Asaya raises Rs 12 crore in seed funding

New Delhi, Jun 20 (PTI) Skincare start-up Asaya on Thursday said it has raised Rs 12 crore in seed funding led by OTP Ventures and Huddle Ventures, with additional investments from Eternal Capital.

The fresh funds will be utilised towards research and development of more products that cater to melanin-specific needs, besides enhancing market reach, the company said in a statement.

"This funding will help us go from 20,000 to over 2,50,000 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," Asaya Co-founder Neeraj Biyani said.

This funding round is part of Asaya's larger strategy to secure more investments as the company grows. It will build on research conducted over the past 2.5 years, with future rounds planned to support ongoing R&D and product development, the company said.