myGate, a security solutions firm has raised INR 65 crores in Series A round of funding from existing investor Prime Venture Partners. myGate plans to utilize the funds to increase its workforce and improve technology. The startup also plans to expand its presence and operations in more than 10 cities including Mumbai, Delhi and Chennai.
myGate aims to bring more than 2.9 million users by the end of next year. myGate is currently operational in Bengaluru, Hyderabad and Pune. The startup offers a mobile-based app which provides a comprehensive solution for gated societies and communities to manage operations at the entry and exit gates.
Vijay Arisetty, co-founder & CEO, myGate said, “We are humbled by the massive adoption of myGate’s solution across top metros. Customers are delighted and we are now excited to take this across India. Technology is pervasive and it was only a matter of time for the security at gated communities to be transformed using smart & intelligent solutions.”
“From our very first interaction with the product to the first meeting with the team, We have been consistently impressed with myGate. Customers love the product and the team is passionate and singularly focused on solving the problems of security in gated communities,” said Sanjay Swamy, Managing Partner, Prime Venture Partners.
myGate’s tech-enabled platform helps housing societies automate tasks and optimize the security process. Currently, most of the process involved is manual and myGate looks forward to digitizing the entire workflow. myGate had raised $2.5 million from Prime Venture Partners in January 2018. Security guards are given smartphones through which they can collect parcels, manage the movement of delivery agents and keep a tab on the entry of domestic help and guests.