Asaya, a research-backed skincare brand focused on hyperpigmentation, has raised Rs 28 crore ($3 million) in a pre-Series A funding round led by RPSG Capital, with participation from Suyash Saraf and Anisha Agarwal Saraf (co-founders of Dot & Key), along with existing investors OTP Ventures and Huddle Ventures.
Research-Led Skincare Innovation
Founded by Neeraj Biyani, Anupam Sinha, and Ritu Malhotra, Asaya develops products tackling hyperpigmentation and uneven skin tone key concerns for Indian consumers. Its portfolio spans serums, creams, face masks, and targeted treatments.
At the heart of Asaya’s differentiation is its proprietary patented molecule, MelaMe™, which the company claims shows clinically proven results within 14 days. Internal tests indicate that it has outperformed global beauty brands in addressing pigmentation issues for Indian skin types.
Growth and Expansion Strategy
The brand has reported 400% year-on-year growth, driven by its direct-to-consumer (D2C) distribution model across its website, quick-commerce platforms, and select offline retail stores. This approach enables Asaya to maintain pricing control, ensure transparency, and bring lab-driven solutions directly to customers.
The newly raised funds will be deployed to set up a state-of-the-art innovation center, accelerate product development, and strengthen distribution channels. Over the next 12 months, Asaya plans to launch six new products, including another patented molecule that has been in research for over 18 months.
Market Context
Asaya competes with established multinational giants such as L’Oréal, P&G, and Unilever, as well as digital-first Indian players like Mamaearth, Minimalist, and Dot & Key.
Final Take
With fresh capital and a science-first positioning, Asaya is betting on clinical credibility to carve its niche in India’s fast-growing skincare market.
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