Magicpin scales AI assistant Vera, targets over 10 lakh merchants by 2026: CEO

Food delivery and e-commerce platform magicpin aims to more than double the merchant base of its AI assistant, Vera, to over 10 lakh by the end of 2026, after onboarding more than 5 lakh restaurants and retailers within three months of its launch, Founder and CEO Anshoo Sharma said.

Launched during the recent LPG crisis, Vera provides restaurants and retailers with real-time order-volume insights to help them plan operations and manage demand more effectively.

According to magicpin, the AI platform has facilitated over 50 lakh interactions across merchant workflows, with more than 5 lakh merchants actively using Vera across over 25 business verticals.

"We believe this is just the beginning of how AI will transform the way merchants operate and grow. The pace of adoption has been much faster than we expected. magicpin aims to onboard 1 million (10 lakh) merchants on Vera by the end of 2026," Sharma told PTI.

Among merchants with identified city-level data, Bengaluru leads adoption with over 1.23 lakh merchants, followed by New Delhi (1.08 lakh), Hyderabad (70,500), Mumbai (68,500), Pune (40,000), and Gurugram (38,500).

magicpin has committed an investment of USD 1 million towards building its AI stack, of which Vera is a key component.

Sharma said the company is continuing to invest in expanding Vera's capabilities across marketing, merchant engagement, lead generation and business intelligence, following strong traction across metropolitan as well as smaller markets. The platform serves merchants in more than 300 cities.