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Beauty brand Asaya raises $1.5 Mn from OTP Ventures and others

EntrackrEntrackr · 1y ago
Beauty brand Asaya raises $1.5 Mn from OTP Ventures and others
Medial

Premium skincare brand Asaya has raised Rs 12 crore ($ 1.5 million) in Seed funding round led by OTP Ventures and Huddle Ventures, with additional investments from Eternal Capital. The funds will be allocated towards melanin-centric research and developing more products that cater to melanin-specific needs, the company said in a press release. Part of the funding will also be utilised to enhance market reach. Launched in September 2023 by Neeraj Biyani (former Co-founder of Paper Boat), Mandeep Bhatia, and Eeti Sharma, Asaya has rapidly expanded its sales and customer base, retailing through its website and online retail platforms like Nykaa, Amazon, Flipkart, and Myntra. Currently, it claims to have more than 11 products and 23 SKUs. According to Biyani, this funding will help us go from 20,000 to over 250,000 consumers in the next 12 months. Suhail Sameer, who is the former CEO of BharatPe, is serving venture capital firm OTP Venture as managing partner. As per a media report, OTP Ventures is also looking to close its debut fund at Rs 400 crore by June. The firm recently led $1 million round in CirclePe.

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Asaya raises $3 Mn in pre-Series A round led by RPSG Capital

EntrackrEntrackr · 3m ago
Asaya raises $3 Mn in pre-Series A round led by RPSG Capital
Medial

Asaya, a research-backed skincare brand focused on hyperpigmentation, has raised Rs 28 crore (around $3 million) in a pre-Series A round led by RPSG Capital. Other investors include Suyash Saraf and Anisha Agarwal Saraf, co-founders of Dot & Key, alongside existing backers OTP Ventures and Huddle Ventures. The proceeds will be used to set up a state-of-the-art innovation center, accelerate product development, and expand distribution. Founded by Neeraj Biyani, Anupam Sinha and Ritu Malhotra, Asaya’s current product line includes serums, creams, face masks, and treatments for hyperpigmentation, uneven skin tone, and related concerns. The firm follows a direct-to-consumer (D2C) model, selling via its own online channels, quick-commerce platforms, and select offline retail. This approach allows it to control pricing, maintain transparency, and bring research-driven solutions directly to consumers. Asaya claims to have grown 400% year-on-year, driven by its proprietary patented molecule MelaMe™, which delivers clinically proven results in 14 days and has consistently outperformed global beauty brands in tests on Indian skin types. Asaya plans to launch six new products in the next 12 months, including a line featuring another patented molecule targeting a major Indian skin concern after 1.5 years of research. Asaya competes with both multinational giants like L’Oréal, P&G, and Unilever and homegrown digital-first brands such as Mamaearth, Minimalist, and Dot & Key.

Moxie Beauty raises Rs 17.3 Cr led by Fireside Ventures

EntrackrEntrackr · 1y ago
Moxie Beauty raises Rs 17.3 Cr led by Fireside Ventures
Medial

D2C haircare brand Moxie Beauty has raised Rs 17.3 crore or $2.1 million in a new round led by Fireside Ventures. The round also saw participation from a group of angel investors, including Samir Singh (ex Unilever CMO Personal Care, Chair Unilever Asia), Arjun Purkayastha, Suhasini Sampath (founder, Yoga Bar), Navin Parwal and Sangeet Agrawal (founders, Mokobara). In April last year, the Gurugram-based startup had raised $669K in its seed round from Amplify Partners, OTP Venture Partners and others. The new proceeds will be used towards product innovation and research, hiring talent, and expanding distribution channels. Launched by Nikita Khanna and Anmol Ahlawat, Moxie Beauty makes salon-quality hair care products that are tailored for Indian hair textures. Besides essentials like shampoo and conditioner, it offers leave-in products and styling products that help tackle dryness and frizz.

CirclePe raises close to $1 Mn in pre-seed round

EntrackrEntrackr · 1y ago
CirclePe raises close to $1 Mn in pre-seed round
Medial

Fintech startup CirclePe has raised close to $1 million in its pre-seed round led by OTP Ventures, with participation from 1947 Rise, iSeed, IIT Delhi, Venture Catalyst, and founders and CXOs from OfBusiness, BharatPe, Uni Cards, OYO, and others. Led by Navan Jaiswal and Ankur Yadav, CirclePe’s ‘Smart Renting’ solution allows credit-worthy tenants to opt for a zero security-deposit move-in, enjoying the luxury of paying only their monthly rent without any extra charges. By partnering with major proptechs, CirclePe is enabling the smart renting feature for independent retail landlords and co-living operators, providing an easy and hassle-free rental experience. By eliminating the need for heavy security deposits paid by tenants and unlocking capital for landlords and co-living operators, CirclePe aims to disrupt the traditional rental value chain. Suhail Sameer, who is the former CEO of BharatPe, is serving venture capital firm OTP Venture as managing partner. As per a media report, OTP Ventures is also looking to close its debut fund at Rs 400 crore by June.

Ice cream brand Go Zero raises $1.5 Mn

EntrackrEntrackr · 1y ago
Ice cream brand Go Zero raises $1.5 Mn
Medial

Ice cream brand Go Zero has raised $1.5 million in its follow-on pre-Series A funding round from DSG Consumer Partners, Saama, and V3 Ventures, among others. The round also saw participation from notable angel investors such as Arjun Purkayastha. Earlier in August last year, the startup had raised $1 million in its pre-Series A funding round led by DSG Consumer Partners, Saama, and V3 Ventures. Founded by Kiran Shah, Go Zero has a diversified product portfolio featuring low-calorie, high-protein, and vegan ice creams. The startup claims that all its products are sweetened with plant-based sweeteners, which are low in calories. Currently present in 16 cities and over 125 dark stores, Go Zero ice cream brand is available on both quick commerce and e-commerce platforms in less than two years of launch. In FY24, Go Zero claims to have grown 4X compared to FY23 and while it saw 7X growth on quick commerce in just 5 months this summer. Go Zero competes with Hocco and NIC. Last year, NIC had raised $11 million in a growth funding round led by Jungle Ventures whereas Hocco recently raised $12 million from Chona family and others.

Haircare startup Moxie Beauty raises $15 Mn in Series A led by Bessemer

EntrackrEntrackr · 14d ago
Haircare startup Moxie Beauty raises $15 Mn in Series A led by Bessemer
Medial

Haircare brand Moxie Beauty has raised $15 million in a Series A funding round led by Bessemer Venture Partners. Existing backer Fireside Ventures also participated in the round, along with angel investors including Navin Parwal, Sangeet Agarwal, and Arjun Purkayastha. The firm did not disclose its valuation. Earlier in July last year, the Gurugram-based brand had raised Rs 17.3 crore ($2.1 million) in a new round led by Fireside Ventures. Back in April 2023, Moxie had raised $669K in its seed round from Amplify Partners, OTP Venture Partners, and others. The new proceeds will be used to expand its product development and research efforts, hire across key functions, and scale distribution channels. Moxie Beauty said it is working on new product formats and formulations, with a focus on styling and scalp health categories. Founded in 2023 by Nikita Khanna and Anmol Ahlawat, Moxie Beauty focuses on haircare products designed for Indian hair textures and climate conditions. The firm currently has a portfolio of 19 products spanning shampoos, conditioners, styling formats, and scalp care. Its products are sold across online platforms such as Nykaa and Amazon. According to Moxie, it has crossed Rs 100 crore in annual recurring revenue within two years of launch and reported a four-fold increase in monthly revenue over the past year. It also claims that several of its products rank among top-selling items in their respective categories on major marketplaces, with an overall customer retention rate of over 40%. Moxie sources a portion of its raw materials globally and develops formulations in-house. Some products are positioned as category-first offerings in the Indian market. The lead investor Bessemer Venture Partners had closed a $350 million in capital for its second dedicated India fund in March this year. Its recent investments include Graph AI, Seekho, and TransBnk.

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