Beauty brand Asaya raises $1.5 million in seed funding round

Asaya, a premium skincare brand has raised $1.5 million (Rs 12 crore) in a seed funding round led by OTP Ventures, Huddle Ventures, and Eternal Capital.

The company will utilise the funds to diversify its product portfolio, research & development and enhance its market reach.

Commenting on the funding, Neeraj Biyani, co-founder of Asaya in a statement said, “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.”

“We plan to significantly enhance our communication efforts and service capabilities to provide faster and more informed service to our rapidly growing customer base,” he added.

Launched in September 2023 by Neeraj Biyani, Mandeep Bhatia, and Eeti Sharma, Asaya retails through its website and online retail platforms like Nykaa, Amazon, Flipkart, Myntra among others.