Asaya's Latest Funding Round
Asaya, a Bengaluru-based skincare brand focused on products for Indian skin, has successfully raised $10.03 million (Rs 88 crore) in a Series A funding round. The round was led by RPSG Capital, with participation from OTP Ventures, Huddle Ventures, Hyperscale Ventures, and 72 Ventures.
About Asaya
Asaya specializes in delivering clinically formulated skincare solutions tailored for Indian skin, addressing issues such as pigmentation, acne, and sensitivity. The company emphasizes clean, science-led formulas designed to meet the specific needs of melanin-rich skin.
Leadership and Vision
The company is co-founded by Neeraj Biyani, who serves as CEO, alongside Mandeep Singh Bhatia (COO) and Eeti Sharma. Neeraj Biyani commented on the funding round, stating, "This Series A tells us we're on the right path: now variable contribution level profitable and targeting Rs 200 crore in ARR within 18 months."
Use of Funds
A significant portion of the new capital will be directed towards research and development, particularly focusing on Asaya's proprietary MelaMe complex, which is clinically proven to reduce hyperpigmentation in just 14 days. Additional funds will support product line expansion and geographic growth.
Investor Insights
Abhishek Goenka, Managing Partner at RPSG Capital, highlighted the market's need for better scientific solutions rather than marketing gimmicks, noting Asaya's commitment to science and clinical studies.
With this latest funding, Asaya aims to further its mission of providing effective skincare solutions tailored for the Indian market, expanding both its product offerings and market reach.