Hyperlocal discovery platform Magicpin is adding an augmented reality-based feature on its app in partnership with a number of food and beverage companies and other merchants.
The new feature showcases ‘quests’ at nearby merchant locations where so-called ‘treasures’, such as a burger, are hidden in the augmented reality space. Users can redeem these treasures for a reward at the store counter, the company said in a statement on Friday. The users’ experience at the store becomes a video that goes on to their feed on Magicpin and Facebook, it added.
Magicpin has tied up with companies such as burger chain McDonald’s, The Beer Café, tea retailer Chaayos, sports good retailer Decathlon and gaming arcade operator Smaaash for the feature.
“We believe within this decade, augmented reality will transform the way the always-connected consumer works, shops, eats and plays and we want to bring the best-in-class global technology to our users and partners in India,” said Anshoo Sharma, co-founder and CEO, Magicpin. He added that Magicpin’s active users spend up to 70 minutes on the app every day.
“Magicpin is incorporating AR into a fun treasure hunt dynamic to help users discover new products and places in the real world,” said Jeremy Liew, partner at Lightspeed.
Magicpin was founded in August 2015 by Sharma, a former partner at Lightspeed Venture Partners, and Brij Bhushan, a former vice president at Nexus Venture Partners. It was incubated by Lightspeed. Both Sharma and Bhushan, who are alumni of IIM-Ahmedabad and IIM-Bangalore, respectively, have previously worked with global software multinational Aricent and consulting firm Bain & Co.
Run by Samast Technology Pvt. Ltd, the startup calls itself a social network for local experiences, where users can discover restaurants and events, and interact with merchants in their region. The platform also provides real-time promotions, loyalty programmes and content updates. Users can upload their bills on the app and get cash back.
In May, Magicpin had raised nearly $6.6 million (Rs 42 crore) in a Series B round from Lightspeed and investment firm Vy Capital.
The startup operates in Delhi-NCR, Jaipur and Bangalore, covering 30,000 merchants. It claims to drive over $1 million of monthly gross merchandise value (GMV) to local merchants.
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