Estonian marketplace for refurbished electronics Ringy raises investment

Tallinn-based marketplace for refurbished electronics Ringy has raised investment from Estonian Trind Ventures and a number of Estonian companies. The amount of the deal was not disclosed. 

According to public information, Trind Ventures acquired 6,29% in the startup. Vehicle maintenance company Cargoservice, owned by Heigo Kraav, bought 0,46% in Ringy. 0,46% was acquired by Estonian Business School Group, which is 92% owned by the finance and insurance company Madis ja Marje Habakuke Sihtasutus of Marje Habakuk and Mart Habakuk. 0,39% of Ringy was acquired by the real estate company Allseas Invest, owned by Igor Klimovskih and Jekaterina Klimovskih, and 0,31% - by the financial and insurance company Tikrikast, owned by EstBAN member Tarmo Kivi.

Founded in 2020 by Oliver Läll, Taavi Tuisk, Kristo Kraft, and Ionut Iordachescu, Ringy has developed a platform that connects refurbishers, retailers, and businesses to maintain the lifecycle of used electronics. Ringy buys old electronics from individuals and companies, upgrades them through refurbishment partners, and sells them. The company offers buy-back and sales management services to refurbishers. The buy-back system provides partners with real-time information on device prices and diagnostics. The sales solution allows Ringy to integrate with refurbishers and marketplaces. The integration helps to implement automatic device list matching, sales analytics, and tracking of sales data and performance metrics. Ringy also offers an inventory system that helps companies reduce returns.

The technology company will use the investment to design a new solution for buying back electronics.

Trind Ventures is an early-stage venture fund with an initial ticket of €100K - €1M, and follow-on investments up to €5M per company. The partners are Joel Aasmäe, Ivar Siimar, Kimmo Irpola, Taavi Lepmets, and Reima Linnanvirta.