Wednesday, July 6, 2022
Tech ObserverNewsStartupsmyGate raises Rs 65 crore in Series A funding led by Prime Venture Partners

myGate raises Rs 65 crore in Series A funding led by Prime Venture Partners

, a mobile-based security management solution has raised Series A funds of Rs 65 crore, led by existing investor . The company said that its solutions have been adopted by more than 250,000 homes across over 1000 communities in Bangalore, Hyderabad & Pune and the newly infused funds would be used for expansion and improving the business. The is looking at 10x growth in 2019, said a spokesperson.

“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. We believe in innovation, quality service and trust and will use the funds to invest in technology to further enhance our state-of-art, 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 & CEO, myGate.

myGate offers a mobile-app-based system that offers a comprehensive solution for gated communities to manage operations at the entry and exit gates by automating and digitising the tasks at the gate for security. The firm claimed that the communities where its services are being used, “they do not have to invest in any other isolated systems like RFID cards, fingerprint biometrics, access cards, vehicle stickers.”

“With myGate, gated communities have the option to optimise on security guards and make them more effective, since most of the manual process at the gate are digitized. Requiring only basic skills for operation, more than 25,000 guards are already well-versed with the myGate security solution and are using it,” said the startup. The company said that it takes the complete responsibility of training the guards any time and any number of times as needed through the life of the contract.

myGate is available at zero infrastructure cost. Few product features of the product include child safety alert, e-intercom for visitor authentication, parcel management, real time domestic help management, complete staff attendance management, multi-home management, digital validation of all staff and residents, & multi-tiered access system.

“Gated communities with essential amenities have become the preferred choice among residents. The presumed security and safety offered by these communities is a major reason why many prefer to move into gated premises. However, the current security process relies on conventional “man-guarding”, primitive pen & paper, and landline telephone to log external footfall. Hardware still forms a major part of the traditional security system in the form of access cards, biometrics, car stickers and so on. These solutions are capital intensive, work in isolation and the benefits tend to wane over time. Most residential premises grapple with an ever-increasing external vehicle and people footfall – be it staff, services, cabs & delivery executives. Hence, there is a dire need for communities to make way for smart and intelligent solutions that address modern gate management challenges,” said myGate.

“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. At myGate, making security convenient isn’t just a tagline – it’s a mission that the team is relentlessly pursuing,” said Sanjay Swamy, managing partner, Prime Venture Partners.

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