Trind VC leads funding round supporting the transaction, which will strengthen the region’s circular electronics infrastructure
Tallinn, Estonia, 6 August 2026 – Circular economy startup Ringy has acquired UPGREAT, the Baltics’ largest retailer of used and refurbished electronics. The transaction was supported by a funding round led by Trind VC, a long-term investor in Ringy.
Financial details of the acquisition and funding round have not been disclosed. The companies generated more than €15 million in combined revenue in 2025.
The acquisition combines Ringy’s international sourcing, technology and sales network with UPGREAT’s recognised Baltic brand, retail presence and technical refurbishment capabilities. UPGREAT will continue operating under its existing brand and with its current team.
“Circularity requires 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,” said Kristo Kraft, CEO of Ringy. “By joining forces with UPGREAT, we can strengthen that infrastructure across the Baltics and return significantly more electronics to productive use.”
Founded in Tallinn in 2021, Ringy has helped more than 100,000 devices find new owners across nearly 40 markets. According to the company’s calculations, this has avoided more than 4,500 tonnes of CO₂ emissions.
UPGREAT operates three stores—at Lasnamäe Centrum and T1 in Tallinn and at the SĀGA shopping centre in Riga. Its devices undergo comprehensive technical inspection by the company’s Apple-certified repair technicians and are sold with warranties of up to two years.
“UPGREAT and Ringy share the same mission: to make refurbished electronics as natural a consumer choice as buying a pre-owned car,” said Kristjan Nemvalts, CEO of UPGREAT. “Together, we can offer customers a larger and more diverse selection of professionally inspected devices while creating a strong foundation for regional growth.”
Refurbished electronics remain a single-digit share of the Baltic device market, according to Ringy’s estimates, leaving considerable room for growth. The combined company plans to expand its product selection, refurbishment capacity and regional reach while extending the useful life of more electronic devices.
“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.
Trind VC has backed Ringy for several years. The new investment supports Ringy’s ambition to build a scalable recommerce platform covering the device lifecycle from trade-in and evaluation to repair, resale and reuse.
About Ringy
Ringy is a Tallinn-based circular economy company founded in 2021. Its sourcing, buyback and sales solutions have helped more than 100,000 electronic devices find new owners across nearly 40 markets.
About UPGREAT
UPGREAT is the Baltics’ largest retailer of used and refurbished Apple devices. Founded in Estonia in 2020, it operates three stores in Tallinn and Riga and sells professionally inspected devices with warranties of up to two years.
