Asaya Raises INR 88 Crore in Series A at INR 400 Cr
Asaya raises INR 88 crore in Series A funding at a INR 400 crore valuation, with plans to expand products, R&D, geographies and channels.
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Skincare brand Asaya has raised INR 88 crore in a Series A funding round at a valuation of INR 400 crore, three times its previous valuation.
The round saw participation from RPSG Capital, OTP Ventures, Huddle Ventures, Hyperscale Ventures and 72 Ventures.
Asaya said it has recorded 16x revenue growth and is operating at a INR 100 crore annual recurring revenue (ARR) run rate. The company plans to use the funding for research and development (R&D), product expansion and growth across geographies and channels.
Neeraj Biyani, Co-founder, Asaya, said, “We’ll be directing almost a fifth of the funding towards R&D, with the rest split across product-line expansion and geographic and channel growth.”
Founded by Neeraj Biyani, Eeti Sharma and Mandeep Bhatia, Asaya focuses on skincare products for melanin-rich skin. Its portfolio includes cleansers, serums, spot treatments, moisturizers and sunscreens.
The company is expanding into quick-commerce channels and plans to explore offline retail partnerships. Its website now serves more than 18,000 PIN codes, with over 2,000 PIN codes eligible for delivery within 24 hours.
Asaya said its customer base has grown ninefold since its previous funding round, while its social media following has increased eightfold. It is also planning to nearly double its team in the coming months.
The company is targeting INR 200 crore in ARR within the next 18 months.
Skincare brand Asaya has raised INR 88 crore in a Series A funding round at a valuation of INR 400 crore, three times its previous valuation.
The round saw participation from RPSG Capital, OTP Ventures, Huddle Ventures, Hyperscale Ventures and 72 Ventures.
Asaya said it has recorded 16x revenue growth and is operating at a INR 100 crore annual recurring revenue (ARR) run rate. The company plans to use the funding for research and development (R&D), product expansion and growth across geographies and channels.
Neeraj Biyani, Co-founder, Asaya, said, “We’ll be directing almost a fifth of the funding towards R&D, with the rest split across product-line expansion and geographic and channel growth.”
Founded by Neeraj Biyani, Eeti Sharma and Mandeep Bhatia, Asaya focuses on skincare products for melanin-rich skin. Its portfolio includes cleansers, serums, spot treatments, moisturizers and sunscreens.
The company is expanding into quick-commerce channels and plans to explore offline retail partnerships. Its website now serves more than 18,000 PIN codes, with over 2,000 PIN codes eligible for delivery within 24 hours.
Asaya said its customer base has grown ninefold since its previous funding round, while its social media following has increased eightfold. It is also planning to nearly double its team in the coming months.
The company is targeting INR 200 crore in ARR within the next 18 months.
