Confidential · Strategic Growth Round · 2026
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Confidential · Strategic Growth Round 2026
HYRO
Strategic growth round 2026

Building Australia's next billion-dollar consumer brand.

On a mission to build the world's most loved hydration brand, and the next $1B CPG exit. $3M to $4M strategic growth round to accelerate US scale and continued rapid growth in Australia.

$3M to $4M round$1.5M committed, SSV leadingUS scale + AU growth
July 2026
FAST
Active person with Hyro
Investment snapshot

Australia's fastest-growing hydration brand.

Hyro is a daily-ritual hydration platform built for the active adult majority the category forgot. In 27 months we've grown from $7K to a $1.5M+ month, crossed 19,000 active subscriptions and built a modelled 5.4x month-36 GP LTV:CAC engine. This round accelerates US scale, retention engineering and the next daily-routine products.

$19M+
Current run rate
19,000+
Active subscriptions
+286/day
New subscriptions per day
0%
First-order subscription take rate
0x
Modelled GP LTV:CAC at month 36
0%
GP1 on online & subscription orders
NOW
Hyro Orange & Mango sachets lifestyle
Why now

A $38B category growing to $69B by 2030, and powders are taking share.

Single-serve stick packs are the category's fastest-growing format, and 85% of surveyed consumers own and use a reusable bottle. Powder-to-bottle is becoming a daily default, pairing high repeat purchase with attractive margins and portable convenience.

The category is on a step-change

  • $38B → $69B global sports drink category, 2023 to 2030.
  • Powders are taking the growth from sugar-loaded RTDs as the daily-use default.
  • Subscription-led DTC is the proven distribution layer for premium functional powders.

Strategic appetite has shown up four times

  • Unilever acquired Grüns for ~$1.2B in April 2026, ~33 months after first sale.
  • Unilever acquired Liquid I.V. in 2020, the prior strategic exit benchmark in hydration.
  • IM8 reportedly hit ~$120M ARR in 12 months on a single-SKU daily-wellness format.
  • AG1 ~$600M ARR, last reported valuation ~$1.2B.
NEED
Consumer need

Hydration went mainstream. The shelf is still built for athletes and sick people.

80% of the adult population don't drink enough water. The US guideline is 8 cups a day, yet only 1 in 5 adults hit it and nearly half drink fewer than 4. The cost is daily: fatigue, headaches, brain fog and poor focus. Hyro makes proper hydration something people actually want to do, the daily-use brand for the active adult majority.

Woman on pilates mat with Hyro
01
Gym & Pilates regulars

Train 4-6x a week, didn't want Gatorade.

02
Busy parents

Dehydrated by kids, coffee, fast days.

03
Hybrid professionals

Swapping the third coffee for hydration.

04
Wellness-curious 18-40s

Function and taste, no sugar or medical packaging.

05
Travel & recovery

Flights, heat, big nights, recovery days.

Used across the whole day

A daily ritual · not a special occasion
06:00
Morning
First thing, before coffee.
08:00
Workout
Pre + post-train, sports drink without the sugar.
12:00
Workday
Work, school run, long drive.
15:00
Heat & Travel
When water alone isn't enough.
22:00
Recovery
Big night, rehydration ritual on the bedside table.
RANGE
Product, formula and positioning

Our playful performance positioning is winning on & off the field.

Playful performance, not clinical or elite-only. Hyro sits between medical hydration, sports drinks and premium wellness powders, combining meaningful sodium, potassium and magnesium with zero added sugar. It is built for the gym-goer, busy parent and desk-bound professional, not just elite athletes, and priced for daily use.

Hyro product range
As seen inForbesSunrise9NewsThe Daily Telegraphnews.com.aumarie claire
0
Average rating
0K+
Orders shipped
0K+
Email subscribers
0K+
Instagram followers
BrandPositioningSodiumPotassiumMagnesiumAdded sugar
Playful performance500mg250mg100mg0g
Hangover hydration510mg370mg0mg11g
Sick-day rehydration210mg156mg0mg2g
Sports performance270mg75mg0mg21g
Keto / endurance1,000mg200mg60mg0g

Source: competitor brand nutrition information panels, AU retail and DTC, May 2026. Hydralyte values shown for Electrolyte Powder, 200mL serve. Hyro delivers a daily-use formula no other major brand combines: meaningful sodium, potassium and magnesium, zero added sugar.

GROWTH
Revenue trajectory

$7K to $1.51M monthly revenue in 27 months.

Twenty-seven months. $7K to a closed $1.51M July. ~3x blended ROAS across the journey. We sold out eight times, and inventory constrained growth repeatedly.

0%
Compound monthly growth across closed actuals to July 2026
0x
Blended ROAS maintained through scale and stockout periods
0%+
Of revenue online and direct-to-consumer, not wholesale
STACK
Subscription engine

From 20 new subs a day to 286 a day in 12 months.

Hyro is structurally a subscription business. We're at 19,000+ active subscriptions across AU and US, with the trailing 30 days running at 286 new subscriptions a day. 80% of first-order acquisition converts into recurring revenue, so paid growth compounds into a subscription base.

19,000
Active subscriptions
$1.39M
Subscription only MRR
0%+
First-order subscription take rate
0%
Steady-state monthly churn
PAYBACK
Subscription unit economics

FOUR-MONTH UNDERWRITTEN PAYBACK.
5.5x RETURN AT MONTH 36.

Cohort cash payback averages about two months, while the deck conservatively underwrites gross-profit payback within four months. By month 36, modelled gross profit reaches $416 per subscriber against $76 subscription CAC, a 5.5x return.

0x
GP LTV:CAC at M16 actual
$0
M36 GP LTV per sub
$0
Subscription CAC
0x
Modelled GP LTV:CAC at M36
RETAIN
Retention engine

FIVE RETENTION STRATEGIES FOR BEST-IN-CLASS LTV & CHURN.

Mature cohorts currently show 5.8% monthly churn. Five compounding levers target further improvement while lifting AOV and reducing avoidable churn moments.

Steady-state monthly churn
0%
01
Win-back & cancel recovery
Skio cancel-flow + automated win-back flows. 35% cancel save rate.
02
Self-serve control
Skip, swap, pause, change flavour or frequency.
03
First-30 onboarding
Lifecycle email + SMS in the high-churn window.
04
Free-gift hold points
Targeted incentives at flagged attrition windows.
05
Tiered interval pricing
Bimonthly and quarterly discounts lift AOV and reduce churn.
RETAIL
Wholesale & team partnerships

200+ retailers & teams. 100% inbound demand.

Hyro earns wholesale after proving demand direct. National retailers, sports specialists and elite teams now come to us, expanding distribution without a field sales team. Our distributor is 8x ahead of forecast. Zero outbound spend.

200+Retailers, stockists & teams
100%Inbound demand
8xDistributor ahead of forecast
$467KWholesale revenue through July, net
Retail, distribution & sports specialty
National reach. Specialist credibility.
Elite teams choosing Hyro
NRL. AFL. State of Origin.
Penrith Panthers
GWS Giants
Canberra Raiders
NSW State of Origin
Carlton FC
Manly Sea Eagles
Sydney Roosters
Melbourne Football Club
GROWTH
Growth story

+75% AVG COMPOUND GROWTH, EVERY QUARTER SINCE INCEPTION.

From a kitchen bench to a $19M+ run-rate in 27 months. Product, brand and category fit from day one. Nine straight calendar quarters of compounding, consistently ahead of our own milestones and forecasts.

DTC Wholesale / B2B
$0M
Lifetime AU net sales through July 26
+0%
Year-on-year growth · Q2 25 → Q2 26
$0M
Q2 2026 actual calendar-quarter net sales
0x
Quarterly net sales · Q2 24 → Q2 26
FOUNDERS
Founders & cap table

FOUNDER-LED. BACKED BY STRATEGIC CAPITAL AND CATEGORY OPERATORS.

Steve and Taylor Chapman, Hyro co-founders

Steve & Taylor Chapman · Co-founders

Husband-and-wife founders. Steve scaled Shine to $60M across 7,000 retail stores. Together they built Hyro from the kitchen bench to a $19M current run rate while raising a young family. Steve relocated to California in July 2026 and is leading the US expansion on the ground.

  • Steve Chapman, CEO. Brand, growth, capital and the US launch.
  • Taylor Chapman, Co-founder. Ambassadors, content and the Taylor-at-Hyro customer voice.

Cap table to date

  • $2.2M capital raised across high-net-worths, family offices and athlete and creator-investors.
  • Prior round at $9.2M post-money valuation.
  • Founders hold majority. Clean structure, limited working capital debt.

Advisors

  • AU founders & operators: Eucalyptus, Remedy Kombucha, Heaps Normal.
  • US CPG: Bai, Zico Coconut Water, Seed.
  • Financial: PE, VC, family office and UHNW.
CREW
Ambassadors & equity partners

AUSTRALIA'S LEADING CREATORS AND ATHLETES INVESTED THEIR OWN MONEY AND REPUTATION.

Equity ambassadors with their own capital in the round. 5.9M+ AU combined reach across wellness, AFL, NRL, Rugby, Olympic sport and food culture, plus incoming US celebrities, creators and athletes.

Sarah's Day
Sarah's Day
WELLNESS CREATOR
3.1Mfollowers
Max Gawn
Max Gawn
AFL · MELBOURNE FC
114Kfollowers
Quade Cooper
Quade Cooper
WALLABIES · RUGBY
542Kfollowers
Daly Cherry-Evans
Daly Cherry-Evans
NRL · ROOSTERS
123Kfollowers
Will Day
Will Day
AFL · HAWTHORN
45Kfollowers
Dan Churchill
Dan Churchill
CHEF / AUTHOR
1.7Mfollowers
Reuben Garrick
Reuben Garrick
NRL · MANLY
30Kfollowers
Kendrick Louis
Kendrick Louis
IRONMAN
55Kfollowers
Jessica Spendlove
Jessica Spendlove
PERFORMANCE DIETITIAN
85Kfollowers
Blake Edwards
Blake Edwards
OLYMPIAN
30Kfollowers
Johannes Egberts
Johannes Egberts
BREATHWORK COACH
77Kfollowers
US celebrity (placeholder silhouette)
US Celebrity
INCOMING
TBCfollowers
ENGINE
Operating engine

FIVE HUMANS. FIFTEEN-PERSON THROUGHPUT. $3.8M REVENUE PER FTE.

Capital efficiency
$3.8M
Revenue per Full-Time Employee
5
Full-Time Humans
5+
AI agents in production
6
Specialist agency partners
01 Internal Team
5 FTE

Operating team

  • Mike Dalton: CMO, brand & category playbooks
  • Nicola: CX, ops coordination, founder leverage
  • Nathan: Growth, CRO, lifecycle, US store
  • Julia: Creators, ambassadors, social-proof
  • Emma: Supply chain, inventory, fulfilment
02 AI-Native Layer
5+ agents

AI agents in production

  • Hermes: chief-of-staff, execution orchestration
  • Apollo: growth intelligence, creative testing
  • Atlas: supply chain, purchasing, inventory
  • Plutus: finance cockpit, margins, capital
  • Lisa: customer inbox, escalation discipline
03 External Specialists
6 agencies

Best-in-class partners

  • Ad Creative: high-velocity UGC & static engine
  • Meta Performance Buyer: paid social scale
  • Google Ads Growth: search & YouTube
  • Amazon US/AU: marketplace performance
  • TikTok Shop Growth Partner: shop & affiliate
  • LTV / Retention: lifecycle & subscription depth
Partners have scaled9-figure DTC subscription brands
PLATFORM
The platform underneath

THE BRAND IS THE PRODUCT.
THE AI ENGINE IS THE PLATFORM.

One AI operating layer accelerates every new Hyro SKU, channel and geography. Five humans set direction; the system handles repeatable execution on a daily loop. Point it at the next brand and it runs that too. The platform could outvalue the brand it was built to scale.

01
Sense
Apollo · Atria

Ad data, reviews, demand & inventory into one signal layer.

02
Create
Apollo

Winning angles into scripts, UGC briefs and generated video.

03
Launch
Apollo

Ships across Meta, Google, TikTok & Amazon, tested for velocity.

04
Serve
Lisa

Customer messages triaged, cancel risk surfaced, retention engineered.

05
Supply
Atlas

Forecast to PO to 3PL. Better planning reduces the risk of inventory constraining growth.

06
Steer
Plutus

Margins, cash & capital in a live cockpit, then back to Sense.

Closed loop · every cycle feeds the next · orchestrated by Hermes
Portable
Point it at any product

A new SKU or a whole new brand plugs into the same engine. Days, not quarters.

Compounding
Every cycle trains it

More data, sharper calls. A moat that widens with each loop instead of decaying.

Operating leverage
$3.8M revenue / FTE

The unit economics of software, in physical CPG. Today, not someday.

SUPPLY
Supply chain · Australia

WE OWN THE RECIPE. SPECIALISTS RUN THE MACHINES.

Hyro owns what makes the product Hyro: recipes, flavours and ingredient procurement. Filling, blending and fulfilment run on best-in-class partners with redundancy built in. A 3PL transition and additional production-partner onboarding are designed to compound into gross margin and resilience over the next 12 months.

01 · Procure

Hyro-owned

Recipes, flavours and ingredients procured directly by Hyro. The IP and the input costs stay in our hands, never the manufacturer's.

02 · Blend + fill

Certified co-packers

HACCP and SQF certified food-grade manufacturers on certified specialist production lines. Hyro does not own the machinery; backup and redundant suppliers support resilience.

03 · Fulfil

Robotics-driven 3PL

Robotics-driven fulfilment with a best-in-class WMS across a network of facilities. 99%+ pick accuracy and on-time dispatch at SLA, built to absorb 10x volume.

04 · Deliver

Faster delivery

An optimised courier routing system cuts transit times and freight costs at once. Faster delivery lifts conversion and subscriber retention, savings drop to margin.

Freight + fulfilment feesExecuted · 1 June 2026
20-30%
3PL switch just executedRobotics-driven fulfilment network with automated picking, smarter carrier selection and inventory distributed closer to customers. Savings land across the next 12 months.
Unit costRenegotiation in progress
20-30%
Production capacity expansionAn additional production partner is onboarding, with volume repricing, dedicated line time and dual-supplier redundancy supporting the scale plan.
NEXT
Chapter two

WE'VE DONE A LOT WITH A LITTLE.
AND WE'RE ONLY JUST GETTING STARTED.

In two short years we've built the brand, the products, the supply chain, the subscriber engine and the AI operating layer, to a $19M+ run rate with approximately $2.2M of outside capital before this round. The core engine is built and ready for scale.

Hyro athlete sprinting on track
EXPAND
The expansion thesis · 2026-2030

MASSIVE GROWTH OPPORTUNITY IN FOUR DIRECTIONS.

One brand. Four growth levers that build on the same operating stack. The next four slides take each one in turn.

01 · Channels

From D2C to every fridge and counter

  • D2C + e-comm · Shopify, Amazon, TikTok Shop, the proven core
  • Specialty retail · 200+ stockists, 100% inbound
  • Convenience + pharmacy · FY27
  • Supermarkets · the volume unlock, FY28
4Channels by 2028
02 · Geographies

New markets, same playbook

  • US · the focus, engine live, founder on the ground now
  • Canada · low-lift bolt-on behind the US
  • UK · large active-adult segment, premium DTC model
  • UAE · premium positioning via distributors
5Markets by 2030
03 · Consumers

New customers, same daily ritual

  • Core today · runners, gym-goers, active adults
  • Parents & family · new entry points
  • Gen Z social · TikTok-native, big-night and recovery use
  • Longevity · daily wellness for the health-span generation
5+Target core consumers
04 · Products

More routine, more reasons to subscribe

  • Now · electrolytes, five flavours and counting
  • Now · creatine + electrolytes live
  • Future · RTD cans, focus, sleep, recovery
1Subscription stack
DOORS
Expansion 01 · Channels

EARN THE BRAND ONLINE. BUILD THE BRAND ACROSS EVERY COUNTER.

The channel playbook is sequenced. Subscription D2C builds the brand and the data. Specialty retail proves pull. Convenience and pharmacy put Hyro within arm's reach. Supermarkets turn a cult brand into a household one. Watch the doors open.

0
Tap a stage · hover the doors
GLOBAL
Expansion 02 · Geographies

GLOBAL AMBITION. DISCIPLINED SEQUENCE.

The US is the priority: an electrolyte market 11x the size of Australia's, where the proven Hyro playbook applies directly and category leaders are built. Expansion capital is concentrated there first, with Canada, the UK and the UAE sequenced behind it as the US compounds.

Drag to rotate · tap a marker
01

United States

NOW · THE FOCUS
  • Market entry live: Shopify, Amazon and TikTok Shop active; co-packer and fulfilment capacity scaling
  • Founder relocated July 2026, now on the ground full time
  • 11x the AU hydration market, same playbook, same economics
02

Canada

AFTER US TRACTION

The low-lift bolt-on. Same continent, same 3PL network, same creative, near-identical consumer. Ships from existing US fulfilment with minimal incremental overhead.

03

United Kingdom

SEQUENCED NEXT

Premium DTC replay. Large active-adult segment, strong subscription culture, English-language creative carries straight across. Enters once North America is compounding.

04

UAE

DISTRIBUTOR MODEL

Capital-light entry. Premium positioning through established distribution partners. High disposable income, hot climate, hydration is a daily necessity, not a habit to build.

RITUAL
Expansion 03 · Consumers

WIN THE ACTIVE CONSUMER FIRST. THEN WIN THE HOUSEHOLD.

Active Australians built the brand. Each adjacent segment is unlocked in sequence, with formats and creative purpose-built for it, all feeding the same subscription engine.

Core · Today19,000+ subs

Active lifestyle

  • Runners, gym-goers, hybrid athletes who hydrate as part of training
  • Daily-ritual users: morning routine, workout, recovery
  • 80% subscribe on first order; mature cohorts currently show 5.8% monthly churn and the product holds a 4.7-star average rating
Adjacent · NextHousehold buyers

Parents + family

Hydration for the whole house. Kid-friendly formats and flavours, family-size subscriptions. Mothers, breastfeeding mums, busy corporates who travel: the buyer is often already a Hyro subscriber.

Adjacent · NextTikTok native

Gen Z social

Big nights and bigger mornings. Recovery and social occasions, discovered and bought on TikTok Shop, exactly where they shop. Gifting strategy to influence the influencer.

Adjacent · BuildingFastest growing

Longevity + health-span

The ageing-active majority. An ageing population of daily wellness users who want energy, health and longevity later in life, with strong ability to pay. Additional SKUs like creatine align perfectly with their needs.

STACK
Expansion 04 · Products

EVERY NEW SKU PLUGS INTO THE SAME SUBSCRIPTION.

Hyro is a daily-routine platform. Electrolytes proved the engine. Creatine is live in a category growing faster than hydration. Longevity, beauty and selected ready-to-drink formats extend the same daily-routine platform.

NowLIVE · 5 FLAVOURS
Hyro electrolyte pouches: Blackcurrant, Watermelon, Lemon Lime

Hyro electrolytes

  • $8.7B global electrolyte powder market, growing ~9% a year to $14B+ by 2030
  • Daily hydration, proven: zero-sugar electrolyte sticks in a growing range of flavours
  • Room to run: new flavours keep expanding the core and the subscriber base
LiveLIVE
Hyro Creatine Raspberry pouch and stick

Hyro electrolytes + creatine

  • $1.4B global creatine category, forecast to grow ~26% a year through 2033
  • Creatine + electrolytes in one daily subscription stack: higher AOV, deeper retention, same CAC
FuturePIPELINE
Hyro ready-to-drink can mockups

Ready-to-drink + beyond

  • $34B global sports drink market, including $1.4B+ in Australia alone
  • Hyro RTD cans: the brand in slim-can form for fridges, gyms and convenience
  • Longevity and beauty formats are prioritised behind the live creatine range
US strategy · The main event

MARKET ENTRY IS LIVE. THE FOUNDER IS ON THE GROUND.

The US store and marketplace channels are live, with fulfilment operating and local manufacturing capacity being secured for scale. Steve relocated on July 28 and is leading the expansion in person.

Already done, already live

DE-RISKED
  • US co-packer engaged: local manufacturing readiness is progressing before scaled volume
  • US 3PL operating: national fulfilment is live, with delivery coverage being optimised
  • Shopify US live: drinkhyro.com carries the full subscription stack
  • Amazon US live: listings are active and the review base is building
  • TikTok Shop live: Hyro is active in the discovery channel that built Bloom and Grüns
  • US agencies engaged: paid media and creator ops are ready to scale with budget
  • Founder relocated July 28: Steve is now leading the US expansion on the ground
$2.8B
US electrolyte powder market, 2024
8.9%
Forecast CAGR, 2025-2030
$4.6B
Projected US market by 2030

Why Hyro wins

  • Differentiated lane: playful performance stands apart from clinical and bro-athlete brands crowding the shelf
  • AU-proven subscription economics: four-month underwritten GP payback and modelled 5.5x month-36 GP LTV:CAC
  • Proven playbook: 75% compound quarterly growth in AU using the exact motions we are exporting
  • Capital-efficient by design: five-person team, $3.8M revenue per FTE, payback discipline beats burn

The exit path is proven

  • Strategics value US traction: Liquid I.V. and Grüns show the value of scaled consumer-health brands; Danone has agreed to acquire Huel
  • Recurring revenue drives multiples: subscription bases trade at premiums to one-time D2C
  • AU scale supports the case: a $19M run-rate subscription engine provides an operating base while the US is built
LOOP
The US GTM playbook

ONE PLAYBOOK. PROVEN IN AU. BUILT FOR THE US AT 10X SCALE.

Three motions feed two compounding loops. Ambassadors light the brand. UGC at scale on TikTok Shop drives discovery. Meta + Amazon close the loop where economics compound.

Blackcurrant Crush x Sarah's Day campaign
01 · IGNITE
Ambassadors light the brand
Sarah's Day · Quade Cooper · DCE · Reuben Garrick · Max Gawn · US athletes incoming
02 · AMPLIFY
TikTok Shop + UGC engine
Brand campaigns build affinity. Thousands of creators will produce organic UGC as the US engine scales. Halo feeds paid creative.
03 · COMPOUND
Meta + Amazon close the loop
Meta drives Shopify subs (LTV). Amazon captures search-led trial. Both feed creative learning.
Loop 01 · LTV engine
MetaShopifySubscription
5.4x GP LTV:CAC at M36 · subscribers carry the brand
Loop 02 · Acquisition engine
TikTok ShopAmazonTrial
UGC at scale · halo feeds Meta creative · cheap reach
Physical activations
Show up hyper-local in the right cultural hotspots. Sampling events, brand collabs and specialty retail drive in-person trial and awareness, and every activation becomes content that feeds the social engine above.
ROUND
Round structure

A curated round for strategic capital.

$3M-$4M
Minimum to maximum round
$18M
Fully diluted pre-money
14.3%-18.2%
Simple primary dilution, pre-ESOP and notes
$1.5M
Confirmed in current round
$2.2M
Capital raised before this round

Entry valuation

  • ~0.95x on the current ~$19M run rate.
  • ~1.09x on current subscription ARR.
  • FY27 detailed model revenue: $31.6M, with $25M+ used as the conservative investor headline.

What we are looking for

  • Category operating experience in functional wellness, beverage or recurring-revenue consumer.
  • US distribution or retail relationships.
  • Creator-led acquisition or athlete equity partnership depth.
  • Strategic acquirer context in the category.
Hyro product range
DEPLOY
Hyro May campaign
Use of funds · $3M-$4M raise

Every dollar has a job before it lands.

This is an execution budget, not a war chest. The majority of the round funds US customer acquisition and inventory, with both the $3M minimum and $4M maximum cases shown below.

US customer acquisition and creators · $1.35M / $1.80M
45%
Inventory and working capital · $0.75M / $1.00M
25%
US team and market operations · $0.45M / $0.60M
15%
Retail and channel development · $0.30M / $0.40M
10%
Product pipeline and contingency · $0.15M / $0.20M
5%
COMPOUND
Post-raise forecast · AU + US split

AU PAYS THE BILLS. THE US PAYS THE MULTIPLE.

Two engines, one P&L. The refreshed base model reaches $31.6M in FY27, above the conservative $25M+ investor headline. Australia compounds while the US carries a deliberate investment window, with monthly US EBITDA turning positive during FY27 and scaling thereafter.

AustraliaProfit engine
Compounding: $21.4M EBITDA on $58.2M revenue by FY29.
United StatesGrowth engine
Invest early, inflect fast: monthly EBITDA positive during FY27, $21.7M on $80.9M revenue by FY29.
ConsolidatedOne P&L
Group scales to $43.1M EBITDA on $139.1M revenue by FY29.
AU revenue US revenue EBITDA
COMPS
Comparables & transactions

High repeat consumer brands are being highly valued. The window is open now.

Strategic acquirers are paying premium multiples for high-repeat consumer-health brands. Hyro enters the round at a material discount to those strategic and growth benchmarks.

Company
Event
Deal
Multiple
This round · 2026 · AU subscription hydration, ~$19M run rate
$3M-$4M @ $18M pre-money
~0.95x rev
Strategic transactions
Acquired by Danone · Jun 2026 · AU health beverage (Cocobella, Rokeby), ~$520M rev
~$2B
~4x rev
Acquired by Pacific Equity Partners · 2022 · AU DTC meal-replacement shakes, ~$100M rev
~$500M
~5x rev
Acquired by Danone · Mar 2026 · Functional meal, ~£254M rev
~$1.2B
~4x rev
Acquired by Unilever · Apr 2026 · $0 → $300M in 24mo
$1.2B
~4x rev
Acquired by Unilever · Jun 2025 · DTC subscription grooming, ~$400M rev
~$1.5B
~4x rev
Acquired by Unilever · 2020 · Now >$2B segment
$500M
~2.5x rev
Growth benchmarks
Growth round · 2022 · on $115M revenue
$1.2B valn
~8x rev
Public scale-up · 2024-25 · In 12 months
~$120M ARR
~3.4x rev
Growth round · 2026 · on $8M revenue
$6M @ $60M
~7.5x rev
Hyro is a rare Australian consumer-health brand combining this scale, subscription density and capital efficiency, in a category attracting premium strategic multiples.
Implied valuationHyro raises at $18M pre-money, just ~0.95x current run rate, well below the strategic and growth benchmarks shown above. At a $100M run rate and a 3x revenue multiple, the implied valuation is ~$300M before future dilution.
SCALE
Path to scale

FROM $19M RUN RATE TODAY TO A $139M GLOBAL DAILY-ROUTINE PLATFORM.

Three years. Three levers compounding: subscription depth, US scale-up, and an AI-first operating layer.

Woman on pilates mat with Hyro
FY27
$31.6M
AU COMPOUNDS. US ENGINE LIVE.
  • US ramp, first year on Meta and TikTok Shop.
  • Dedicated co-packer capacity and direct ingredient procurement.
  • AU national retailer pilot.
FY28
$75.7M
US MATCHES AU. WHOLESALE LAYERED ON.
  • US revenue base at AU scale.
  • Wholesale to 1,000+ stores in AU and US pilot.
  • Third routine SKU sequenced into the lineup.
FY29
$139.1M
MULTI-CHANNEL, MULTI-MARKET PLATFORM.
  • #1 growth hydration brand in the US.
  • Daily routine for hundreds of thousands of households.
  • US and AU national retail distribution. Exit ready.
VISION
The next move

Build the daily ritual for the next generation.

An Australian-born hydration brand with the subscription engine, unit economics and operating velocity to compete globally. The right partner helps us compound from 19,000 subscribers to a million.

Steve Chapman · Founder & CEO · Hyro
Steve and Taylor Chapman with Hyro ambassador investors