Hyperlocal ecommerce platform Magicpin has introduced an AI-powered assistant called ‘Vera’ and announced a $1 million investment to build an AI stack aimed at supporting small retailers across India.
In a press release, Magicpin said the tool is “designed to help neighbourhood businesses digitise operations, grow online visibility and drive sales.” More than 100,000 retailers have already joined as part of the trial phase.
Magicpin said Vera removes the need for multiple marketing tools by handling several functions in one place. “It actively manages a business’s online presence by optimising Google listings, auto-responding to 100% of reviews, enhancing content and boosting visibility across both traditional and AI-led search platforms such as ChatGPT,” it said.
“Early results indicate a 1.5–2× uplift in visibility, up to 3× increase in customer actions and a meaningful jump in conversion to paying customers,” said Anshoo Sharma, CEO and cofounder of Magicpin. “We believe AI-led merchant enablement will unlock a significant new revenue stream for Magicpin, contributing meaningfully to our SaaS and advertising business over the next 2–3 years.”
Earlier this year, Sharma said Magicpin is targeting 20 million active users by 2026, with food delivery expected to play a major role in growth. The platform had crossed 15 million active users last year across segments such as ecommerce, ticketing and food delivery. It is now focusing on value-conscious users to expand its food delivery business.
In December, the company also launched metro ticket bookings in Delhi and Mumbai. The service offers heavily discounted fares through the government-backed Open Network for Digital Commerce, with plans to expand into more cities.
In a press release, Magicpin said the tool is “designed to help neighbourhood businesses digitise operations, grow online visibility and drive sales.” More than 100,000 retailers have already joined as part of the trial phase.
Magicpin said Vera removes the need for multiple marketing tools by handling several functions in one place. “It actively manages a business’s online presence by optimising Google listings, auto-responding to 100% of reviews, enhancing content and boosting visibility across both traditional and AI-led search platforms such as ChatGPT,” it said.
“Early results indicate a 1.5–2× uplift in visibility, up to 3× increase in customer actions and a meaningful jump in conversion to paying customers,” said Anshoo Sharma, CEO and cofounder of Magicpin. “We believe AI-led merchant enablement will unlock a significant new revenue stream for Magicpin, contributing meaningfully to our SaaS and advertising business over the next 2–3 years.”
Earlier this year, Sharma said Magicpin is targeting 20 million active users by 2026, with food delivery expected to play a major role in growth. The platform had crossed 15 million active users last year across segments such as ecommerce, ticketing and food delivery. It is now focusing on value-conscious users to expand its food delivery business.
In December, the company also launched metro ticket bookings in Delhi and Mumbai. The service offers heavily discounted fares through the government-backed Open Network for Digital Commerce, with plans to expand into more cities.
