Trind Ventures leads funding round supporting Ringy's acquisition of UPGREAT
Ringy, a Tallinn-based circular economy company, has acquired UPGREAT, the Baltics' largest retailer of used and refurbished electronics. The transaction was supported by a funding round led by EstVCA member Trind Ventures, a long-term backer of the company. Financial terms of both the acquisition and the funding round were not disclosed.
Founded in Tallinn in 2021, Ringy built a recommerce platform that covers the full life of a device, from trade-in and sourcing to technical evaluation and resale through integrations with European sales channels. It has helped more than 100,000 devices find new owners across nearly 40 markets, avoiding over 4,500 tonnes of CO₂ emissions by the company's own calculations.
Circularity depends on 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. The combination brings those pieces together, pairing Ringy's technology and international sourcing with UPGREAT's established consumer brand, its retail presence in Tallinn and Riga, and refurbishment carried out by Apple-certified technicians. UPGREAT will continue operating under its existing brand and with its current team. Together, the businesses generated more than €15 million in revenue in 2025.
“Having seen the successful collaboration between UPGRATE 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.
The combined company plans to expand its product selection, refurbishment capacity and regional reach, building a platform that covers the device lifecycle from trade-in and evaluation through to repair, resale and reuse.
Refurbished electronics still account for only a single-digit share of the Baltic device market, according to Ringy's estimates. As European circular economy companies move from single-point solutions towards owning the whole device lifecycle, consolidation is becoming a practical route to building the infrastructure the sector needs, and this deal shows investors are willing to back that build-out.
For more information, please visit Trind Ventures' announcement.
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