Arzooo, an Indian startup aimed at bringing “the best of e-commerce” to physical stores, has sold its assets in a distressed sale to Moksha Group.
Arzooo, an Indian startup aimed at integrating the advantages of e-commerce into physical retail, has transferred its assets in a distressed sale to Moksha Group.
This transaction follows Arzooo’s discussions with various startups, including Udaan, based in Bengaluru, regarding potential merger possibilities, as reported by sources familiar with the situation.
Arzooo established a digital platform for small electronics retailers in India, enabling them to compete against e-commerce behemoths and large retail chains. The startup collaborated with prominent brands to obtain bulk inventory at favorable prices and offered solutions for last-mile delivery and working capital.
Founded by former executives from Flipkart, Arzooo successfully raised around $90 million from investors such as SBI Investment, Trifecta, Tony Xu, and Celesta Capital, achieving a peak valuation of $310 million.
Moksha Group stated in a press release, which did not reference the founders of Arzooo, that this strategic acquisition of assets will enable them to address significant gaps in India’s rapidly changing consumer durables and appliances market.
The financial details of the transaction were not disclosed by either Moksha or Arzooo.
