Asaya raises $3 Mn in pre-Series A round led by RPSG Capital

Asaya, a research-backed skincare brand focused on hyperpigmentation, has raised Rs 28 crore (around $3 million) in a pre-Series A round led by RPSG Capital. 

Other investors include Suyash Saraf and Anisha Agarwal Saraf, co-founders of Dot & Key, alongside existing backers OTP Ventures and Huddle Ventures.

The proceeds will be used to set up a state-of-the-art innovation center, accelerate product development, and expand distribution. 

Founded by Neeraj Biyani, Anupam Sinha and Ritu Malhotra, Asaya’s current product line includes serums, creams, face masks, and treatments for hyperpigmentation, uneven skin tone, and related concerns. 

The firm follows a direct-to-consumer (D2C) model, selling via its own online channels, quick-commerce platforms, and select offline retail. This approach allows it to control pricing, maintain transparency, and bring research-driven solutions directly to consumers.

Asaya claims to have grown 400% year-on-year, driven by its proprietary patented molecule MelaMe™, which delivers clinically proven results in 14 days and has consistently outperformed global beauty brands in tests on Indian skin types.

Asaya plans to launch six new products in the next 12 months, including a line featuring another patented molecule targeting a major Indian skin concern after 1.5 years of research.

Asaya competes with both multinational giants like L’Oréal, P&G, and Unilever and homegrown digital-first brands such as Mamaearth, Minimalist, and Dot & Key.