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- Bengaluru-based D2C skincare brand Asaya has raised ₹88 crore ($9.2 million) in a funding round led by RPSG Capital, with participation from OTP Ventures, Huddle Ventures, Hyperscale Ventures, and 72 Ventures at a post-money valuation of ₹400 crore.
- The funding round includes both primary and secondary capital, with some of Asaya’s early angel investors selling part of their holdings.
- The fresh capital will help Asaya strengthen its research and development efforts, expand its product portfolio, widen distribution, and grow its team.
- This is Asaya’s second institutional fundraise in less than a year.
- Asaya was founded in 2021 by Neeraj Biyani, Eeti Sharma, and Mandeep Singh Bhatia.
- In September 2025, Asaya raised ₹28 crore in a pre-Series A round led by RPSG Capital, with participation from OTP Ventures and Huddle Ventures.
- Asaya's product range includes dark spot correcting serums, even tone creams, body sprays, cleansers, and sunscreens.
- The brand follows a D2C model and sells through its own online channels, quick-commerce platforms, and select offline retail outlets.
- Asaya has developed a proprietary molecule called MelaMe designed to address pigmentation and uneven skin tone, particularly for Indian skin types.
Bengaluru-based D2C skincare brand Asaya has raised Rs 88 crore ($9.2 million) in a funding round led by RPSG Capital, with participation from OTP Ventures, Huddle Ventures, Hyperscale Ventures, and 72 Ventures.1
The round values the company at a post-money valuation of Rs 400 crore.
The funding includes both primary and secondary capital, with some early angel investors selling part of their holdings.2
Asaya plans to use the fresh capital to strengthen its research and development efforts, expand its product portfolio, widen distribution, and grow its team.3
This marks Asaya's second institutional fundraise in less than a year, following a Rs 28 crore pre-Series A round in September 2022, also led by RPSG Capital.4
Founded in 2021 by Neeraj Biyani, Eeti Sharma, and Mandeep Singh Bhatia, Asaya focuses on skincare products addressing issues like hyperpigmentation, dehydration, and acne.
Its product range includes dark spot-correcting serums, even-tone creams, body sprays, cleansers, and sunscreens.
The brand operates on a D2C model, selling through its own online channels, quick-commerce platforms, and select offline retail outlets.8
A key innovation is MelaMe, a proprietary molecule designed to tackle pigmentation and uneven skin tone, particularly for Indian skin types.
“The funding round includes primary and secondary capital, with some early angel investors selling their stakes. Asaya, founded in 2021, plans to use the proceeds for R&D, product expansion, distribution and hiring, and has developed a proprietary molecule called MelaMe for pigmentation issues.”
