Singapore-based direct-to-consumer personal care brand Stryv has announced raising $11.5 million in a Series B funding round led by ACV Capital.
The financing was also supported by Openspace Capital and OCTAVE Capital, Stryv said in a statement. The latest round brings the company’s total funds raised to date to about $20 million, Roy Ang, CEO and co-founder of Stryv, told DealStreetAsia.
The fundraising comes as DealStreetAsia reported earlier that the company is exploring a potential listing on the Singapore Exchange’s Catalist Board as it looks to fund the next phase of its growth.
The company plans to use the proceeds to enter markets including Taiwan and expand its operations in Malaysia and Hong Kong.
Ang said Stryv is currently focused on Taiwan, as entering each new market requires having the right people on board to make it happen
“That said, the company is open to entering new markets quickly through acquisitions if the opportunity arises,” he added.
It will also increase investment in research and development and pursue acquisitions of brands that complement its business, per the announcement.
Ang said the funding would support its ambition to build a multi-category ecosystem of personal and home care products for families across Asia.
Evo Commerce, founded in 2020 by former Grab executives Ang and Minghao Teoh, launched its personal care brand Stryv in 2022.
Stryv says it designs and sells affordable, premium-quality grooming and beauty products, including hair styling tools, hair care, and personal care products, tailored for Asian consumers.
The company acquired Singapore-based home appliances brand Sterra in March 2026, adding a presence in 200,000 households and expanding into the home appliances category.
Stryv said the acquisition has enabled it to move beyond personal care products such as hair dryers, stylers, and shavers into home wellness. The company has launched the Stryv Oasis massage chair and Stryv Halo air purifier since September.
The lead investor in the Series B round, ACV Capital, is a Southeast Asia-focused private equity investment firm headquartered in Indonesia. It manages more than $500 million across five funds and has invested in more than 100 companies over the past eight years, according to its website.
In August, DealStreetAsia reported that Stryv was exploring a potential listing on the Catalist Board. Sources said the company was evaluating a Catalist listing to support regional expansion, strengthen its technology platform, and enhance brand visibility.
The latest deal also comes as global private equity is snapping up Asia’s personal care and beauty brands like never before.
From Japan’s iconic Gatsby line to fast-growing Korean beauty and Chinese skincare brands, investors are betting on rapid consumer demand, turning household names into the newest battleground of private equity play.
For instance, CVC revised its binding offer to privatise Japan’s personal care company Mandom at 3,105 yen per share, slightly above KKR’s revised 3,100 yen offer earlier this year. Bain Capital also agreed to acquire FineToday Holdings from CVC Asia Fund V in a deal estimated at 200 billion yen ($1.3 billion), after the asset reportedly received competitive bids from Blackstone and KKR.
