myGate raises ₹65 cr, to invest in technology and for expansion

Bengaluru | Updated on October 15, 2018 Published on October 15, 2018

Vijay Arisetty, co-founder and CEO, myGate   -  AMIT

myGate, a mobile-based security management solution for gated premises has been adopted by more than 250,000 homes across 1,000 communities in Bengaluru, Hyderabad and Pune.

Having achieved this milestone in 18 months of its launch, myGate expanding in 10 cities including Chennai, Mumbai and Delhi NCR, targeting 10x growth in 2019. To fuel this expansion, myGate has raised Series A funds of ₹65 crore, led by existing investor Prime Venture Partners.

“We will invest in technology to enhance our cost-effective security solutions. We will also expand the myGate team across all cities to offer best possible service to our customers” said Vijay Arisetty, co-founder and CEO, myGate.

A mobile-app-based system, myGate is available at zero hardware/infrastructure cost.

Gated communities using myGate, need not have to invest in any other isolated systems such as RFID cards, fingerprint biometrics, access cards and vehicle stickers. Requiring only basic skills for operation, more than 25,000 guards are already well-versed with the myGate security solution. The company takes the complete responsibility of training the guards any time and any number of times as needed through the life of the contract.

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Published on October 15, 2018
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