Refurbished electronics company ReFit Global has secured $1 million in seed funding from a family office based in the UAE. The company previously appeared on Season 3 of Shark Tank India.
According to a press release, the funding will support the expansion of its retail network, upgrades to refurbishment operations, investments in technology infrastructure and the development of an integrated omnichannel platform.
Expanding distribution and retail operations
Founded in 2018 by Saket Saurav and Avneet Singh, ReFit Global operates across electronics refurbishment, distribution, retail and related consumer channels. Its strategy centres on bringing these activities together through technology, refurbishment expertise, distribution networks and omnichannel sales.
Headquartered in Delhi, the company says its distribution network includes more than 75 distributors, over 2,000 wholesalers and upwards of 50,000 retail outlets across India. This reach allows it to serve customers in metropolitan markets as well as Tier 1, Tier 2 and Tier 3 cities.
Alongside its B2B distribution operations, ReFit has established 12 physical retail outlets under the ReFit Xpress brand. Its sales channels include online marketplaces, offline stores and brand partnerships, with sourcing and sales relationships involving platforms such as Flipkart and Amazon.
The company plans to broaden its business-to-business (B2B) and direct-to-consumer (D2C) operations across the refurbished electronics value chain.
Technology-led refurbishment capabilities
ReFit reports a refurbishment yield of 92% and repair capabilities extending to Level 4 (L4), which includes advanced chip-level repairs.
Its technology-driven processes cover device diagnostics, automated quality inspections, grading, post-quality-control procedures and inventory management. The company says these systems are intended to improve device consistency, operational transparency and product reliability.
India’s refurbished electronics market grows
India’s refurbished smartphone volumes increased 13% year-on-year in the first half of 2026, while organised players accounted for approximately 20% of the market, pointing to further opportunities for formalisation.
Companies including Cashify, ControlZ, GREST and Budli are building their presence in organised electronics re-commerce through certified devices, warranties, trade-ins and direct-to-consumer sales.
The sector has also seen funding and consolidation activity. Vingo raised ₹10 crore in seed funding led by IndiaQuotient earlier this year, while Flipkart acquired electronics re-commerce company Yaantra to strengthen its refurbishment capabilities.
ReFit’s latest funding will support its efforts to scale distribution, improve refurbishment operations and develop a more integrated retail and technology platform as competition in India’s refurbished electronics market increases.
