Tech
Stryv acquires Sterra, eyes 9-figure revenue by 2027
Sterra will continue to operate as a standalone brand
Singapore-based consumer electronics startup Stryv has fully acquired home appliance brand Sterra for an undisclosed amount.
As part of the deal, Sterra will continue to operate as a standalone brand, with its CEO Chris Lim taking on an advisory role, Stryv CEO Roy Ang told Tech in Asia.
Both firms will now operate under Evo Commerce, a wellness and personal care D2C brand builder formerly called Evolut Holdings. Evo Commerce is also the parent company of Stryv. Evo Commerce’s brand portfolio spans Bback (supplements) and Mantou (shampoo), and its backers include East Ventures, IJK Capital Partners, and Bonjour Holdings.
Stryv focuses on personal care devices—hairdryers and men’s shavers priced between US$149 and US$189. Meanwhile, Sterra specialises in water and air purifiers with a broader price range of US$189 to US$1,999.
In 2023, Sterra said that it was earning eight figures in revenue at the time, and making a net profit in just two years while being entirely bootstrapped.
According to The Business Times, unaudited financial numbers for Sterra Tech, the firm’s entity in Singapore, show that it recorded S$16.6 million in revenue in the fiscal year ending Jun 2025, with a net loss of S$2.3 million.
Following the acquisition, Sterra’s workforce, including its customer service, technical support, finance, HR, sales and marketing teams, will combine with Stryv’s. The transition includes guaranteed warranty continuity for all existing customers.
Stryv’s ambition to becoming a “multibillion-dollar enterprise”
For Stryv, the acquisition marks its entry into the home appliance space and brings it closer to its goal of becoming a “multibillion-dollar enterprise,” said Ang, who is also Evo Commerce’s co-founder and CEO.
“The goal in the next five years is to build Stryv as a key player in the home appliances product category,” he added.
According to Ang, who was formerly regional head of commercial and operations for GrabPay, Evo Commerce had explored multiple expansion paths into home care, but decided on an M&A as the right choice.
If we build our own home-care brand, it will take a couple of years to get substantial data about our customers. If we partner, we are essentially just distributors of the product. Buying was the most viable option.
Roy Ang
Stryv sells its products through its own website, ecommerce platforms, and in over 2,000 storefronts, including 30 retail stores across Singapore, Malaysia, and Hong Kong. Its products can also be found in 2,000 third-party electronics retailers and pharmacies.
The brand is self-funding the acquisition through its balance sheet, with no external investor financing. Ang noted the company closed 2025 profitable, with revenue reaching eight figures, though he declined to provide specific figures to The Business Times.
Part of its strategy, Ang said, is: “We don’t let growth at all costs be our mantra.”
In contrast to consumer electronic brands, which typically spend about 40-50% of their revenue on marketing expenses, Ang pointed out that Stryv spends a low double-digit percentage.
The decisive factor
Both founders of Sterra and Stryv share a long-standing relationship. Lim used to even informally advise Stryv in its early years.
Ang said that his personal friendship with Sterra’s founder made the deal more straightforward, given their mutual familiarity with each other’s brands.
But the decisive factor for Stryv eventually came down to Sterra’s customer and supplier relationships.
Ang shared that Sterra’s products are present in around 200,000 homes in Singapore, providing Stryv with valuable customer feedback to guide Stryv’s future product development.
Sterra’s R&D and customer service team also made the acquisition appealing. Ang noted that Sterra’s team of technicians is “pretty robust,” with most having been with the brand for the past four years, while Stryv has yet to establish its own R&D capabilities.
Moreover, Sterra has access to suppliers for Tier 1 factories in both China and South Korea, while Stryv has mostly tapped suppliers in China.
The acquisition comes despite the challenges Sterra had faced over the years.
In 2024, Singapore’s Competition and Consumer Commission investigated Sterra for falsely claiming that local tap water was unsafe to drink. The brand has since apologised for the incident.
A Stryv spokesperson acknowledged the issue was flagged during due diligence, noting it “was taken seriously, but was not a blocker to the transaction.”
Looking ahead, Ang believes Stryv and Sterra can hit their goal of achieving an overall nine-figure revenue in 2027. He added that Stryv plans to continue focusing on growing its presence across Singapore, Malaysia, and Hong Kong.
That said, while the markets for personal care devices and consumer appliances are expected to grow further in the next four years, Stryv will be facing heated competition.
According to Euromonitor, Singapore’s consumer appliance market reached 4.9 million units in 2025 retail volume sales, and is projected to jump to 5.4 million units by 2030.
Stryv faces three formidable players: Philips currently commands the largest market share in both personal care and consumer appliances, followed by Braun (personal care) and Panasonic (consumer appliances).
The competitive landscape is further intensified by the rising trend of Asian D2C brands and consumer goods companies pursuing acquisitions, with M&A activity accelerating across markets such as Singapore and India.
- Read more stories we’ve written on Singaporean businesses here.