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Refurbished electronics startup ReFit Global raises $1 million from UAE-based family office

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Refurbished electronics startup ReFit Global raises $1 million from UAE-based family office

Refurbished electronics startup ReFit Global has raised $1 million in a funding round from a UAE-based family office, as it looks to expand its operations in India and explore business opportunities in the Gulf and Africa.

The Delhi-based startup said the fresh capital will be used to expand its retail footprint, strengthen refurbishment capabilities, invest in technology infrastructure and develop an integrated omnichannel platform.

The UAE-based family office is also expected to help ReFit access potential partners, customers and business opportunities in Gulf and African markets.

“This round marks an important milestone for ReFit Global and validates the strength of the ecosystem we have been building,” co-founder Saket Saurav said.

ReFit Global was started by Saurav and Avneet Singh and operates across the refurbished electronics market, including refurbishment, distribution and retail.

ReFit said its pan-India distribution network spans more than 75 distributors, 2,000 wholesalers and 50,000 retail outlets. The startup also operates 12 ReFit Xpress outlets alongside its business-to-business distribution network.

ReFit works across online marketplaces and offline retail channels, with sourcing and sales relationships involving platforms including Flipkart and Amazon.

The startup was also featured on Shark Tank India Season 3, which it said helped increase consumer awareness of the business.

ReFit reports a refurbishment yield of 92% and repair capabilities extending up to L4, including chip-level repairs.

Its refurbishment processes cover device diagnostics, automated quality checks, grading, post-quality-control procedures and inventory management.

The startup plans to use part of the new funding to further strengthen these refurbishment capabilities and its technology infrastructure.


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