Magicpin To Invest Rs 100 Crore For 1 Lakh Food Delivery Partners On ONDC

Hyperlocal e-commerce firm magicpin plans to invest Rs 100 crore over the next three months to onboard over 1 lakh new restaurants and cloud kitchens on the government-backed e-commerce platform Open Network for Digital Commerce.

magicpin will invest funds towards offering onboarding incentives like zero commission, zero onboarding fees, and free home delivery, among others, for customers by newly partnered restaurants.

magicpin is one of the leading seller apps on Open Network for Digital Commerce. This food tech vertical competes with food delivery apps like Swiggy and Zomato.

"Our goal is to provide a risk-free entry to promote the participation of food merchants and restaurants in the digital economy by eliminating entry barriers such as high commissions and onboarding fees, and committing Rs 100 crore towards this initiative," said Naman Mawandia on Sunday.

"We aim to not only accelerate the adoption of online food delivery among diverse restaurant partners, thereby benefiting the overall ONDC ecosystem but also see these opportunities turning into cost benefits for the end consumers," said Mawandia.

As a part of the initiative, the company claims to have introduced a self-onboarding tool to help restaurants, small and medium food delivery merchants to join ONDC in under five minutes.

"ONDC's mission is to democratise digital commerce. magicpin's investments towards onboarding more local merchants on ONDC helps India be a more inclusive digital economy," said T Koshy, managing director and chief executive officer of Open Network for Digital Commerce.

"magicpin's initiative with ONDC marks a significant step towards digital transformation for our member restaurants. We encourage all our members to join ONDC via magicpin to drive visibility, growth and a great customer experience," said Kabir Suri, president of National Restaurant Association of India.

In November, ONDC reported that its food delivery order peaked at 50,000 during the India-Australia march during the cricket World Cup.