Research-backed skincare brand Asaya raises Rs 28 crore to establish state-of-the-art innovation center

Asaya, a science-driven skincare brand revolutionising hyperpigmentation solutions, today said it has raised Rs 28 crore in a pre-Series A funding round led by RPSG Capital, a consumer-focused VC.

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Strategic investors include Suyash Saraf and Anisha Agarwal Saraf, Co-founders of Dot & Key, as well as existing backers OTP Ventures and Huddle Ventures.

Asaya claims to have achieved 400% year-over-year growth by addressing hyperpigmentation, a concern that the startup says has been overlooked in mainstream product launches.

The startup further claimed its proprietary, patented molecule MelaMe delivers clinically proven results in a span of 14 days, consistently outperforming multi-billion dollar international 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."

Asaya plans to use the raised funding to establish a state-of-the-art innovation center, accelerating product development, and launch six innovative product solutions over the next 12 months, including a product line featuring another patented molecule targeting a major Indian skin concern. 

"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.”