India’s Arzooo, once valued at $310M, is selling at a hefty price

Arzooo, an Indian startup founded by ex-Flipkart executives that wanted to bring “best-in-class e-commerce” to virtual stores, has sold its assets in a distressed sale to Moksha Group.

The deal follows Arzooo engaging with several startups, including Bengaluru-headquartered Udaan, for possible merger opportunities, according to people familiar with the matter.

Arzooo has raised nearly $90 million from investors including SBI Investment, Trifecta, Tony Xu, and Celesta Capital, and raised $310 million.

Neither Moksha nor the startup disclosed the financial terms of the deal.

Arzooo has provided a digital bridge for small Indian electronics retailers to compete with e-commerce giants and large retail chains. The startup has worked with major brands to secure bulk inventory at competitive prices and provide last-mile delivery and working capital solutions.