Circular economy startup Ringy has acquired UPGREAT, the largest retailer of refurbished electronics in the Baltics, in a significant move to consolidate the regional market. The acquisition was supported by an undisclosed funding round led by long-term investor Trind VC. The combined entity, which generated over €15 million in revenue in 2025, projects its revenue to reach €26 million by 2026, signaling strong growth ambitions.
A Strategic Merger for Circular Economy Growth
This transaction strategically combines Ringy's international sourcing and sales network with UPGREAT's established retail presence and technical refurbishment capabilities. UPGREAT will continue to operate under its well-recognized brand and with its current team, ensuring a seamless transition for its customer base. The merger aims to create a comprehensive, end-to-end recommerce platform covering the full lifecycle of electronic devices.
Vision for an Integrated Recommerce Platform
Both companies share a mission to make refurbished electronics a mainstream consumer choice, comparable to the pre-owned car market. Kristo Kraft, CEO of Ringy, emphasized the need for robust infrastructure, including convenient take-back channels and reliable repairs, to foster circularity. This partnership is designed to strengthen that infrastructure and return significantly more electronics to productive use across the region.
According to UPGREAT CEO Kristjan Nemvalts, the collaboration will provide customers with a larger and more diverse selection of professionally inspected devices. The combined business plans to expand its refurbishment capacity, broaden its product offerings, and enhance its trade-in and repair services. These efforts will create a stronger foundation for regional growth and make sustainable choices more accessible to consumers.
Market Potential and Investor Confidence
The Baltic market for refurbished electronics presents a considerable opportunity for expansion, currently accounting for only a single-digit share of device sales. This acquisition positions the unified company to capitalize on the growing consumer demand for sustainable and affordable technology. By combining their strengths, Ringy and UPGREAT are poised to lead the charge in this developing sector.
Investor confidence in this strategy is underscored by the new funding round led by Trind VC, which has supported Ringy for several years. Ivar Siimar, a Partner at Trind VC, noted the successful prior collaboration between the two companies and their unique position to cover the entire value chain. The investment will fuel the ambition to build a scalable platform that accelerates the transition toward a circular economy.
The environmental benefits of this merger are also a key driver, building on Ringy's existing impact. The company has already facilitated new ownership for over 100,000 devices across nearly 40 markets, which it calculates has avoided over 4,500 tonnes of CO₂ emissions. The expanded operation is expected to significantly increase the number of devices given a second life.
The acquisition of UPGREAT by Ringy represents a pivotal development for the Baltic circular electronics market, creating a formidable player with end-to-end capabilities. Backed by strategic investment from Trind VC, the unified company is well-equipped to drive market growth and normalize the purchase of refurbished goods. This move not only promises commercial success but also reinforces the region's commitment to a more sustainable technological future.