One of India’s Largest Consumer Fund – RPSG Capital Leads The Round, With Strategic Backing From Dot & Key Founders For A Brand Growing Over 400% Year-On-Year
Asaya, India’s science-driven skincare brand revolutionizing hyperpigmentation solutions, announced its Rs. 28 crore pre-Series A funding round. RPSG Capital, one of India’s largest consumer-focused VCs, led the investment. Strategic investors include Suyash Saraf and Anisha Agarwal Saraf, Co-founders of Dot & Key, as well as existing backers OTP Ventures and Huddle Ventures.
The brand has achieved 400% year-over-year growth by addressing hyperpigmentation – a concern affecting millions of Indian consumers, but one that has been overlooked in mainstream product launches. Asaya’s proprietary, patented molecule MelaMe™ delivers clinically proven results in just 14 days, consistently outperforming multi-billion dollar international brands when tested on Indian skin types.
Founded by three FMCG and Consumer experts, each with over 23 years of experience, Asaya takes a research-first approach that sets it apart from brands using commoditized formulas. “We’re not just another beauty brand entering this crowded market,” said Neeraj Biyani, Co-founder, Asaya. “We’re addressing one of India’s most prevalent unsolved skincare concerns through breakthrough research and formulations created specifically for Indian skin. It is our patented MelaMe™ complex and clinical results that set us apart.”
“Asaya’s 5x revenue growth in the last 12 months proves Indian consumers are ready for science-backed solutions tailored to their specific needs rather than one-size-fits-all solutions,” added Abhishek Goenka, Lead Investor, RPSG Capital. “Asaya’s targeted approach and proven efficacy make them ideally positioned to capture this shift toward specialized skincare.”
The funding will establish a state-of-the-art innovation center, accelerating product development. The brand plans to launch six innovative product solutions over the next 12 months, including a product line featuring another patented molecule targeting a major Indian skin concern – the result of 1.5 years of dedicated research.
“Asaya’s dedicated research and Indian skin-specific formulations represent exactly the innovation our beauty industry needs,” said Suyash Saraf, Co-founder of Dot & Key and HyperScale Ventures. “Their remarkable traction with growth rates significantly higher than the industry average, adding thousands of consumers daily, proves that.”
Existing investors guiding Asaya include OTP Ventures, founded by Suhail Sameer (the first investor in Mamaearth), and Huddle Ventures, known for backing Blue Tokai and Bold Care. The company is set to soon expand across quick-commerce platforms while scaling operations and delivery speed nationwide.
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