[2][3] A gold medalist in commercial arts from Sophia Polytechnic, Mumbai, Ashwiny spent 15 years in the advertising agency Leo Burnett (India).

[6] The film was produced by Colour Yellow Productions (Aanand L Rai) in association with JAR Pictures and Opticus Inc. and presented by Eros International .

[14][15] Iyer achieved her breakthrough with the romantic comedy-drama Bareilly Ki Barfi (2017) starring Kriti Sanon, Ayushmann Khurrana and Rajkummar Rao in lead roles.

Based on Nicolas Barreau's novel The Ingredients of Love, the film received widespread critical acclaim upon release, with high praise for its direction, screenplay, dialogue, soundtrack, setting and the performances of the cast.

[18] In 2018, Iyer teamed up with Kangana Ranaut, Neena Gupta, Richa Chadda and Jassie Gill to make Panga, a film about a new-age family that challenges stereotypes.

Iyer is the co-founder of the production house, Earthsky Pictures, under which she has produced Break Point, a docu-series based on Tennis legends, Leander Paes and Mahesh Bhupathi, and several ad films.