Stryv Raises $11.5 Mn to Build Consumer Brand Group Beyond Grooming

Singapore-based Stryv, which makes hair dryers, stylers, shavers and other personal electronic devices, has raised $11.5 Mn in Series B led by Indonesia-rooted investment firm ACV Capital (formerly AC Ventures). The latest funding will accelerate its shift into a broader home and personal care business through product expansion and acquisitions.

Openspace Capital and OCTAVE Capital also participated in the round alongside other investors, the company said. The proceeds will support its entry into Taiwan, expansion in Malaysia and Hong Kong, research and development and brand acquisitions that complement its existing portfolio.

The funding follows Stryv’s March acquisition of Singapore home appliance brand Sterra, a deal that took Stryv beyond grooming devices into air and water purification and other household products. It paid for the acquisition from its own balance sheet and did not disclose the terms.

Together, the acquisition and the funding signal a shift in the company’s growth strategy. Instead of relying solely on developing and selling products under one brand, Stryv is seeking to build a multi-category consumer business that can expand through new product launches and acquisitions of established brands.

Stryv is owned by Evo Commerce, founded in 2020 by a team that included former Grab executives Roy Ang and Minghao Teoh. Evo Commerce also owns BBack and Mantou brands. The Stryv brand was launched in 2023, initially focussing on design-led personal care and grooming electronics for Asian consumers. It sells through its website, e-commerce platforms and more than 2,000 retail points, including 30 retail stores across Singapore, Malaysia and Hong Kong, Vulcan Post reported in March.

The acquisition brought a well-known home appliance portfolio to about 200,000 households in Singapore. Sterra Tech’s unaudited accounts also showed S$16.6 Mn in revenue and a S$2.3 Mn net loss for the year to June 2025, according to Vulcan Post.

The integration has already begun to influence Stryv’s product development. Since September, the company has introduced the Oasis massage chair and Halo air purifier, drawing on Sterra’s expertise in home-care products. The remaining steps of the brand merger are expected to be completed in the coming months, although Stryv said in March that Sterra would continue as a standalone brand.

The move into home wellness offers opportunities to sell products across more categories and potentially build longer customer relationships. But it also increases the demands on inventory management, product development, after-sales service and quality control, particularly as Stryv expands beyond Singapore.

The regulatory issues involving Sterra also highlighted the importance of consumer trust before the next move. In August 2024, Singapore’s Competition and Consumer Commission said that the company made false and misleading marketing claims about Singapore’s tap water safety, the origin of specific appliances and advertised discounts.

Sterra apologised and undertook to stop the practices and strengthen its internal marketing compliance processes. The regulator accepted the undertakings, warned the company and its directors, and closed the investigation.

When Stryv announced the acquisition in March, it said it would fold Sterra’s teams into its own, have its technicians support customer service and honour existing warranties. It also said it had reviewed the 2024 investigation during due diligence. Those measures support its ambition to expand the acquired brand alongside Stryv’s existing product lines.

For ACV Capital, the investment reflects a broader consumer opportunity. Managing partner Helen Wong said demand for personal care and home wellness products is creating opportunities in areas such as clean air and water, and pointed to Stryv’s emphasis on design and value for money.

Stryv’s chief executive and co-founder Roy Ang said the funding supports its ambition to develop a multi-category portfolio of personal and home-care products for families across Asia.

The company is also looking beyond organic expansion. Acquiring brands with complementary products or established customer bases could provide access to new markets, distribution networks and specialist capabilities faster than building each business independently.

But that strategy carries execution risks. Integrating acquisitions while entering new countries requires investment in local management, distribution, customer support and compliance. In comments to DealStreetAsia, Ang identified Taiwan as the immediate expansion priority and said the company would remain open to entering other markets through acquisitions.

The latest round brings Stryv’s cumulative funding to about $20 Mn, according to Ang’s comments to DealStreetAsia. But the company did not disclose its Series B valuation. Ang told Vulcan Post in March that Stryv closed 2025 profitably on eight-figure revenue and that the combined business aimed for nine-figure revenue in 2027.

There is also a possible longer-term capital markets angle. DealStreetAsia reported in August that Stryv was exploring a listing on the Singapore Exchange’s Catalist board. However, the company has not announced a formal IPO plan, timetable or transaction terms.

For now, the more immediate question is whether Stryv can turn a portfolio spanning grooming electronics, air and water purification and home comfort into a commercially sustainable regional business.

The $11.5 Mn investment gives it additional capital to pursue that strategy. Its success will depend not simply on adding brands and products, but on whether those additions generate sufficient sales, operating efficiencies and customer loyalty to justify the cost of expansion.