Grest, an India-based premium refurbished electronics platform, has secured foreign direct investment from ICMG as part of its ongoing undisclosed Pre-Series A funding round, marking its first overseas investment.
The development comes as India’s refurbished electronics market continues to formalise, with industry estimates pointing to around 20 million used smartphones traded in 2024 and a growing shift towards premium devices.
Founded in 2018 by Shrey Sardana and Nitin Goyal, Grest is focused on building an omnichannel platform to deliver a consistent buying experience as it scales within the organised refurbished electronics segment.
Speaking about the funding round, Shrey Sardana, Cofounder of Grest said, “As consumer journeys become increasingly omnichannel, the opportunity lies in building a trusted, organized platform anchored in quality and transparency. At Grest, we are focused on scaling our omnichannel presence to deliver a consistent experience and emerge as a leading player in India’s premium refurbished electronics category.”
Commenting about the investment in Grest, Gen Funahashi, CEO of ICMG said, “In Japan, we have seen firsthand how consumer attitudes toward refurbished electronics have shifted. What was once considered a compromise is now a conscious, mainstream choice driven by both economic and environmental values. We believe India is at a similar inflection point.”
“Grest is building the trust infrastructure that this transition requires, and we are excited to support them at this early stage of their journey. We also aim to open up co-creation opportunities for Grest in international markets with our Japanese network,” Gen further added.