Information on the target
Ringy, a circular economy startup based in Tallinn, has successfully acquired UPGREAT, the largest retailer of used and refurbished electronics in the Baltic region. This strategic acquisition is set to enhance the circular electronics infrastructure across the Baltics. UPGREAT, founded in 2020, has established a strong brand presence and operates three retail locations in Tallinn and Riga, specializing in professionally inspected Apple devices. The financial specifics of the acquisition and the accompanying funding round led by Trind VC have not been disclosed, but the combined revenue of both companies exceeded €15 million in 2025.
The acquisition allows Ringy to leverage its international sourcing, technology, and sales network alongside UPGREAT's established retail presence and technical refurbishment capabilities. UPGREAT will continue to operate under its existing brand and maintain its current team, ensuring continuity for its customers and operations.
Industry overview in the target’s specific country
The Consumer Electronics Retailers industry in Estonia has been experiencing a notable transformation, particularly with the growing emphasis on sustainability and the circular economy. As consumer awareness regarding environmental issues increases, there is a rising demand for refurbished electronics. This shift is evident in the growing market for second-hand devices, which remains a relatively small segment of the overall electronics market in the Baltics, currently estimated to be in the single digits.
Estonia, being a tech-savvy nation, has seen a surge in the adoption of digital solutions, which has facilitated the growth of e-commerce platforms for refurbished electronics. Retailers are increasingly focusing on providing high-quality, professionally inspected devices that come with warranties, thereby building consumer trust in the refurbished market. UPGREAT's commitment to rigorous technical inspections by Apple-certified technicians exemplifies this trend, ensuring that customers receive reliable products.
Moreover, the Estonian government has been supportive of initiatives that promote sustainability and circular economy practices. This regulatory environment encourages businesses to adopt eco-friendly practices, further driving the growth of the refurbished electronics sector. As a result, companies like Ringy and UPGREAT are well-positioned to capitalize on these trends, expanding their offerings and enhancing their market presence.
With the combined expertise of Ringy and UPGREAT, the potential for growth in the refurbished electronics market is significant. The collaboration aims to not only increase th…