# D2C skincare brands Be Clinical, Asaya raise Rs 109 crore combined
2026-08-22T21:56:52+00:00 | Business & Economy | Indian Opinion Desk
Corroboration: 1 independent outlet (2 source reports)
Inc42 reports that two Indian D2C skincare startups raised a combined Rs 109 crore within days. Be Clinical secured Rs 21 crore in a seed extension round led by Sauce VC, with participation from V3 Ventures and angel investors including Mokobara founders. Asaya raised Rs 88 crore in a Series A round led by RPSG Capital, valuing the brand at Rs 400 crore, three times its previous valuation. Be Clinical, founded by Hemangi Dhir and launched in 2025 after two years of R&D, makes clinically tested products for ageing-related concerns. It plans to use the capital for R&D, expanding its portfolio, scaling manufacturing, and entering new geographies. Asaya, founded in 2021 by Neeraj Biyani, Eeti Sharma, and Mandeep Bhatia, focuses on products for melanin-rich skin with a proprietary complex to reduce hyperpigmentation. It will deploy nearly 20 per cent of funds toward R&D and the rest on product expansion, distribution, and team growth. Asaya reports operating at an annualised revenue run rate of Rs 100 crore, with revenue growing 16 times since its previous round, and targets Rs 200 crore ARR in 18 months. Both startups sell primarily through ecommerce and quick commerce platforms, with Asaya also exploring offline retail partnerships. India's beauty and personal care market was valued at $31.19 billion in 2025 and is projected to reach $48.72 billion by 2034.
## Indian Opinion Analysis
Both inc42.com stories frame the BPC sector as a booming investment story with identical market-size projections, reflecting the outlet's neutral-report style. The Be Clinical piece leads with a ₹21 crore seed extension and quotes an investor on evidence-led differentiation, while the Asaya story leads with a ₹88 crore Series A and a 3X valuation jump, highlighting revenue growth and offline retail ambitions. Neither story questions whether clinical-claims marketing outpaces regulatory oversight for such brands, nor does either examine the competitive crowding it reports. A careful reader should note both startups rely heavily on ecommerce and quick commerce channels, making them vulnerable to platform-policy shifts. The key number to watch is Asaya's stated target of ₹200 crore ARR in 18 months, which will test whether ingredient-led D2C brands can sustain their current growth multiples in a market inc42 itself calls crowded.
## Coverage
Coverage: 2 sources, 2 neutral
- inc42.com (neutral report)
Leads with each startup's funding details and market context, no critical angle on regulatory or competitive risks
- inc42.com (2) (neutral report)
Leads with Asaya's valuation increase and revenue growth, presents BPC segment as investor hotspot without counterbalance
This story was synthesised by AI from the 2 sources linked above.
Updated: this story now draws on 2 sources. Last updated 2026-09-27T06:20:55+00:00.
Tags: Be Clinical, Hemangi Dhir, V3 Ventures
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How this brief was made: an AI model read the reports linked above and wrote this summary and analysis, which were published automatically. Published briefs are sampled every hour by an automated quality check; the editor verifies its findings and approves corrections, and corrected briefs carry a dated correction line. Stance labels are editorial classifications of how each outlet framed this story, assigned by the same model, not ratings of the outlets. We do no original reporting. Methodology: https://indianopinion.org/ai-use-policy/