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WHEN MyGate RAISED 2.5 MILLION OF FUNDING

With the help of early stage venture fund, Prime Venture Partners, a Bengaluru based start-up called myGate which is a mobile based security management solution for residential societies have raised 2.5 million (16 crores) in a funding round. The company aims to use these funds for the expansion of their start-up in seven cities across India as well as to update their present technological platform to enable it to handle increased volume.

 By using the myGate app which digitises security for gated communities, the owners of the apartments are able to control access of visitors and guests in the society premises at the main gate. Talking about the app myGate, the chief executive Vijay Arisetty says that it provides various degrees of control modes that can differentiate delivery boys from domestic helps and even guests.

He says, “An average 2000 apartment gated society gets around 3000 to 4000 visitors per day and our assumptions say that there are around 15 million villas and flats in the country with around 35 million residents,”. He also adds, “We are targeting that space with our smart phone based product and with this new funding hope to reach 20 lakh households over the next two years.”

MyGate is a start-up based in Bengaluru in the form of a security and community management app for gated premises. The company’s is co-founded by Arisetty Vijay in 2016 and it is spread across several major cities in India like Mumbai, Delhi, Pune, Hyderabad, Chennai, Kolkata, Ahmedabad and many more.

The CEO and founder of StartupLanes, Shishir Gupta says, “The newly added funds will help develop the app and make it accessible and useful to many more strata of people and will help MyGate to achieve new heights. With Arisetty Vijay’s dedication and level of hard work, I know that MyGate will soon begin to be counted among India’s most trusted security apps. I wish him all the best with the project.”

With the newly achieved heights in developing smart homes and the raising need of safety and security from the outside world, My Gate will surely succeed in bringing in new dimensions in the new age homes.

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