Latest news with #AnshooSharma
Time of India
4 days ago
- Business
- Time of India
Magicpin's logistics service magicFleet targets 2 million monthly deliveries by FY-26 end
Since its launch in September 2024, magicFleet has onboarded over 100,000 riders in less than a year. magicFleet is currently live in seven metros, including Delhi NCR, Bengaluru, Pune, Hyderabad, Chennai, Kolkata and Mumbai. Launched in September 2024, magicFleet was built to bridge a critical gap in India's last-mile delivery infrastructure—by providing micro and small logistics entrepreneurs access to a tech-enabled operations stack and steady demand through ONDC and magicpin. The platform leverages AI to offer real-time fleet tracking, automated rider allocation and full-stack delivery visibility, enabling MSMEs to scale efficiently. Anshoo Sharma, CEO & Founder of magicpin said, "We are already among the top three food delivery players in the country, and building logistics capabilities is a natural progression to drive more business to our merchant partners.' Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
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Business Standard
19-05-2025
- Business
- Business Standard
Magicpin expands quick commerce arm, MagicNow to drive 20% of food delivery
Hyperlocal retail platform Magicpin expects its rapid delivery vertical, MagicNow, to account for 20 per cent of its total food delivery business by the end of the current financial year, according to co-founder and CEO Anshoo Sharma. Speaking to news agency PTI on Monday, Sharma noted that MagicNow, launched in September 2024, currently contributes 13 per cent of food delivery volumes and is showing robust growth. 'With MagicNow—our 15-minute quick delivery vertical—already contributing 13 per cent of total food delivery orders, we're well on track to scale this to 20 per cent by the end of the financial year,' Sharma said. The service has expanded significantly in recent months, growing from operations to 20 high-density urban areas in six major metros. It has also seen stronger customer engagement, with monthly user retention 10 per cent higher than Magicpin's platform average. According to Sharma, the company has expanded its network of merchant and restaurant partners to over 21,000 from 3,000 since MagicNow's launch. The roster includes national and global chains such as McDonald's, Taco Bell, Chaayos, Wendy's, Faasos, and Burger King, alongside local eateries. Magicpin claims to provide access to 275,000 retailers and about 3,000 brands across various categories, including fashion, food, electronics, grocery, nightlife, and entertainment. MagicNow joins Swiggy, Zepto, Zomato in quick commerce race MagicNow's growth comes amid intensifying competition in India's growing quick commerce space, where platforms promise delivery within 10–15 minutes from neighbourhood fulfilment centres. Once a niche segment, it has rapidly scaled, with analysts at Bernstein estimating the sector will balloon to $35 billion by 2030, up from just $200 million in 2021. Established players are also doubling down. Swiggy has extended its 10-minute food delivery service, Bolt, to over 500 cities and introduced SNACC, an app dedicated to delivering small meals in under 15 minutes. Its grocery service, Instamart, continues to expand, now supported by larger warehouses across 100 cities. Zepto has diversified with Zepto Cafe, offering hot snacks and beverages in 10 minutes, and launched Zepto Atom, an analytics platform aimed at providing brand partners with customer insights. Zomato, meanwhile, has re-entered the race with a 15-minute food delivery service in Delhi-NCR and a pilot initiative called Bistro by Blinkit, enabling ultra-fast service via its quick commerce arm.
