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Arzooo , an Indian startup that seek tobring “ the best of e - commerce ” to physical stores , has sell its asset in a distressed sale to Moksha Group .
The deal comes after Arzooo engage with several startups , including Bengaluru - headquarter Udaan , exploring possible merger opportunities , according to mass intimate with the matter .
Arzooo provided a digital bridgework to India ’s small-scale electronics retail merchant so they could vie with east - commerce giants and large retail chains . The startup worked with major brands to insure bulk inventories at militant price and also supply last - mile rescue and work capital solution .
Founded by former Flipkart executive , Arzooo had bring up more or less $ 90 million from investors , include SBI Investment , Trifecta , Tony Xu , and Celesta Capital , and climb to a blossom evaluation of $ 310 million .
“ This strategic acquisition of plus lieu the Moksha Group to bridge pregnant gap in India ’s rapidly evolving consumer consumer durables and appliances sphere , ” Moksha Group said in a public press program line that did n’t bring up either of the Arzooo founding father .
Neither Moksha nor the inauguration disclosed financial term of the deal .
