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Total amount raised
$100M
Latest funding date
2026-04-08
Location
Magicpin has successfully raised funding over 9 rounds, with notable investors including Zomato and Lightspeed Venture Partners. The platform is recognized as India's 3rd largest food delivery app, offering a range of services from food delivery to fashion and beauty.
Keep reading to explore the intricacies of Magicpin's fundraising journey and the investors backing this innovative platform.
Magicpin has raised over $100 million across multiple funding rounds, backed by notable investors including Zomato, Lightspeed Venture Partners, Samsung Venture Investment Corporation, Waterbridge Ventures, Trifecta Capital, and Stride Ventures.
Keep reading to explore Magicpin's fundraising journey, from its early Series A round in 2016 to its most recent debt financing in April 2026.
What Is Magicpin?
Magicpin is a Gurugram-based hyperlocal e-commerce platform founded in 2015 by Anshoo Sharma. The platform connects consumers with local merchants across categories including food, fashion, beauty, grocery, and wellness, enabling discovery, rewards, and commerce. Magicpin has grown to serve millions of users and hundreds of thousands of merchants across India, and operates as a seller and buyer app on ONDC (Open Network for Digital Commerce). The company has also expanded into hyperlocal delivery through its MagicNow service.
How Much Funding Has Magicpin Raised?
- Series A
- Amount Raised: $3,000,000
- Date: February 2016
- Lead Investors: Lightspeed Venture Partners
- Participants: Lightspeed Venture Partners
- Non-Equity Assistance
- Amount Raised: $50,000
- Date: May 2016
- Lead Investors: Google Launchpad Accelerator
- Series B
- Amount Raised: $7,000,000
- Date: May 2017
- Lead Investors: Lightspeed Venture Partners
- Debt Financing
- Amount Raised: $1,000,000
- Date: March 2018
- Lead Investors: Trifecta Capital
- Series C
- Amount Raised: $20,000,000
- Date: November 2018
- Lead Investors: Lightspeed India Partners
- Participants: Waterbridge Capital, Srivatsan Rajan
- Series C (Extension)
- Amount Raised: $3,800,000
- Date: May 2020
- Lead Investors: Lightspeed Venture Partners
- Participants: Waterbridge Ventures, The Bunting Family Private Fund, Moonstone Investments
- Series C (Extension)
- Amount Raised: $3,000,000
- Date: July 2020
- Lead Investors: Samsung Venture Investment Corporation
- Participants: Lightspeed, Waterbridge
- Venture Round
- Amount Raised: $3,000,000
- Date: August 2021
- Lead Investors: RA Holdings (Ritesh Agarwal)
- Participants: Lightspeed, The Bunting Family, Moonstone
- Series D
- Amount Raised: $60,000,000
- Date: November 10, 2021
- Lead Investors: Zomato
- Participants: Lightspeed Venture Partners
- Series D (Extension)
- Amount Raised: Undisclosed
- Date: March 26, 2025
- Lead Investors: Hindustan Media Ventures
- Debt Financing
- Amount Raised: INR 15 crore (approximately $1,800,000)
- Date: April 8, 2026
- Lead Investors: Stride Ventures
Total Amount Raised: At least $100M based on disclosed funding (as confirmed by the company in April 2026, inclusive of all debt rounds).
Key Investors
- Zomato
- Details: Zomato (now Eternal Limited) led Magicpin's largest funding round — a $60 million Series D in November 2021. Deepinder Goyal, founder of Zomato, personally backed the round, viewing Magicpin's offline commerce play as complementary to Zomato's restaurant ecosystem.
- Lightspeed Venture Partners
- Details: Lightspeed has been Magicpin's most consistent backer, participating from the Series A ($3M, 2016) through the Series D (2021), including leading the Series B and Series C rounds.
- Samsung Venture Investment Corporation
- Details: Samsung Ventures led a $3 million Series C extension round in July 2020, backing Magicpin's continued expansion during a challenging period for offline retail.
- Stride Ventures
- Details: Stride Ventures provided Magicpin with INR 15 crore in debt financing in April 2026, marking the company's third venture debt raise. The funds are being used to deepen Magicpin's AI capabilities for small retailers.
- Trifecta Capital
- Details: Trifecta Capital extended $1 million in venture debt to Magicpin in March 2018, representing the company's first debt financing round.
- Hindustan Media Ventures
- Details: Hindustan Media Ventures led a Series D extension round in March 2025. The specific amount invested is undisclosed in publicly available sources.
- RA Holdings (Ritesh Agarwal)
- Details: OYO founder Ritesh Agarwal, through his personal SPV RA Holdings, led a $3 million venture round in August 2021 at a $165 million valuation ahead of the Series D.
What's Next for Magicpin?
Magicpin is well-positioned to continue its growth trajectory in the hyperlocal commerce space. With a strong investor base, the company is focused on deepening its presence in offline retail discovery and expanding its merchant network. Magicpin's integration with ONDC provides an additional avenue for growth, enabling it to tap into the growing digital commerce ecosystem in India. As consumer preferences shift towards local and hyperlocal shopping experiences, Magicpin's platform is likely to benefit from increased adoption. The company continues to innovate with AI-powered tools and delivery services, positioning itself as a key player in India's evolving e-commerce landscape.
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