Funding · Commerce & Consumer Brands

Asaya secures ₹88 crore in Series A round

By Startup Enthusiast · 24 August 2026

Date: 24 August 2026
Company: Asaya
What it does: Skincare for melanin-rich skin
Kind: Funding
Amount: ₹88 Cr
Stage: Series A
Based in: Bengaluru
Founded: 2021
Sector: Commerce & Consumer Brands

What they do

Asaya is a Bengaluru-based direct-to-consumer brand formulating targeted skincare products for melanin-rich skin to treat hyperpigmentation, acne, and…

What happened

The brand raised ₹88 crore in Series A funding led by RPSG Capital, valuing the business at ₹400 crore post-money

Why it matters

The fresh funds will support research, hiring, catalog additions, and retail expansion across offline stores and fast grocery apps

The details

Asaya raised ₹88 crore in a Series A financing round led by RPSG Capital.
The equity transaction prices the beauty brand at a post-money valuation of ₹400 crore.
The round involved a secondary sale (existing shareholders sell their equity; the company receives none) where initial angels offloaded portions of their shares.
The company runs at an annualized run rate of ₹100 crore in ARR (annual recurring revenue).
Asaya targets reaching ₹200 crore in ARR over the next 18 months.
Around 20% of the fresh capital will back research and development activities.
The rest will go toward adding products, deepening distribution, and recruiting staff.

The bigger picture

The business expanded its top line 16x after closing its preceding investment round.
Domestic spending on beauty and personal care is estimated to expand from $31.19 billion to $48.72 billion by 2034.
The startup already operates with a positive variable contribution margin.

About the business

Asaya makes targeted skincare items for hyperpigmentation, dryness, and breakouts tailored to melanin-rich skin tones.
Its catalog features cleansers, serums, moisturisers, sunscreens, and body formulations targeting uneven tone on underarms, knees, and arms.
The formulations rely on MelaMe, a patent-pending proprietary blend designed to visibly diminish dark patches within two weeks.
It sells directly through its online storefront and on marketplaces including Nykaa, Amazon, Flipkart, Myntra, and Tira.
Fast-delivery platforms including Blinkit, Zepto, Swiggy Instamart, and BigBasket also stock its goods.
Its digital shop delivers to over 18,000 pin codes, offering day-long delivery across more than 2,000 locations.
The brand also retails in the United States and the United Arab Emirates using Amazon.

What happens next

Broaden availability on quick-commerce services and initiate offline retail sales.
Roughly double total headcount across departments in the coming months.
Achieve ₹200 crore in ARR within an 18-month timeframe.

The deal

Type: Series A

Investors

RPSG Capital (lead) — Represented by Abhishek Goenka and Sambit Dash.
OTP Ventures (participated) — Run by Suhail Sameer, Kunal Suri, and Saurabh Vashishtha.
Huddle Ventures (participated) — Represented by Ishaan Khosla and Sanil Sachar.
Hyperscale Ventures (participated) — Firm led by Suyash Saraf and Anisha Saraf.
72 Ventures (participated) — Investment vehicle backed by Sanjay Nayar and Falguni Nayar.

Founders

Neeraj Biyani, Founder
Eeti Sharma, Founder
Mandeep Singh Bhatia, Founder

About Asaya

Product: Skincare formulations targeting hyperpigmentation, dehydration and acne in melanin-rich skin
Customers: Consumers with melanin-rich skin seeking targeted skincare solutions
How it makes money: D2C online sales with offline retail entry
What sets it apart: Dedicated research for melanin-rich skin formulations and hyperpigmentation focus

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