Skincare start-up Asaya announced on Thursday that it has secured Rs 12 crore in seed funding. The round was led by OTP Ventures and Huddle Ventures, with additional investments from Eternal Capital. The company stated that the fresh funds will be used for research and development of products catering to melanin-specific needs, as well as to enhance their market reach.
Neeraj Biyani, Co-founder of Asaya, mentioned, “This funding will enable us to expand our consumer base from 20,000 to over 2,50,000 in the next 12 months. We plan to improve our communication efforts and service capabilities to provide faster and more informed service to our rapidly growing customer base.”
The funding round is a part of Asaya’s larger strategy to secure additional investments as the company continues to grow. It will support ongoing research and development, with future funding rounds planned for product development.