India Accelerator leads seed round in Grest to strengthen its focus in re-commerce industry

India Accelerator, a homegrown fund-led accelerator with its Global Investor Network, iAngels, has recently invested an undisclosed amount in Grest, a premium refurbished iPhone store in India. 

The investment marks a strategic decision for IA to invest in a marketplace that aspires to be a Hi-tech re-commerce company and is aggressively pursuing its robust IT roadmap to grow business at scale. 

Grest's market presence

Incepted in 2018, Grest has scaled its offline distribution, strengthened tech capabilities and optimised its supply chain. In a span of three years, the Gurugram-based company pivoted to a tech-enabled, fully integrated reverse commerce company with a vision to become India's most sought-after premium refurbished brand. 

By leading the investment round in Grest, IA aims to back the company's rapid expansion, enabling it to scale operations nationwide with a focus on establishing its presence in the remotest and underserved cities across India.

Leadership comments

Commenting on the investment announcement, Mona Singh, Co-Founder & Director of India Accelerator said, “By leading the investment in Grest, IA drives innovation in reverse logistics, refurbishment and supply chain optimization to make premium refurbished devices more accessible and mainstream. This aligns with our broader investment thesis of supporting customer-centric business models that not only drive profitability but also contribute to sustainability and long-term industry evolution.” 

Shrey Sardana, Co-founder and CEO of Grest, said, "We are thrilled to have IA as a partner in our journey to redefine the e-commerce landscape. This investment will bring us a step closer to our broader visions of bringing premium refurbished devices to remote cities of India. We deeply appreciate IA's confidence in our vision."

Enhancing technology infrastructure

Additionally, Grest will enhance its technology infrastructure to solidify its leadership position in the re-commerce ecosystem. It will also deploy a portion of funds in driving revenue-focused initiatives, building operational efficiencies and improving customer engagement.

With this capital infusion, IA backs the company's mission to fuel a 2x revenue growth within the next two quarters while laying a strong foundation for long-term scalability and impact. 

India’s re-commerce ecosystem is growing at an unprecedented pace to become the big catalyst globally. Factors such as G20 policies for refurbishment in India, launch of the Re-Commerce India Initiative and encouragement of recycling and reuse of electronic waste are pushing the industry towards an exponential boom.

By investing in Grest, IA has backed a strong supply chain experience and fuels the company's global expansion in Africa and the UAE.