Asaya, a skincare brand, has successfully raised $1.5 million in seed funding.

Asaya, a skincare brand dedicated to melanin-rich skin, has secured Rs 12 crore ($1.5 million) in seed funding led by OTP Ventures and Huddle Ventures, with additional support from Eternal Capital. The funding will be used to enhance melanin-centric research, develop new products, and expand market presence, thereby raising awareness of skincare needs specific to melanin-rich skin and improving product availability across various platforms.

Founded in September 2023 by Neeraj Biyani (former Co-founder of Paper Boat), Mandeep Bhatia, and Eeti Sharma, Asaya has rapidly increased its sales and customer base. The brand retails through its website and platforms such as Nykaa, Amazon, Flipkart, and Myntra, offering more than 11 products and 23 SKUs.

"Our products have received an overwhelmingly positive response, indicating a strong product-market fit. This funding will help us grow our consumer base from 20,000 to over 250,000 in the next 12 months," said Neeraj Biyani, Co-founder of Asaya. "We plan to improve our communication efforts and service capabilities to better support our expanding customer base."

Sanil Sachar, Founding Partner of Huddle Ventures, stated, "Consumers today are vocal about their preferences, and there are not enough products for melanin-rich skin. Asaya is bridging this gap with robust products and meaningful conversations. The experienced team behind Asaya’s mission to create inclusive skincare for Indian skin tones is what drove us to back them."

Eeti Sharma, Co-Founder of Asaya, added, "Skincare has historically been developed for lighter skin tones in western markets, falling short in addressing the needs of darker skin tones. In India, 98% of the population has melanin-rich skin, and our needs are different."

Suhail Sameer of OTP Ventures noted, "In a beauty industry dominated by celebrity-backed brands, Asaya continues to invest in creating products tailored for Indian consumers. The brand listens to consumer concerns and develops melanin-first solutions, especially for issues like acne, hyperpigmentation, and dry skin."