Mygate Bags INR 225 Crore from Dharana Capital 

Mygate, a residential community management company, has raised INR 225 crore in funding from Dharana Capital.

The fresh capital will be deployed towards accelerating Mygate’s expansion, improving product and technology capabilities, and building a smarter and integrated operating system for residential communities.

Founded in 2016 by Vijay Arisetty (Founder & Chairman), Abhishek Kumar (Co-founder & CEO), and Shreyans Daga (Co-founder & CPO), the Bengaluru-based SaaS firm provides a full stack toolkit for housing society RWAs (Resident Welfare Associations) and a resident engagement app. 

The company claims that its solutions are used by over 27,000 residential communities and 5.7 million homes. Its solutions include management of gate & security, finance & accounting, amenities, and internal communication among others. The platform also features a built-in brand engagement & advertising  layer offering brands a powerful channel to engage with communities at scale.

“…Over the last three years, Mygate has delivered more than 3x revenue growth while achieving profitability and reinforcing its market leadership position. Our unwavering focus on solving real problems for gated communities at scale has been central to this journey…” Co-founder and CEO Kumar said in a statement.

That said, this is Mygate’s first large fundraise in a while. It had raised USD 56 million in a series B round way back in 2019 followed by a USD 12 million investment from Urban Company and Acko in November 2022. 

According to Entrackr, Mygate’s operating revenue rose 80% to INR 173.5 crore in FY25 from Rs 96.2 crore in FY24. Its losses went down by 61% to Rs 15.4 crore in FY25 from Rs 39.7 crore in the previous fiscal.

Dharana Capital, founded in 2022, has invested in rival NoBroker along with a slew of well-known startups like Lentra, Petpooja, and Vyapar.