Grest, a full-stack tech-enabled consumer electronics re-commerce company, secured Rs 16 crore in its latest funding round. Equentis led the round by contributing Rs 7 crore, while The Chennai Angels, Lead Invest, and India Accelerator also participated. The round combined both equity and debt, reflecting investor confidence in Grest’s strong growth model and its ability to scale rapidly.
The new funding comes at a pivotal time for Grest. The company plans to strengthen its retail footprint, upgrade its state-of-the-art refurbishment facility, enhance its e-commerce and B2B channels, and build a more efficient supply chain. With the consumer electronics market in India growing at double-digit rates and e-waste management becoming a pressing challenge, Grest has positioned itself at the intersection of affordability, sustainability, and innovation.
Expansion Plans with Fresh Capital
Grest currently operates over 60 retail outlets across India. The company intends to use part of the fresh capital to expand this retail network to reach new urban and semi-urban markets. By increasing physical presence, Grest will create more touchpoints for consumers who prefer offline experiences before purchasing refurbished gadgets.
The company also runs a 20,000 square-foot in-house refurbishment lab, which it plans to upgrade with advanced diagnostic and repair technology. This lab serves as the backbone of its re-commerce operations, where trained technicians carry out more than 50 quality checks on each device before resale. The funding will help Grest modernize this facility further, ensuring faster turnaround times and even higher refurbishment standards.
On the digital front, Grest wants to scale both its e-commerce platform and B2B distribution channels. Strengthening its online presence will allow the company to reach tech-savvy millennials and Gen Z consumers, who form a significant part of India’s refurbished device buyers. At the same time, building robust B2B networks ensures consistent bulk sales to retailers, corporates, and redistributors across the country.
Supply chain enhancement forms another priority. Grest plans to invest in logistics technology, inventory management, and supplier integrations to ensure smoother operations from sourcing to delivery. By tightening its backend, Grest aims to maintain competitive pricing, high-quality standards, and timely fulfillment—three factors critical for consumer trust in refurbished electronics.
Founding Story and Business Model
Entrepreneurs Shrey Sardana and Nitin Goyal co-founded Grest in 2018 with a vision to make premium electronics affordable while reducing electronic waste. They identified a major gap in India’s consumer electronics market: millions of aspirational consumers desired high-end gadgets but often could not afford brand-new devices. At the same time, tons of electronic waste accumulated due to limited avenues for refurbishment and reuse.
Grest solved both problems with a circular re-commerce model. The company sources pre-owned devices such as smartphones, laptops, tablets, and smartwatches from individuals, corporates, and channel partners. It refurbishes these devices in-house, subjects them to strict quality checks, and resells them through both online and offline channels. Each refurbished product comes with a six-month hassle-free warranty, giving buyers the same confidence they expect from new devices.
This approach makes aspirational gadgets affordable for consumers, reduces e-waste by extending device lifecycles, and promotes resource efficiency. In short, Grest makes sustainability accessible while delivering tangible value to Indian households.
Impressive Growth Numbers
Grest’s growth trajectory has been remarkable. In FY25, the company sold over 15,000 devices across its omni-channel network. It recorded ninefold revenue growth within two years, rising from Rs 2.9 crore in FY23 to Rs 26 crore in FY25 on a provisional basis.
Such rapid growth highlights both the market potential of refurbished electronics and Grest’s ability to scale operations effectively. Unlike many startups that struggle with profitability in early years, Grest built a robust backend ecosystem to sustain its expansion. The company collaborates with more than 100 spare part suppliers, manages over 500 SKUs, and works with over 300 redistributors across India.
These numbers reflect not only strong consumer demand but also efficient execution at every stage—from sourcing to refurbishment to distribution. By building this integrated ecosystem, Grest minimized dependency on external players and ensured consistency in product quality and service.
Strategic Partnerships
Partnerships form another pillar of Grest’s growth. The company collaborates with more than 15 leading suppliers, including Flipkart, Croma, Reliance Digital, Sangeetha Mobiles, and Apple premium resellers. These partnerships provide steady access to high-quality pre-owned devices and expand Grest’s visibility in the retail market.
Through these associations, Grest gains both credibility and scale. Working with established electronics retailers and distributors ensures that refurbished products reach a wider customer base and align with mainstream consumer shopping habits. In addition, collaborations with leading suppliers guarantee a continuous flow of inventory, enabling Grest to meet growing demand without compromising on quality.
Commitment to Quality and Consumer Trust
In a category where consumer trust often acts as the biggest barrier, Grest has prioritized quality assurance. Every device goes through more than 50 quality checks in its refurbishment lab. The company refurbishes gadgets with genuine spare parts sourced from its supplier network. Each product carries a six-month hassle-free warranty, providing peace of mind to buyers.
By combining rigorous testing with transparent warranties, Grest removes the stigma around refurbished electronics. It reassures consumers that they can enjoy premium devices at lower costs without worrying about performance or durability. This trust factor explains why the company continues to attract repeat buyers and positive word-of-mouth referrals.
Driving the Circular Economy in India
Beyond growth and revenues, Grest contributes significantly to India’s circular economy. By extending the lifecycle of electronics, the company reduces e-waste, conserves natural resources, and lowers the carbon footprint of production and disposal.
India ranks among the top producers of electronic waste globally, and improper disposal practices often lead to environmental hazards. Grest’s model directly addresses this challenge by promoting reuse and responsible consumption. In this way, the company not only creates a profitable business but also aligns with global sustainability goals and government initiatives for e-waste management.
For consumers, this means access to affordable, high-quality gadgets. For the environment, it means fewer discarded devices polluting landfills. For society, it means a practical step toward balancing aspiration with responsibility.
The Road Ahead
With Rs 16 crore in fresh funding, Grest has set the stage for its next phase of growth. The company plans to double down on retail expansion, upgrade its refurbishment lab, and invest in technology-driven supply chain and platform improvements.
The re-commerce industry in India is still at an early stage compared to mature markets like the US and Europe. However, rising digital adoption, increasing consumer awareness, and a growing appetite for affordable premium gadgets create enormous opportunities. Grest sits at the heart of this opportunity with a proven business model, strong growth record, and a clear sustainability mission.
If the company continues on its current trajectory, it could emerge as a category leader in the refurbished electronics market, shaping consumer perceptions and setting new standards for quality and trust in re-commerce.
Conclusion
Grest’s Rs 16 crore funding round marks more than just a financial milestone—it represents a vote of confidence in India’s re-commerce future. With strong backing from investors like Equentis, The Chennai Angels, Lead Invest, and India Accelerator, the company now has the resources to scale aggressively.
By bridging affordability and sustainability, Grest delivers value to consumers, partners, and the planet. Its journey from a startup founded in 2018 to a fast-scaling re-commerce player reflects both entrepreneurial vision and operational excellence. As it expands further, Grest could redefine how Indian consumers view refurbished electronics and play a crucial role in building a greener, more affordable digital economy.
Also Read – Looking for Investors? 10 Platforms That Connect Startups with Global VCs