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Japan VC Bets Big on India's Refurbished Tech
22 Apr
Summary
- Grest, a refurbished electronics firm, secured FDI from Japan's ICMG.
- India's refurbished market is valued at 154 million units in 2024.
- Japanese investor sees India at an inflection point for refurbished goods.
Refurbished electronics firm Grest has announced the receipt of foreign direct investment from Japan's ICMG. This significant early-stage, cross-border capital injection underscores a rising global interest in India's fast-formalizing recommerce sector.
The Indian refurbished electronics market is projected to reach 154 million units in 2024, exhibiting a 5.5% year-on-year growth. Industry experts observe a distinct trend towards premium devices within this expanding market.
This investment from ICMG signifies a broader shift in capital flows, with foreign investors showing increasing confidence in India's recommerce infrastructure and its long-term demand potential. The participation aligns with global circular economy trends, emphasizing the value of refurbished and reused electronics.
ICMG CEO Gen Funahashi noted that Japan has witnessed a transformation in consumer attitudes, where refurbished electronics are now a conscious choice driven by economic and environmental factors. He believes India is approaching a similar pivotal moment in consumer behavior regarding pre-owned devices.
