Gurugram-based local discovery, rewards, and commerce platform Magicpin has raised funding of Rs 29.3 crore led by Lightspeed Venture Partners, along with the participation of Moonstone Investments, WaterBridge Venture, The Bunting Family Private Fund, and Srivatsan Rajan, according to the RoC documents. Magicpin uses a social and gamified approach of using user-generated pictures and videos to help discover retailers and brands. Consumers earn reward points for shopping at partnered retail outlets, buying specific brands, and also through augmented reality gameplay at a merchant location.

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