Arzooo, an Indian startup founded by former Flipkart executives, has sold its assets to Moksha Group in a distressed sale, bringing an end to its mission to bring the "best of e-commerce" to physical stores.The deal comes after Arzooo engaged with several startups, including Bengaluru-headquartered Udaan, for potential merger opportunities. The startup had raised approximately $90 million from investors, including SBI Investment, Trifecta, Tony Xu, and Celesta Capital, and climbed to a peak valuation of $310 million.The acquisition positions Moksha Group to bridge significant gaps in India's rapidly evolving consumer durables and appliances sector, according to a press statement. Although the financial terms of the deal remain undisclosed, the acquisition marks a significant shift in the Indian startup ecosystem.

The deal comes after Arzooo engaged with several startups, including Bengaluru-headquartered Udaan, for potential merger opportunities. The startup had raised approximately $90 million from investors, including SBI Investment, Trifecta, Tony Xu, and Celesta Capital, and climbed to a peak valuation of $310 million.

The acquisition positions Moksha Group to bridge significant gaps in India's rapidly evolving consumer durables and appliances sector, according to a press statement. Although the financial terms of the deal remain undisclosed, the acquisition marks a significant shift in the Indian startup ecosystem.