The partnership will open up magicpin's large restaurant base for Rapido, which launched Ownly in August, and has been looking to scale beyond Bengaluru.
'It's the busiest night of the year, and our leadership will hustle on the ground with our delivery partners,' the company stated.
Earlier this month, Magicpin announced that it is entering the quick commerce segment for food delivery.
Unlike other quick commerce players, magicpin will not operate via dark stores for food delivery, the company said in a statement.
Magicpin joined the Open Network for Digital Commerce (ONDC) network in March last year with 22,000 restaurant partners, which the company has scaled to 70,000, the company said in a statement
The rider platform has gone live with 1,000 delivery executives and the goal is to increase the number to 10,000 by March next year
In this role, Bhushan will be a key member of the Investment team and will contribute to all aspects of the firm's investment, portfolio management and fundraising, Prime VP said in a statement.
An IIM Bangalore graduate, Bhushan has previously worked as an investor in Nexus Venture Partners and also as a strategy consultant in Bain.
Flash sales and free deliveries on ONDC food orders amid IPL season
ONDC's plan is to scale up the network nationwide with more seller and buyer apps. The pilot has already started in Delhi with two street vendors in the Saket locality onboarded through Zomato-backed Magicpin.
Magicpin delivered 35,000 food orders during India vs. Pakistan match and peaked at 50,000 orders on a day of India vs. Australia match.
The company will provide exclusive discounts on popular food chains like Fassos, Behrouz Biryani, Oven Story, McDonald’s, Wow Momo, Pizza Hut, Barbeque Nation and Barista on delivery orders throughout the day.
Magicpin had pledged to change its signage to 'magicISRO' if the Chandrayaan 3 mission was successful.
Magicpin announced that it will swap out its 50-feet "magicpin" sign for a "magicISRO" sign at its IFFCO Chowk location in Gurgaon if Chandrayaan 3 makes a successful moon landing.
Magicpin has facilitated the delivery of approximately 20,000 orders for 40,000 kilograms (kg) of tomatoes across more than 90 pin codes in and around Delhi-NCR in just 4 weeks.
Pincode has entered key cities such as Mumbai, Delhi, Noida, Gurugram, Chennai and Hyderabad. Services will also be available in Ahmedabad, Pune, and Kolkata.
At present, retail orders mostly consist of the food & beverages category and a small volume of grocery.
Co-founder and chief executive officer Anshoo Sharma says ONDC could be an inflection point for the hyperlocal commerce platform
Pincode had earlier said its fill rates were over 90 percent. Fill rates are an essential metric in online commerce as it denotes the percentage of products ordered which get delivered to the consumer.
After integrating with the ONDC in March this year, Magicpin brought 22,000 restaurants on to the platform and said it would add 5,000 more over the coming three months
They aren’t exactly the bloody Cola Wars of yore. But brands are getting cheekier in commercials, spoofing other brands' ads. The question is, who is laughing?
After a brief period of low funding activity, this week saw multiple startups raise funds in late-stage rounds. The week also saw Zomato announce its plans to invest across multiple Indian startups.
Zomato's sharp growth comes with rising losses and would only push the profitability timeline further
Magicpin will use the new funds for deepening presence in existing markets, launching new markets and expanding across categories.
While the Shiprocket funding is part of a $200 million round which the company is raising, Curefit and Magicpin's are standalone equity rounds.