Asaya—a skin care startup brand that specializes in products for melanin-rich skin—has raised $1.5 million, which will be used for melanin-centric research, product development and expanding the brand's market reach, according to Pune.News.
The funding was co-led by OTP Ventures and Huddle Ventures.
Asaya was founded in 2023 by Neeraj Biyani, Mandeep Bhatia and Eeti Sharma.
Global Cosmetic Industry recently reported that India is "expected to emerge as a new hot spot," according to McKinsey.
NielsenIQ data shows India’s beauty sales were up 7.1% year over year as of Q3 2023.
Esqa Raises $4M
Esqa, Indonesia's first vegan cosmetics brand, raised $4 million in a Series B round led by Unilever Ventures, according to Green Queen.
This funding follows a $6 million Series A round the brand raised in 2022.
The $4 million will be used to expand Esqa's retail presence, with plans to open between five and 10 stores.
Esqa has particularly gained traction in the last year with Gen Z consumers through its growing TikTok channel. According to Green Queen, the brand's growth on TikTok in Q1 2023 increased six times.
Esqa was founded in 2016 by Cindy Angelina and Kezia Trihatmanto.
