Sterra will continue to operate as an independent brand
A Singaporean consumer electronics startup Stryv completely found the type of household goods The Sterra for an undisclosed amount.
As part of the deal, Sterra will continue to operate as an independent brand, with its CEO Chris Lim taking on an advisory role, Stryv CEO Roy Ang said. Technology in Asia.
Both firms will now operate under Evo Commercea D2C wellness and personal care product developer formerly known as Evolut Holdings. Evo Commerce is also the parent company of Stryv. Evo Commerce’s product portfolio is extensive Back (appendices) and Mantou (shampoo), and its backers include East Ventures, IJK Capital Partners, and Bonjour Holdings.
Stryv specializes in personal care products—men’s hair dryers and shavers priced between US$149 and US$189. Meanwhile, Sterra focuses on water and air purifiers with a wide price range of US$189 to US$1,999.
By 2023, Sterra said he was earning eight figures in revenue at the time, and was turning a profit in just two years while being completely bankrupt.
In accordance with The Business TimesRaw financial numbers for Sterra Tech, the company’s Singapore business, show it recorded revenue of S$16.6 billion for the financial year ending June 2025, with a net loss of S$2.3 billion.
Following the acquisition, Sterra’s staff, including customer service, technical support, finance, HR, sales and marketing teams, will merge with Stryv’s. The change includes the continuation of the guaranteed warranty for all existing customers.
Stryv’s ambition to become a “billion dollar business”
For Stryv, the acquisition marks its entry into the home electronics space and brings it closer to its goal of becoming a “multi-billion dollar business,” said Ang, who is also the founder and CEO of Evo Commerce.
“The goal over the next five years is to build Stryv as a key player in the home appliance product segment,” he added.
According to Ang, who was GrabPay’s regional head of commerce and operations, Evo Commerce had explored many options for home care expansion, but decided on M&A as the right choice.
When we build our home care brand, it will take a few years to get valuable data about our customers. When we are partners, we are actually distributors of the product. Buying was the most viable option.
Roy Ang
Stryv sells its products through its website, ecommerce platforms, and over 2,000 storefronts, including 30 stores across Singapore, Malaysia and Hong Kong. Its products can also be found in 2,000 third-party electronics stores and pharmacies.
The brand is self-financing the acquisition through its balance sheet, with no funding from outside investors. Ang noted that the company is set to turn a profit by 2025, with revenue reaching eight figures, although he declined to provide specific figures. The Business Times.
Part of its strategy, Ang said, “We don’t let growth in any way be our mantra.”
Unlike consumer electronics brands, which typically spend around 40-50% of revenue on marketing costs, Ang pointed out that Stryv spends a low double-digit percentage.
The decisive factor
Both the founders of Sterra and Stryv share a long relationship. Lim often informally mentored Stryv in his early years.
Ang said his friendship with the Sterra founder made the deal a coincidence, given their familiarity with each other’s products.
But the deciding factor for Stryv ultimately came down to Sterra’s customer-supplier relationships.
Ang shared that Sterra products are present in nearly 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 attractive. Ang noted that Sterra’s technical team is “really strong,” most of whom have been with the product for the past four years, while Stryv has yet to establish its own R&D capabilities.
In addition, Sterra has access to Tier 1 industrial suppliers in both China and South Korea, while Stryv has largely purchased suppliers in China.
The acquisition comes on top of challenges Sterra has 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 apologized for the incident.
A spokesperson for Stryv acknowledged that the matter had been flagged during the investigation, saying it was “taken seriously, but was not a deal-breaker.”
Looking ahead, Ang believes Stryv and Sterra can reach their goal of achieving nine-figure total revenue by 2027. He added that Stryv plans to continue to focus on expanding its presence across Singapore, Malaysia, and Hong Kong.
That said, while the markets for personal care devices and consumer devices are expected to grow significantly over the next four years, Stryv will face intense competition.
According to Euromonitor, Singapore’s consumer goods market reached 4.9 million units in 2025 in terms of sales volume, and is expected to jump to 5.4 million units in 2030.
Stryv faces three formidable players: Philips currently controls the largest market share in both personal care and consumer electronics, followed by Braun (personal care) and Panasonic (consumer goods).
The competitive environment is further strengthened by the growing trend of Asian D2C brands and consumer goods companies pursuing acquisitions, with M&A activity developing across markets such as Singapore and India.
- Read more stories we’ve written about Singapore businesses here.
Featured Image Credit: Stryv
