Asaya, a research-backed skincare brand focused on hyperpigmentation, has raised ₹28 crore in a pre-Series A funding round led by RPSG Capital, a consumer-focused VC.
The round also saw participation from strategic investors, including Suyash Saraf and Anisha Agarwal Saraf, Co-founders of Dot & Key, as well as existing backers OTP Ventures and Huddle Ventures.
The funds raised will be used to establish an 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.
Founded in 2021 by Neeraj Biyani, Anupam Sinha and Ritu Malhotra, Asaya takes a research-first approach that sets it apart from brands using commoditized formulas.
Asaya’s current product line includes serums, creams, face masks, and treatments for hyperpigmentation, uneven skin tone, and related concerns.
The brand has achieved 400% year-over-year growth by addressing hyperpigmentation. Asaya’s proprietary, patented molecule MelaMe delivers clinically proven results in just 14 days, consistently outperforming multi-billion dollar international brands when tested on Indian skin types.
Neeraj Biyani, Co-founder, Asaya, said, “We’re not just another beauty brand entering this crowded market. 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.”
Abhishek Goenka, Lead Investor, RPSG Capital, said, “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.”
Suyash Saraf, Co-founder of Dot & Key and HyperScale Ventures, said, “Asaya’s dedicated research and Indian skin-specific formulations represent exactly the innovation our beauty industry needs. Their remarkable traction with growth rates significantly higher than the industry average, adding thousands of consumers daily, proves that.”
