After more than two decades in data, technology and corporate strategy at large multinationals, Eeti Sharma took the entrepreneurial leap when a personal skincare struggle made an industry gap impossible to ignore. At 35, she found herself dealing with adult acne and persistent pigmentation, frustrated that existing solutions did not seem designed for skin like hers. That experience became the starting point for Asaya, a science-first skincare brand built specifically for melanin-rich skin.

From corporate strategy to consumer skincare

Sharma’s corporate career gave her experience in building teams, managing large-scale operations, shaping strategy and using analytics to drive decisions. But the motivation to build Asaya came from a much more personal place. “I chose to solve it through science, not shortcuts,” she says. That meant bringing together expertise across consumer insights, research, product development and brand building to create solutions that could work for millions of others facing similar concerns.

The gap: dedicated science for melanin-rich skin

Asaya was founded in 2021 to address a specific problem: the lack of dedicated science for melanin-rich skin. Hyperpigmentation, acne marks and uneven skin tone are among the most persistent concerns for Indian consumers, yet much of the category continues to rely on generic, one-size-fits-all solutions developed without adequately accounting for the biology of darker skin tones. Instead of adapting existing formulations, Asaya went back to science. The company invested in consumer research, dermatological expertise, formulation research and clinical validation. Two years of research led to the development of its proprietary MelaMe™ Complex, a targeted depigmenting complex clinically evaluated on Indian skin and proven to deliver visible improvement in hyperpigmentation in as little as 14 days. “Our ambition is bigger than building a product portfolio,” Sharma explains. “We want to establish melanin-rich skin as a distinct category of beauty innovation, where dedicated research, proven efficacy and meaningful representation become the standard rather than the exception.”

The meaning behind the name “Asaya”

The name Asaya brings together two meanings that capture the heart of the brand. In Hebrew, Asaya means “created by God,” reflecting the belief that all skin tones are created equal and that there is beauty in every shade from wheatish and liquid gold to deep browns. In Hindi, saya means “shadow,” and Asaya represents stepping out of that shadow. That idea is central to the brand’s mission: bringing overlooked skin needs into focus and giving melanin-rich skin the attention, research and innovation it deserves. For Sharma, Asaya is more than a name; it is a celebration of the diverse spectrum of Indian skin and a commitment to ensuring that no skin tone is ever treated as an afterthought.

Product development: inclusivity built into the science

Asaya puts melanin-rich skin at the centre of product development from the formulation stage itself, rather than adapting products designed around broader or lighter-skin benchmarks. The company began by speaking to 600+ consumers to understand their concerns, experiences and unmet needs, using these insights to identify where existing skincare was falling short. That dialogue continues through an active two-way relationship with a community of 100,000+ followers, alongside direct consumer conversations and ongoing feedback. This helps the brand understand the diversity of melanin-rich skin across concerns, skin types, age groups and environments, and keeps real consumer needs closely connected to product development. These insights are then combined with ingredient and formulation research, dermatological expertise, clinical testing and rigorous quality standards. The result is a portfolio built around high-performance solutions specifically for the diverse spectrum of melanin-rich skin.

Initial investment and capital allocation

The initial investment required to launch Asaya was ₹4.92 crore, deployed with a strong focus on building the foundations of a research-led business.

• Approximately one-third went towards product development, including working with two international R&D labs to develop formulations.
• Around one-fifth was invested in establishing the right manufacturing infrastructure, including identifying and auditing manufacturing partners, securing necessary licences and setting up the operational base.
• Another one-third went towards building the team, both internally and through external partners across functions such as social media and operations.
• The remaining capital was allocated towards marketing and brand building, enabling the company to take products to market and begin building consumer awareness and trust.

How corporate experience shaped Asaya?

Sharma’s background in strategy, offering design and business incubation influenced how she approached Asaya from day one. When she experienced adult acne and persistent pigmentation, her instinct was not simply to look for a better product, but to ask why the problem was so persistent and why existing solutions were not working for skin like hers. “That way of thinking came from more than 20 years at large multinationals, where I learned to question problems deeply, uncover unmet needs and build solutions based on evidence rather than simply following category conventions,” she says. Her corporate experience also gave her the tools to turn that conviction into a business building teams, managing operations, developing strategy, using analytics to make decisions and taking new businesses from concept to execution. Perhaps most importantly, it gave her the perspective that building something meaningful takes time, patience and the rigour to make difficult decisions.

Fundraising journey: milestones, challenges and learnings

Asaya has raised over $4.45 million in Pre-Series A funding. The fundraising journey has been closely tied to milestones that validated both the problem and the approach:

• 600+ consumer interviews to deeply understand the problem and gaps in existing solutions
• First clinical test reports confirming that the approach could deliver better results for hyperpigmentation
• Launch of the first hyperpigmentation product in August 2024
• First patent application filed in early 2025
• Crossing ₹1 crore in monthly net sales by March 2025
• Turning CM2 positive in January 2026

The journey has also come with challenges, particularly in finding the right talent and identifying manufacturing partners who could meet the company’s standards while building long-term, transparent relationships. “Our biggest learning has been the ability to say no,” Sharma says. “Staying true to our mission means asking deeper consumer and product questions rather than taking shortcuts to drive sales, even when growth is slower. We have also learnt not to compromise on product quality or scientific rigour, even when lower scale means lower gross margins.”

Deploying the funding: research, innovation and expansion

At Asaya, the belief is that melanin-rich skin does not need better marketing, it needs better science. The company plans to use the funding to:

• Accelerate its research roadmap, deepening investment in proprietary ingredient and formulation innovation, including the development of its next proprietary active for melanin-rich skin
• Expand clinical research across diverse Indian skin tones, age groups, environmental conditions and underserved body concerns
• Conduct formulation prototyping, stability, efficacy and consumer validation studies
• Strengthen scientific and product development capabilities
• Translate research into credible consumer education and stronger brand presence as it expands across India and into global markets

The ambition is not simply to launch more products, but to build clinically proven solutions that address problems the industry has historically overlooked, while contributing meaningful clinical evidence to the largely under-researched field of melanin-rich skin.

Differentiation in a crowded market

India’s beauty and wellness industry is increasingly competitive, with numerous brands launching serums, actives and targeted solutions. Asaya differentiates itself through a melanin-first, research and evidence-led approach. While the category is largely built around established actives such as tranexamic acid, niacinamide, kojic acid and vitamin C, often using a one-size-fits-all approach, Asaya develops solutions specifically for the biology of melanin-rich skin. At the heart of this is the MelaMe™ Complex, developed to address the pathways behind persistent pigmentation while supporting the skin barrier and enabling long-term use. Its mechanism of action, melanophagy, is designed to visibly reduce existing pigmentation while helping prevent its recurrence. The products are clinically tested on Indian skin, giving consumers evidence of efficacy rather than relying solely on marketing claims. This science is complemented by a deep, ongoing relationship with consumers. The brand has served 15 lakh+ consumers, with strong repeat purchase rates, and built a social community of 120,000+ followers. Sharma regularly speaks directly with consumers to understand their experiences and gather insights that inform products and communication. “Ultimately, we build trust by combining dedicated science, clinically validated efficacy and genuine consumer understanding,” she says.

Long-term vision: defining a new category

Looking ahead, Asaya’s long-term vision is to become the leading skin and body care expert for melanin-rich skin, setting the benchmark for scientific rigour, innovation and proven efficacy in the category. Over the next five years, the company aims to build a ₹800–1,000 crore brand, earning consumer trust through solutions that genuinely work. But the ambition extends beyond revenue. Asaya wants to pioneer and define a new category of skincare, inspire greater industry investment in melanin-rich skin, and take its expertise to underserved consumers globally. “Ultimately, we want melanin-rich skin to never be an afterthought,” Sharma says. “We want Asaya to fundamentally change how the beauty industry understands, researches and serves this consumer worldwide.”

Why Asaya matters?

Asaya represents a broader shift in India’s beauty and wellness industry: from generic, one-size-fits-all formulations to dedicated, science-led solutions designed around specific consumer biology. By focusing on melanin-rich skin, investing in proprietary research and building a brand around clinical evidence and consumer trust, Asaya is attempting to turn an overlooked segment into a distinct category of innovation.

For Eeti Sharma, the legacy she wants to create goes beyond building a successful consumer brand. It is about showing that Indian skincare can lead global conversations on inclusivity, research and efficacy starting with the skin tones that have long been treated as an afterthought.

Interview By : Sejal Thakur