Asaya | $9.1M (Series A)

Founders: @Neeraj Biyani, Eeti Sharma Mandeep Bhatia

Founded: 2021

HQ: Bengaluru

Sector: D2C Skincare / BeautyTech

What they do

→ Science-first skincare brand built for melanin-rich skin, focused on hyperpigmentation

→ Developed MelaMe, a proprietary patent-pending complex clinically proven to reduce pigmentation in 14 days

→ Portfolio spans cleansers, serums, spot treatments, moisturisers, sunscreens and targeted body-area products

→ Sells via Nykaa, Amazon, Flipkart, Myntra, Tira, Purplle, Blinkit, Zepto, Swiggy and BigBasket

The Funding

→ Raised $9.1M (₹88 Cr)

→ Series A backed entirely by existing investors: RPSG Capital Ventures, OTP Ventures, Huddle Ventures, Hyperscale Ventures, 72 Ventures

→ Values Asaya at ~$41.8M (₹400 Cr) a 3x jump from its previous round

→ Follows a $3M pre-Series A round led by RPSG Capital in September 2025

Why it matters

→ Revenue reportedly grew 16x since the last round, now at a ₹100 Cr ARR run rate

→ Targeting ₹200 Cr ARR within 18 months

→ 20% of new capital earmarked for R&D, rest for product and distribution expansion

→ Signals growing investor appetite for science-backed, ingredient-led skincare in India

Can a niche skincare focus like hyperpigmentation scale into a mass consumer brand?