New Delhi, India, September 10, 2025: Direct-to-consumer (D2C) skincare brand Asaya has secured INR 28 Cr (approx. $3 Mn) in its pre-Series A funding round, led by RPSG Capital, with participation from existing investors OTP Ventures, Huddle Ventures, and angel investors including Dot & Key cofounders Suyash Saraf and Anisha Agarwal Saraf. The capital will fuel new product launches and support the establishment of an innovation centre for advanced formulations.
Asaya Skincare Funding
Founded in 2021 by Neeraj Biyani, Mandeep Singh Bhatia, and Eeti Sharma, Asaya focuses on developing science-backed skincare products tailored to Indian skin types. The brand claims to have created patented formulations addressing common concerns such as hyperpigmentation, dehydration, and acne.
Its product portfolio currently includes moisturisers, serums, and creams, available through its own website, major e-commerce platforms like Amazon, Flipkart, and Myntra, and soon on quick commerce channels.
The startup previously raised $1.5 Mn in its seed round from OTP Ventures, Huddle Ventures, and Eternal Capital, marking steady investor confidence in its growth strategy.
Asaya’s Pre-Series A Funding Round
In its latest announcement, Asaya confirmed that it will use the INR 28 Cr capital infusion to set up a dedicated innovation centre and roll out six new skincare products within the next 12 months.
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Key Funding Facts:
The company also reported 400% year-on-year growth, attributing the surge to its targeted solutions for hyperpigmentation, a condition affecting a large segment of Indian consumers.
Asaya in India’s D2C Skincare Market
India’s D2C beauty and personal care sector is projected to reach $28 Bn by 2030, driven by Gen Z and millennial adoption, rising disposable incomes, and a preference for science-led formulations.
Asaya competes with Mamaearth, mCaffeine, WOW Skin Science, Minimalist, and several other well-funded startups. Larger FMCG players are also consolidating their presence:
This competitive environment highlights growing investor appetite for new-age beauty brands with unique formulations and a strong digital-first strategy.
D2C Skincare Growth
According to industry analysts, Asaya’s strong product-market fit and clinical approach are helping it carve out a niche in India’s crowded skincare market.
“The demand for targeted skincare solutions such as hyperpigmentation and hydration products is accelerating. Brands like Asaya, with patented formulas, stand out to investors seeking long-term scalability,” noted a consumer goods analyst tracking D2C funding trends.
Venture capitalists emphasize that innovation centres will be critical for Indian D2C brands to compete not only with domestic rivals but also with international skincare labels entering the Indian market.
Asaya and the Skincare Ecosystem
With fresh funding, Asaya is expected to focus on research-driven product development and distribution expansion. Listing on quick commerce platforms could increase accessibility, aligning with consumer demand for faster delivery in urban markets.
Industry projections suggest that functional skincare, particularly products tackling pigmentation, acne, and hydration, will dominate the next phase of India’s D2C beauty boom. For investors, Asaya’s growth trajectory reinforces the sector’s high-potential returns amid intensifying consolidation and innovation-led competition.
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