Skincare startup Asaya recently secured ₹28 crore (about $3 million) in a pre-Series A funding round, led by RPSG Capital, giving a boost to India’s growing direct-to-consumer (D2C) market. Dot & Key’s co-founders, Suyash Saraf and Anisha Agarwal Saraf, along with existing investors OTP Ventures and Huddle Ventures, also participated. This investment marks another step forward in D2C funding, as investors keep supporting inventive, science-led D2C brands in India.
Founded by Neeraj Biyani, Anupam Sinha, and Ritu Malhotra, Asaya has found its place in the competitive D2C beauty and skincare market by concentrating on hyperpigmentation and skin health, all supported by research. Their product line now features serums, creams, face masks, and treatments for uneven skin tone and related issues. With this new funding, the company plans to open an innovation center, speed up product , and strengthen its distribution—a development closely watched in the D2C world..
Asaya uses a direct-to-consumer model, making products available on its website, quick commerce platforms, and some retail stores. This approach keeps pricing clear and brings science-backed skincare directly to consumers who are looking for research-based brands.
Asaya stands out because of its patented molecule, MelaMe™, a breakthrough that delivers results in just 14 days. The brand says this formulation has consistently outperformed global beauty brands when tested on Indian skin. This helps new D2C personal care brands gain an advantage in a market dominated by giants like L’Oréal, P&G, and Unilever.
The company reports a 400% year-on-year D2C revenue increase, proving how the fastest-growing D2C brands in India are using innovation and consumer understanding to their advantage. In the next year, Asaya will launch six new products, including another patented molecule that has been in works for 1.5 years. This fits with product launches in India’s beauty sector and shows how the D2C business in India is growing into a space driven by research and , not just marketing.
The brand faces competition from digital-first names like Mamaearth, Minimalist, and Dot & Key. Still, with its science-first approach and support from investors, Asaya is becoming one of the startups to watch in 2025.
This funding round shows how VC-backed D2C brands in India are aiming for long-term category leadership instead of just quick wins. For investors following the D2C industry, Asaya’s growth shows a shift in consumer behavior, where Indian buyers want authenticity, effectiveness, and transparency from premium D2C brands.
Asaya wants to create skincare solutions for Indian consumers and become one of the best-performing D2C brands . With funding, innovations, and plans for growth, the brand is set to shape the future of direct-to-consumer in the beauty and skincare market.
