Research-led Skincare Startup Asaya Raises ₹28 Crore in Pre-Series A RoundRPSG Capital Leads Investment; Dot & Key Founders Join as Strategic Backers

Science-first skincare label Asaya has secured ₹28 crore in a pre-Series A funding round, with consumer-focused venture capital firm RPSG Capital taking the lead. The round also saw participation from Dot & Key co-founders, Suyash Saraf and Anisha Agarwal Saraf, alongside existing investors OTP Ventures and Huddle Ventures.

Positioning itself as a problem-solver for Indian consumers dealing with hyperpigmentation, Asaya has recorded 400% year-on-year growth. The company’s edge lies in its patented MelaMe™ molecule, which has shown clinically proven improvements in just 14 days, outperforming established global players when tested on Indian skin.

Founded by industry veterans with over two decades of FMCG and consumer expertise each, Asaya has taken a research-driven route to skincare. “Our mission is not to be just another brand in a crowded space, but to solve a major unmet need in the Indian market,” said Neeraj Biyani, Co-founder of Asaya. “The strength of our patented formulations, combined with targeted research for Indian skin, sets us apart.”

The funding will be channelled into establishing an innovation centre to drive new product development. The brand is preparing to launch six new products in the coming year, including one powered by another patented molecule focused on a major Indian skin concern, backed by over 18 months of dedicated R&D.

Backing the startup’s momentum, Abhishek Goenka, Lead Investor at RPSG Capital, noted: “With 5x revenue growth over the past year, Asaya reflects the growing demand for solutions backed by science and tailored for Indian consumers. Their focused approach positions them as a key disruptor in the skincare market.”

Echoing this view, Suyash Saraf, Co-founder of Dot & Key and HyperScale Ventures, added: “Asaya’s growth trajectory is far ahead of the industry curve. Their ability to attract thousands of new customers daily highlights the scale of consumer trust in their solutions.”

The brand, already a repeat-purchase favourite, is looking to expand across quick-commerce channels while strengthening delivery operations nationwide.

To mark the announcement, Asaya released an OTT-style video on LinkedIn, highlighting the journey and support from its investors. Watch the video here.

About Asaya
Asaya was founded to address India’s most pressing skin concerns through scientific innovation and transparency. By prioritizing research, clinical testing, and patented formulations, the brand has emerged as a leading name in the hyperpigmentation category. With strong consumer adoption, repeat purchases, and a focus on Indian skin-specific needs, Asaya is shaping the future of evidence-based skincare in India.