Stryv Raises $11.5 Million in Series B Round Led by ACV Capital

Singapore-based direct-to-consumer personal care brand Stryv has secured $11.5 million in a Series B funding round led by Indonesia-headquartered ACV Capital. The fresh injection lifts the company’s total capital raised to date to about $20 million, according to CEO and co-founder Roy Ang.

Openspace Capital and OCTAVE Capital also backed the round, Stryv confirmed in a statement. The company will deploy the proceeds to enter Taiwan, expand operations across Malaysia and Hong Kong, scale research and development, and pursue acquisitions of complementary consumer brands.

Evo Commerce, established in 2020 by former Grab executives Ang and Minghao Teoh, launched the Stryv brand in 2022. The fundraising comes as the business explores a potential public listing on the Singapore Exchange’s Catalist Board to fund its next stage of regional growth.

Financing Regional Operations

Ang said Stryv is currently focused on Taiwan, noting that entering each new market requires having the right local team in place to execute.

“That said, the company is open to entering new markets quickly through acquisitions if the opportunity arises,” he added.

The company designs and retails affordable, premium-quality grooming and beauty products tailored for Asian consumers, including hair styling tools, hair care formulations, and shavers.

From Grooming to Household Appliances

Stryv acquired Singapore-based home appliances brand Sterra in March 2026, adding a footprint in 200,000 households and expanding beyond grooming tools into home wellness hardware.

Following that purchase, the company launched the Stryv Oasis massage chair and the Stryv Halo air purifier since September. Ang noted that the capital supports Stryv’s broader ambition to build a multi-category ecosystem of personal and home care products for households across Asia.

Lead investor ACV Capital manages more than $500 million across five funds and has invested in over 100 businesses during the past eight years, according to its website.

Private Equity Competition for Beauty and Care Assets

The financing coincides with aggressive dealmaking across Asia’s personal care and beauty landscape, where global private equity sponsors are acquiring established brands to capture resilient consumer demand.

Recent transactions show the momentum: CVC revised its binding offer to privatise Japan’s Mandom at 3,105 yen per share, topping KKR’s revised 3,100 yen offer. Meanwhile, Bain Capital agreed to purchase FineToday Holdings from CVC Asia Fund V for an estimated 200 billion yen ($1.3 billion) following competing bids from Blackstone and KKR.

Public Listing Plans on the Catalist Board

In August, DealStreetAsia reported that Stryv was exploring a potential listing on the Catalist Board. Sources said the company was evaluating the move to support cross-border expansion, strengthen its proprietary technology platform, and raise brand visibility.