ReFit Global, an India-based refurbished electronics startup, has raised $1 million in a seed funding round from an undisclosed UAE-based family office.
The company plans to use the capital to expand its retail footprint, strengthen its refurbishment capabilities, invest in technology infrastructure and develop an integrated omnichannel platform connecting its retail and business channels. ReFit is also looking to pursue business opportunities in the Gulf and Africa.
ReFit Global was co-founded by Saket Saurav and Avneet Singh. The company operates across the refurbished electronics value chain, including device sourcing, refurbishment, distribution and retail. ReFit’s official website identifies Saurav as co-founder and CEO and Singh as co-founder and COO.
The company says its pan-India distribution network includes more than 75 distributors, 2,000 wholesalers and 50,000 retail outlets. It also operates its own retail presence while serving customers through online and offline channels.
