Hyperlocal e-commerce platform Magicpin raises Rs.15-Cr debt from Stride Ventures

Gurugram-based hyperlocal e-commerce platform Magicpin has raised INR 15 crore in debt funding from Stride Ventures.The company plans to use the new funds to expand its artificial intelligence (AI)-led offerings for small retailers and to invest in its AI-powered assistant, 'Vera AI', and other AI-specific innovations. The company has already deployed approximately USD 1 million for the development of Vera AI.