Asaya, a research-backed skincare brand, has raised INR 28 crore (about US$3 million) in a pre-Series A funding round led by RPSG Capital.
The round also saw participation from Suyash Saraf and Anisha Agarwal Saraf (co-founders of Dot & Key), along with existing investors OTP Ventures and Huddle Ventures.
The new funds will be used to set up an advanced innovation center, develop products faster, and expand distribution.
“We’re not just another beauty brand entering this crowded market,” said Neeraj Biyani, Co-founder, Asaya. “We’re addressing one of India’s most prevalent unsolved skincare concerns through breakthrough research and formulations created specifically for Indian skin. It is our patented MelaMe complex and clinical results that set us apart.”
“Asaya’s 5x revenue growth in the last 12 months proves Indian consumers are ready for science-backed solutions tailored to their specific needs rather than one-size-fits-all solutions. Asaya’s targeted approach and proven efficacy make them ideally positioned to capture this shift toward specialized skincare, ” said Abhishek Goenka, Lead Investor, RPSG Capital. “
“Asaya’s dedicated research and Indian skin-specific formulations represent exactly the innovation our beauty industry needs,” said Suyash Saraf, Co-founder of Dot & Key and HyperScale Ventures. “Their remarkable traction with growth rates significantly higher than the industry average, adding thousands of consumers daily, proves that.”
Asaya was founded in 2021 by Neeraj Biyani, Mandeep Singh Bhatia, and Eeti Sharma. The brand offers a range of skincare products like serums, creams, face masks, and treatments for concerns such as hyperpigmentation and uneven skin tone.
The company sells its products directly to customers through its website, quick-commerce apps, and select offline stores. This approach helps Asaya maintain better control over pricing and transparency.
The company has reported 400% yearly growth, powered by its patented molecule MelaMe™, which delivers visible results in just 14 days and has performed better than global brands on Indian skin.
In the coming year, Asaya plans to launch six new products, including one that uses another patented molecule created after 1.5 years of research to address a major Indian skin concern.
The brand expects to make INR 35 crore in net revenue this year and INR 60 crore next year, to break even within two years.
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