- Gurugram-based startup MagicPin, popular in the ONDC (Open Network for Digital Commerce) sector, has adapted its business model to survive in the hyperlocal retail landscape and the COVID-19 pandemic.
- Despite considerable losses, MagicPin’s revenue has grown significantly, reaching an operational income of Rs 233 crore in FY22; the startup projects a further 3X growth for FY23.
- While MagicPin holds strong in the ONDC space with over 30,000 orders daily, the company foresees potential challenges as the technology is still nascent and competition is expected to grow.
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