Mumbai-based Moksha Group has Acquired Arzooo

Mumbai-based Moksha Group announced that it has paid an undisclosed sum to retail tech startup Arzooo for significant assets. 

An individual with knowledge of the situation claims that this is a distressed sale since Arzooo was experiencing financial difficulties, as seen by media reports of layoffs and delayed salaries.

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Arzooo is a company that facilitates the online expansion of physical consumer electronics businesses, earned an undisclosed sum from current investors in January as part of an extended Series B investment round. It is already powering more than 30,000 stores in 250 locations around India.

According to a news release from supply chain and distribution solution provider Moksha, its infrastructure will allow rapid commerce partners and small merchants to obtain in-demand consumer durables with quicker, more effective delivery.

Rehan Shaikh was also named CEO and co-founder of Moksha to run its retail technology division. Shaikh has prior experience working for e-commerce behemoths including Amazon, Cloudtail, and Clicktech.

Established in 2018 by Khushnud Khan and Rishi Raj Rathore, two former Flipkart executives, Arzooo helps offline electronic businesses increase in-store sales conversions by providing them with access to competitive rates and their logistics network. In June 2022, it secured $70 million in Series B fundraising, drawing interest from both Indian and international venture capitalists, including DoorDash creator Tony Xu, SBI Investment, 3 Lines, and Trifecta.

About Arzooo

Arzooo is India's largest and fastest-growing retail tech start-up organizing the highly fragmented physical retail and digitalizing them. Focused on the $80Bn markets for consumer electronics, including white goods, TVs, mobile phones, and small appliances, its technology enables India's 5,00,000+ neighbourhood electronics stores to offer the same selection of products as large, urban big-box retailers.

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