Asaya, a science-backed skincare brand focused on hyperpigmentation solutions, has raised Rs 28 crore in a pre-Series A funding round led by RPSG Capital, with participation from strategic investors including Suyash Saraf and Anisha Agarwal Saraf, co-founders of Dot & Key, alongside existing backers OTP Ventures and Huddle Ventures.
Founded by Eeti Sharma, Mandeep Singh Bhatia, and Neeraj Biyani, Asaya has positioned itself as a research-first brand in a sector often dominated by marketing-led launches. The company claims it has grown revenues 5x in the past year, achieving nearly 400 percent year-on-year growth. Central to its success is its proprietary molecule, MelaMe, which the company says delivers visible results on hyperpigmentation within 14 days and has consistently outperformed global multibillion-dollar skincare brands when tested on Indian skin.
“We are solving one of India’s most common but overlooked skincare challenges with research designed specifically for Indian consumers,” said co-founder Neeraj Biyani.
The company plans to deploy the fresh funds to establish a state-of-the-art innovation center that will serve as its research and product development hub. Over the next 12 months, Asaya intends to introduce six new products, including another patented formulation addressing a prevalent skin concern among Indian users.
Investors believe the company’s sharp focus gives it a strong edge in a crowded market. “Indian consumers are moving away from generic, one-size-fits-all beauty products. Asaya’s clinical efficacy and targeted solutions make it a brand built for the next decade,” said Abhishek Goenka, Lead Investor at RPSG Capital.
Industry voices echo the optimism. “Asaya’s rapid traction, with thousands of new customers joining daily, reflects the growing appetite for homegrown, research-driven beauty,” said Suyash Saraf of Dot & Key.
