Asaya, a skincare brand focused on tackling hyperpigmentation with research-driven formulations, has raised ₹28 crore (~$3 million) in a pre-Series A round led by RPSG Capital. The round also saw participation from Suyash Saraf and Anisha Agarwal Saraf (co-founders of Dot & Key), alongside existing investors OTP Ventures and Huddle Ventures.
The fresh funds will be deployed to establish a state-of-the-art innovation center, accelerate product development, and expand distribution channels.
Founded by Neeraj Biyani, Anupam Sinha, and Ritu Malhotra, Asaya currently offers serums, creams, masks, and targeted treatments designed for hyperpigmentation and uneven skin tone. Operating on a direct-to-consumer (D2C) model, the brand sells through its website, quick-commerce platforms, and select offline stores—ensuring control over pricing, transparency, and customer engagement.
Asaya credits much of its growth to its proprietary patented molecule, MelaMe™, which has shown clinically proven results within 14 days, outperforming global beauty brands in trials on Indian skin types. The company reported 400% year-on-year growth and is planning to launch six new products over the next year, including a line featuring another patented molecule developed after 1.5 years of research.
In the competitive beauty landscape, Asaya positions itself against both global giants like L’Oréal, P&G, and Unilever as well as Indian digital-first players including Mamaearth, Minimalist, and Dot & Key.
By: Arushi Agarwal
