Ringy has acquired Baltic refurbished electronics retailer UPGREAT in a deal backed by an undisclosed funding round led by Trind VC, creating a larger player focused on expanding the region’s circular electronics market. Financial terms of both the acquisition and investment were not disclosed, but the combined company expects to generate €26 million in revenue in 2026. Founded in 2021, Estonia-based Ringy operates a recommerce platform that sources, evaluates and resells used electronics across nearly 40 markets, while UPGREAT is the Baltics’ largest refurbished electronics retailer with retail stores in Estonia and Latvia and in-house refurbishment capabilities. UPGREAT will continue operating under its existing brand and team, as the combined business plans to expand refurbishment capacity, broaden its product offering and strengthen trade-in, repair and resale infrastructure across the Baltics. Trind VC’s latest investment will support Ringy’s strategy to build an end-to-end recommerce platform covering the full lifecycle of electronic devices.
Founded in Tallinn in 2021, Ringy has helped more than 100,000 devices find new owners across nearly 40 markets. According to the company’s calculations, this has avoided more than 4,500 tonnes of CO₂ emissions.
“Circularity requires more than consumer demand. It needs convenient take-back channels, professional testing and repair, reliable warranties and efficient routes for devices to reach their next owners,” said Kristo Kraft, CEO of Ringy. “By joining forces with UPGREAT, we can strengthen that infrastructure across the Baltics and return significantly more electronics to productive use.”
UPGREAT operates three stores—at Lasnamäe Centrum and T1 in Tallinn and at the SĀGA shopping centre in Riga. Its devices undergo comprehensive technical inspection by the company’s Apple-certified repair technicians and are sold with warranties of up to two years.
“UPGREAT and Ringy share the same mission: to make refurbished electronics as natural a consumer choice as buying a pre-owned car,” said Kristjan Nemvalts, CEO of UPGREAT. “Together, we can offer customers a larger and more diverse selection of professionally inspected devices while creating a strong foundation for regional growth.”
Refurbished electronics remain a single-digit share of the Baltic device market, according to Ringy’s estimates, leaving considerable room for growth. The combined company plans to expand its product selection, refurbishment capacity and regional reach while extending the useful life of more electronic devices.
“Having seen the successful collaboration between UPGREAT and Ringy over the past several years, we’re excited to see the two companies join forces. Together, they’re uniquely positioned to cover the entire value chain of second-hand mobile electronics and accelerate the transition towards a more circular economy,” said Ivar Siimar, Partner at Trind VC.
Trind VC has backed Ringy for several years. The new investment supports Ringy’s ambition to build a scalable recommerce platform covering the device lifecycle from trade-in and evaluation to repair, resale and reuse.
Read the orginal article: https://arcticstartup.com/ringy-acquires-upgreat/
