Research-backed skincare brand Asaya has successfully raised Rs 28 crore funding in a pre-Series A round, further strengthening its mission to solve India’s most pressing skin concerns. The round was led by RPSG Capital, one of India’s leading consumer-focused venture capital firms, alongside participation from strategic investors Suyash Saraf and Anisha Agarwal Saraf, the co-founders of Dot & Key. Existing backers OTP Ventures and Huddle Ventures also renewed their confidence in the brand.
This fresh capital will allow Asaya to scale innovation, accelerate product launches, and strengthen nationwide distribution. The funding underscores the market’s growing appetite for science-driven skincare solutions designed specifically for Indian consumers.
Hyperpigmentation Gap
What makes Asaya unique is its sharp focus on hyperpigmentation, one of the most widespread but under-addressed skin concerns in India. While international beauty giants have dominated the Indian skincare space, few have created formulations tailored to the country’s diverse skin types.
Asaya’s breakthrough comes in the form of MelaMe™, a proprietary patented molecule clinically proven to reduce hyperpigmentation in just 14 days. Tested extensively on Indian skin, MelaMe™ has consistently delivered better results than leading global brands, giving Asaya a distinct edge.
Founders with FMCG Legacy
The brand was founded by three consumer goods experts, each with over 23 years of industry experience. Their vision was clear: build a skincare company that doesn’t rely on generic formulas but one that is rooted in research and science.
Co-founder Neeraj Biyani explained, “We’re not another beauty label entering a crowded marketplace. We are solving one of India’s most neglected skincare concerns with clinically proven innovation. Our MelaMe™ molecule and clinical validation make all the difference.”
Rapid Consumer Adoption
Asaya has witnessed remarkable traction with 400% year-on-year growth and a 5x jump in revenue over the last 12 months. Consumers are responding positively to its transparency-first approach, where every claim is backed by research, testing, and third-party validation.
Abhishek Goenka, Lead Investor at RPSG Capital, highlighted, “Indian consumers are demanding science-backed, tailored solutions. Asaya’s success demonstrates a powerful shift away from one-size-fits-all products towards specialized skincare innovation.”
Future Plans and Research
The company is gearing up to launch six new skincare products within the next 12 months, including another line built on a second patented molecule that addresses another major Indian skin issue. This molecule is the outcome of 1.5 years of intensive research, further emphasizing Asaya’s research-first model.
The brand also plans to establish a state-of-the-art innovation center, enabling faster product development and deeper clinical studies. Parallelly, Asaya is working to scale its presence across quick-commerce platforms while ensuring faster delivery to consumers nationwide.
Strong Investor Backing
The brand enjoys support from some of the most trusted names in the consumer and venture space. OTP Ventures, co-founded by Suhail Sameer (first investor in Mamaearth), and Huddle Ventures, known for backing brands like Blue Tokai and Bold Care, continue to play a key role in guiding Asaya.
Dot & Key’s co-founder Suyash Saraf praised Asaya’s momentum: “Their traction is extraordinary. With growth far outpacing industry averages and thousands of new customers every day, Asaya represents the future of Indian skincare.”
Skincare Brands in India
India’s skincare market is evolving at breakneck speed, with homegrown players like Mamaearth, Dot & Key, Minimalist, and Plum creating strong identities. However, many rely on generic formulations, leaving critical skin issues like hyperpigmentation, melasma, and uneven tone under-served.
This is where Asaya sets itself apart. By creating patented, clinically tested molecules specifically designed for Indian skin, it positions itself not only as another skincare brand but as a scientific innovation-led company. Asaya’s research-backed approach could very well place it in the same league as international heavyweights while staying deeply rooted in Indian consumer needs.
With its Rs 28 crore funding boost, Asaya is ready to double down on innovation, expand its product pipeline, and strengthen its distribution network. Its bold approach to solving hyperpigmentation and its commitment to science-first formulations signal a major shift in India’s beauty market.
