Key Takeaways:
- Indian D2C skincare brand Asaya has raised Rs 88 crore ($9.2 million).
- The funding includes both primary and secondary capital.
- This is Asaya’s second institutional fundraise in less than a year.
The Bengaluru-based startup raised a Series A funding round.
WHO: Founded in 2021 by Neeraj Biyani, Mandeep Bhatia, and Eeti Sharma, Asaya is a skincare brand specializing in products for melanin-rich skin. Products target hyperpigmentation, dehydration, and acne. Its portfolio includes dark spot–correcting serums, even-tone creams, body sprays, cleansers, and sunscreens. Asaya has developed a proprietary molecule called MelaMe, which it says is designed to address pigmentation and uneven skin tone, particularly for Indian skin types.
Products are sold through the brand's website and online retail platforms such as Nykaa, Amazon, Flipkart, and Myntra.
WHY: The proceeds will fund research and development, product expansion, distribution, and hiring.
DETAILS:
- Asaya raised Rs 88 crore ($9.2 million) in a Series A funding round led by RPSG Capital with participation from OTP Ventures, Huddle Ventures, Hyperscale Ventures, and 72 Ventures at a post-money valuation of Rs 400 crore ($41.9 million).
- The round comprised primary and secondary capital, with some early angel investors selling their stakes.
- In 2025, Asaya raised Rs 28 crore ($2.9 million) in a pre-Series A round led by RPSG Capital, with participation from existing investors OTP Ventures and Huddle Ventures, as well as angel investors Suyash Saraf and Anisha Agarwal Saraf.
- In 2024, Asaya raised $1.5 million (Rs 12 crore) in a seed funding round led by OTP Ventures and Huddle Ventures with participation by Eternal...
