Homegrown, science-driven skincare brand Asaya has raised ₹28 crore in a pre-Series A funding round led by RPSG Capital, one of India’s largest consumer-focused venture capital firms. The round also saw participation from strategic investors Suyash Saraf and Anisha Agarwal Saraf, Co-founders of Dot & Key, along with existing backers OTP Ventures and Huddle Ventures.
The brand, founded by three FMCG and consumer industry veterans with over 23 years of experience each, has recorded 400% year-on-year growth by focusing on hyperpigmentation—a major skin concern among Indian consumers that remains underserved in mainstream launches.
At the core of Asaya’s offerings is its proprietary, patented molecule MelaMe™, which the company says delivers clinically proven results in just 14 days, outperforming multi-billion-dollar global brands when tested on Indian skin types.
“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,” added Abhishek Goenka, Lead Investor, RPSG Capital. “Asaya’s targeted approach and proven efficacy make them ideally positioned to capture this shift toward specialized skincare.”
The funding will establish a state-of-the-art innovation center, accelerating product development. The brand plans to launch six innovative product solutions over the next 12 months, including a product line featuring another patented molecule targeting a major Indian skin concern – the result of 1.5 years of dedicated research.
“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.”
Existing investors guiding Asaya include OTP Ventures, founded by Suhail Sameer (the first investor in Mamaearth), and Huddle Ventures, known for backing Blue Tokai and Bold Care. The company is set to soon expand across quick-commerce platforms while scaling operations and delivery speed nationwide.
About Asaya
Founded with a mission to solve India’s most pressing skincare concerns through scientific innovation, Asaya has rapidly established itself as a leader in the hyperpigmentation category. The brand’s research-first approach has yielded patented formulations that deliver clinically proven results tailored specifically to Indian skin types. With a focus on transparency, efficacy, and consumer education, Asaya continues to set new standards in the Indian beauty industry.
The company’s commitment to research and development, combined with its impressive repeat purchase rates and viral product success, positions it as a formidable player in India’s evolving beauty landscape.
