'This is 2015 all over again': Magicpin, Ola enter 10-minute food delivery battleground; Will they succeed?

In the rapidly evolving landscape of India's food delivery sector, Magicpin and Ola have entered the competitive arena of 10-minute food delivery. Investor Rahul Mathur captured the sentiment of many observers, saying, “This is 2015 all over again, with one small nuance — the new players and late entrants have past experience doing food delivery.”

Magicpin's new service, magicNOW, and Ola’s re-launched Ola Dash have joined a field already crowded with established players like Blinkit’s Bistro, Swiggy’s Cafe and Bolt, and Zepto’s Cafe. For Ola, this isn't its first foray into the food and beverage space. It launched Cafe in 2015, a 20-minute food delivery service that was paused by 2016. The company then acquired Foodpanda in 2017, only to shut down operations by 2019.

In 2019, Ola introduced Ola Foods, which ceased operations in 2022. Ola Dash itself originally launched in 2021 but was also paused the following year. The company’s latest efforts in food delivery come on the back of its broader move into consumer services, such as its ONDC buyer app, introduced in 2023.

Magicpin, in contrast, enters the race with a strong foundation. It is the largest ONDC seller app for food and beverages and boasts its own logistics arm, Velocity, launched in March 2024, the investor said. This integration could give Magicpin an edge in terms of cost efficiency and scalability as it battles for market share in the ultra-fast delivery segment.

The competition is fierce, with Magicpin’s magicNOW reportedly achieving 75,000 orders during a month-long trial, averaging around 2,500–3,000 orders per day. Zepto’s Cafe currently processes about 30,000 daily orders, while Swiggy’s Bolt contributes roughly 90,000 orders daily, accounting for 5% of Swiggy’s 1.8 million daily orders.

While the concept of ultra-fast delivery isn't new, today’s players have the advantage of lessons learned from the past and more refined strategies.

Magicpin and Ola are stepping into a high-stakes race where logistics efficiency, customer retention, and profitability will determine the winners.