Skincare brand Asaya raises Rs 28 crore in pre-series A round led by RPSG Capital

Research-backed skincare brand Asaya has raised Rs 28 crore (around $3 million) in a pre-Series A round led by RPSG Capital. 

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 will be used to build an advanced innovation center, speed up product development, and grow distribution.

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"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. Asaya's targeted approach and proven efficacy make them ideally positioned to capture this shift toward specialized skincare, " said, Abhishek Goenka, Lead Investor, RPSG Capital. "

"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.”

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About Asaya 

Founded in 2021 by Neeraj Biyani, Mandeep Singh Bhatia and Eeti Sharma, Asaya offers serums, creams, face masks, and treatments for issues like hyperpigmentation and uneven skin tone. It sells directly to consumers through its website, quick-commerce apps, and select offline stores, giving it control over pricing and transparency.

The company reports 400% yearly growth, driven by its patented molecule MelaMe™, which shows results in 14 days and has outperformed global brands on Indian skin.

In the next year, Asaya will launch six new products, including one built around another patented molecule developed after 1.5 years of research to tackle a key Indian skin concern.

The brand expects ₹35 crore in net revenue this fiscal and ₹60 crore next year, aiming to break even within two years.

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