Grest, an Indian based full stack recommerce company specialising in premium refurbished Apple devices, has secured approximately € 1.8 million in a growth funding round led by Equentis Wealth, with participation from JIIF, The Chennai Angels, India Accelerator, Lead Invest and 8i Ventures. The investment reflects rising investor confidence in India’s organised secondary electronics market, particularly within the premium smartphone and computing segment, where affordability pressures and sustainability considerations are converging to accelerate adoption. Goal is to accelerate Indian nation expansion.
Capital allocation priorities
The newly raised capital will be directed towards scaling Grest’s direct-to-consumer operations across both online and offline channels, upgrading infrastructure and supply chain capabilities, and enhancing its proprietary technology platforms. Brand visibility and trust-building are also central to the strategy, as Grest seeks to position renewed Apple iPhone, MacBook and iPad devices as reliable alternatives to new products in a price-sensitive but increasingly quality-driven market.
Full stack recommerce model
Founded in 2021 by Shrey Sardana and Nitin Goyal, Grest operates a vertically integrated recommerce model that manages sourcing, renewal, quality assurance, distribution and after-sales service in-house. This level of operational control is designed to address long-standing consumer concerns around refurbished device quality. Each product is processed through a more than 50-point inspection framework at the company’s 1,860 square meter renewal facility in Gurugram and is supported by warranties of up to 12 months.
Revenue growth trajectory
The company has reported a nine-fold increase in revenue, rising from approximately € 270,000 in FY23 to around € 2.4 million in FY25, and is targeting roughly € 4.7 million in FY26. More than 15,000 devices were sold in FY25, underscoring the growing acceptance of refurbished premium electronics as new device prices continue to climb. Grest currently serves over 200,000 customers alongside more than 100 enterprise and institutional clients.
Omni channel retail strategy
As part of its expansion roadmap, Grest plans to open five company-owned and company-operated retail stores by March 2026, while deepening partnerships with large format retailers and Apple premium resellers. Existing collaborations with Flipkart, Croma, Reliance Digital and Sangeetha Mobiles have strengthened the company’s multi-channel reach, enabling it to capture both online demand and in-store footfall across urban centres.
Sustainability as a driver
Sustainability is positioned as a core commercial lever rather than a peripheral benefit. Grest states that its operations align with United Nations Sustainable Development Goals 12 and 13 and claims to have avoided more than 15,500 metric tonnes of CO2-equivalent emissions by extending device lifecycles and reducing electronic waste. These metrics are increasingly relevant for enterprise buyers and institutional partners integrating circular economy targets into procurement strategies.
Investor perspective
According to Jeenendra Bhandari of JIIF, India’s recommerce sector is benefiting from structural tailwinds driven by higher device prices, rising sustainability awareness and increasing trust in organised refurbished players. Grest’s emphasis on quality assurance and transparency is viewed as a differentiator as the premium recommerce segment matures and formalises.
Positioning in a competitive market
With over 500 active SKUs and a redistributor network exceeding 300 partners, Grest is building scale in an increasingly competitive landscape. The funding round signals broader momentum in India’s closed secondary mobile market, where organised platforms are moving beyond opportunistic resale towards industrialised renewal and lifecycle management amongst fierce competition.
Via: cxotoday.com
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