Moksha Group Acquires Assets of Arzooo

Mumbai-based Moksha Group has acquired the strategic assets of struggling retail-tech startup Arzooo in a distress sale, following the latter's significant layoffs and funding challenges. The deal includes Arzooo's technology platform, intellectual property assets, and private label brand, although the financial terms were not disclosed. Arzooo, founded by former Flipkart executives, had previously raised approximately $90 million but faced severe financial difficulties after overspending during promotional events. Moksha Group has appointed Rehan Shaikh, an e-commerce veteran, as the new CEO of Arzooo to lead its retail tech operations. This acquisition aims to enhance Moksha's distribution capabilities for small retailers, enabling them to compete more effectively in the consumer electronics market. Arzooo's services currently support over 30,000 retailers across 250 cities in India.