PE-VC Fund Investments
Gated communities' security mgmt enabler Mygate raises Rs.225-Cr from Dharana Capital
Bengaluru-headquartered Mygate has raised INR 225 crore from Dharana Capital. The transaction comprises a mix of primary capital and secondary share sales by early investors. This investment values the company between INR 2,100 crore and INR 2,300 crore for a 12-14% stake.Founded in 2016 by Abhishek Kumar, Vijay Arisetty, and Shreyans Daga, Mygate operates a technology platform for gated communities. The company claims to serve over 27,000 residential communities and more than 5.7 million households with products spanning security, accounting, and resident engagement.The company plans to use the new primary funds to accelerate its expansion across India, pilot projects in the Middle East, and the development of additional payment solutions for households.
Between Jun 2017 and Nov 2022, myGate had attracted about $ 80 M from Horizons Ventures, Prime Venture Partners, JS Capital, Tencent, Tiger Global and others.For FY25, myGate had reported about INR 173 Cr in Operating Income and about INR 15 Cr in Net Loss.
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