Asaya, a science-led skincare startup focused on hyperpigmentation solutions, announced that it has raised ₹28 crore in a pre-Series A funding round led by consumer-focused venture capital firm RPSG Capital.
The round also saw participation from strategic investors Suyash Saraf and Anisha Agarwal Saraf, co-founders of Dot & Key, along with existing investors OTP Ventures and Huddle Ventures.
The company reported 400% year-over-year growth, attributing its success to tackling hyperpigmentation — a skin concern it says has largely been neglected in mainstream product development.
Asaya also highlighted its patented molecule, MelaMe, which it claims delivers visible, clinically proven results within 14 days and consistently outperforms leading global brands when tested on Indian skin types.
“We’re not just another beauty brand entering this crowded market,” said Neeraj Biyani, co-founder of 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,” added Abhishek Goenka, Lead Investor, RPSG Capital. “Asaya’s targeted approach and proven efficacy make them ideally positioned to capture this shift toward specialized skincare.”
Asaya intends to deploy the fresh capital to set up a cutting-edge innovation center, speed up product development, and roll out six new solutions over the next year. The upcoming launches will also include a product line built around another patented molecule designed to address a significant skin concern prevalent in India.
“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.”
