D2C skincare brand Asaya raises Rs 88 Cr from RPSG Capital, OTP Ventures, others

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Direct-to-consumer (D2C) skincare brand Asaya has raised Rs 88 crore ($9.2 million) in a funding round from RPSG Capital, OTP Ventures, Huddle Ventures, Hyperscale Ventures and 72 Ventures at a post-money valuation of Rs 400 crore.
The round comprised primary and secondary capital, with some early angel investors selling their stakes.
The Bengaluru-based startup had previously raised Rs 28 crore in a pre-Series A round led by RPSG Capital, with participation from existing investors OTP Ventures and Huddle Ventures, as well as angel investors Suyash Saraf and Anisha Agarwal Saraf, in September last year.
The proceeds will be used for research and development, product expansion, distribution and hiring, Asaya said in a press release.
Founded in 2021 by Neeraj Biyani, Eeti Sharma and Mandeep Singh Bhatia, Asaya offers skincare products targeting hyperpigmentation, dehydration and acne. Its portfolio includes dark spot correcting serums, even tone creams, body sprays, cleansers and sunscreens.
The brand follows a D2C model and sells through its own online channels, quick-commerce platforms and select offline retail outlets.
Asaya has developed a proprietary molecule called MelaMe, which it says is designed to address pigmentation and uneven skin tone, particularly for Indian skin types.
The Indian D2C skincare segment has seen growing investor interest, with brands focusing on science-backed, ingredient-led and premium skincare products.
RAS Luxury Skincare secured a Rs 60 crore investment from Dabur in March 2026, while Chosen raised $5 million in a Series A round led by Fireside Ventures in May. KorinMi raised Rs 10 crore from Lotus Herbals' innovation fund in June, while functional skincare startup Clarity Labs secured over Rs 4 crore in seed funding.
Earlier funding activity has also included skincare and personal-care brands such as Innovist, which owns Chemist at Play, and Pilgrim.

document fetched 2026-08-24 06:56