Asaya Raises ₹88 Cr to Scale Science-Backed Skincare

D2C skincare brand Asaya has raised ₹88 crore, or about $9.2 million, in a fresh funding round from RPSG Capital, OTP Ventures, Huddle Ventures, Hyperscale Ventures and 72 Ventures. The round values the Bengaluru-based startup at around ₹400 crore post-money and includes a mix of primary and secondary capital, with some early angel investors selling their stakes.

The company plans to use the fresh capital to strengthen research and development, expand its product portfolio, widen distribution and build its team. The fundraise comes less than a year after Asaya raised ₹28 crore in a pre-Series A round led by RPSG Capital, with OTP Ventures and Huddle Ventures also participating.

Founded in 2021 by Neeraj Biyani, Eeti Sharma and Mandeep Singh Bhatia, Asaya focuses on skincare concerns such as hyperpigmentation, dehydration and acne. Its portfolio includes dark spot serums, even-tone creams, cleansers, sunscreens and body sprays, with products sold through its own website, quick-commerce platforms and select offline stores.

A key part of Asaya’s positioning is its focus on ingredient-led skincare designed for Indian consumers. The company has developed a proprietary molecule called MelaMe, which it says targets pigmentation and uneven skin tone, particularly for Indian skin types. This science-backed approach places Asaya within a growing group of homegrown beauty brands trying to differentiate beyond packaging and influencer-led marketing.

The broader skincare category has also attracted steady investor interest, with brands such as RAS Luxury Skincare, Chosen, KorinMi and Clarity Labs raising capital this year. For Asaya, the new round provides room to invest more deeply in product development while expanding its reach across online and offline channels — a combination that could become increasingly important as competition in India’s premium skincare market intensifies.