Magicpin's AI assistant Vera hits 5 lakh merchants in 3 months

Key Takeaways

• Magicpin's AI assistant Vera reached 5 lakh merchants within three months of launch
• The company plans to double this to 10 lakh merchants by end of 2026
• Bengaluru leads adoption with 1.23 lakh merchants, followed by Delhi at 1.08 lakh

Magicpin's AI assistant Vera has onboarded over 5 lakh restaurants and retailers in just three months, and the company wants to double that number by the end of 2026. CEO Anshoo Sharma told PTI the pace of adoption has exceeded internal expectations, with the platform now active in over 300 cities across 25 business verticals.

Vera launched during the recent LPG crisis in India, a timing that forced many small merchants to rethink how they manage inventory and demand. The tool provides real-time order volume insights, helping restaurants and retailers plan operations before problems arise rather than react after the fact.

Where are merchants adopting Vera?

Bengaluru leads with 1.23 lakh active merchants on the platform. New Delhi follows at 1.08 lakh, then Hyderabad at 70,500, Mumbai at 68,500, Pune at 40,000, and Gurugram at 38,500. The concentration in tech-forward metros makes sense. These are markets where merchants already use digital tools for payments and delivery, so adding an AI layer to optimize operations is a smaller leap.

The more interesting signal is the presence in smaller markets. Magicpin claims traction outside the top six cities, though specific numbers for tier-2 and tier-3 towns were not disclosed. If Vera gains ground there, it would suggest India's fragmented retail sector is more ready for AI tools than many assumed.

What does Vera actually do for merchants?

The core function is demand forecasting. Vera analyzes order patterns and provides merchants with visibility into expected volumes. A restaurant can see if Tuesday lunch is trending higher than usual, or if weekend dinner orders are slowing. This data helps with staffing, prep, and inventory decisions.

“Vera is designed to be a co-pilot for restaurants and retailers, providing them with actionable, real-time insights that help them optimize their operations and manage demand more effectively.”

— Anshoo Sharma, Founder and CEO of Magicpin

The platform has facilitated over 50 lakh interactions across merchant workflows. Magicpin reports a 1.5x to 2x increase in visibility for merchants using Vera, and a 3x jump in customer actions driven by AI insights. These numbers come from the company, so treat them as directional rather than verified.

How much is Magicpin investing in AI?

The company has committed $1 million specifically toward building its AI stack, with Vera as the centerpiece. This is a modest sum compared to enterprise AI investments, but Magicpin is targeting small merchants, not Fortune 500 logistics. The bet is that a relatively lean AI product can deliver outsized value to businesses that currently operate on gut instinct and spreadsheets.

Sharma said the company is expanding Vera's capabilities into marketing, lead generation, and business intelligence. The roadmap suggests Magicpin wants Vera to evolve from an operations tool into a full merchant growth platform. Whether merchants will pay for these additional features, or whether they remain bundled into Magicpin's existing commerce services, is unclear.

Why the 10 lakh target matters

India has an estimated 14 million small retail outlets and over 7 lakh restaurants. Reaching 10 lakh merchants would give Magicpin meaningful coverage of the organized segment, the shops and restaurants digitized enough to use a platform like this. It would also create a data flywheel: more merchants feeding order data means better predictions for everyone on the platform.

The challenge is converting passive users into active ones. Many merchants sign up for tools and then abandon them. Magicpin claims 5 lakh are actively using Vera, but active use can mean anything from daily logins to occasional checks. The real test is whether these merchants change behavior based on Vera's recommendations.

The bigger picture for AI in Indian retail

India's small merchants have been promised digital transformation for a decade. Most of it focused on payments and delivery aggregation. AI is the next layer, and the question is whether it can actually change operations for businesses that often lack basic data hygiene.

Vera's early numbers suggest there is appetite. But early adopters are the easy part. The harder work is convincing the next 5 lakh merchants, the ones less tech-savvy and more skeptical, that an AI tool will improve their bottom line. Magicpin has until the end of 2026 to prove it can.

Frequently Asked Questions

What is Magicpin Vera?

Vera is an AI assistant launched by Magicpin that provides restaurants and retailers with real-time order volume insights to help them manage demand and plan operations more effectively.

How many merchants are using Magicpin Vera?

Over 5 lakh merchants are actively using Vera across more than 25 business verticals in over 300 cities, as of the latest update from Magicpin.

What is Magicpin's target for Vera adoption?

Magicpin aims to onboard 10 lakh merchants on Vera by the end of 2026, doubling its current user base.

Which cities have the highest Vera adoption?

Bengaluru leads with 1.23 lakh merchants, followed by New Delhi (1.08 lakh), Hyderabad (70,500), Mumbai (68,500), Pune (40,000), and Gurugram (38,500).

How much has Magicpin invested in AI?

Magicpin has committed $1 million toward building its AI stack, with Vera as a key component of this investment.

Source: Tech-Economic Times / ET