The startup has sold its assets to distribution and supply chain company Moksha Group in a distress deal
As a part of this deal, Moksha Group will own Arzooo’s technology platform and its various intellectual property assets and trademarks
The financial terms of the deal were not disclosed.
B2B retail tech startup Arzooo, floated by former Flipkart executives, has reportedly sold its assets to distribution and supply chain company Moksha Group in a distress deal.
As a part of this deal, Moksha Group will own Arzooo’s technology platform and its various intellectual property assets and trademarks. Additionally, the company will also acquire Arzooo’s private label brand, ET reported, citing sources close to the matter.
However, the financial terms of the deal were not disclosed.
Inc42 has reached out to Arzooo
for comments on the development. The story will be updated based on its responses.
“The company’s troubles started after they overspent last year during the Diwali sales, giving heavy discounts and incentives to retailers,” a source told ET.
(The story will be updated soon)
