The raised funds will be utilised for research and development of products that cater to melanin-specific needs
New Delhi: Premium skincare brand Asaya has raised Rs. 12 crore ($1.5 million) in seed funding, the company announced in a press release on Thursday.
The funding round was led by OTP Ventures and Huddle Ventures along with Eternal Capital, the release added.
The raised funds will be utilised for research and development of products that cater to melanin-specific needs, enhance market reach, increase market knowledge on different melanin skin requirements, and increase product availability across various marketplaces and pin codes.
“Our products have received an overwhelmingly positive response, indicating strong product-market fit for many items in our lineup. This funding will help us go from 20,000 to over 250,000 consumers in the next 12 months,” said Neeraj Biyani, co-founder, Asaya.
“We plan to significantly enhance our communication efforts and service capabilities to provide faster and more informed service to our rapidly growing customer base,” Biyani added further.
Founded in September 2023 by Neeraj Biyani, Mandeep Bhatia, and Eeti Sharma, Aaya offers products like face cleansers, moisturisers, serums, sunscreen, shower oil, hand cream concerning various skin types like oily, normal, dry, combination, sensitive, according to its official website. The brand retails through its website and online retail platforms like Nykaa, Amazon, Flipkart, Myntra, etc. It offers 23 SKUs.
