A former project head at tech giant Oracle, Daga, co-founded MyGate
in 2016 along with Vijay Arisetty, an ex-IAF pilot (Shaurya Chakra awardee) and Abhishek K, former VP at Goldman Sachs.
“We started MyGate to solve for the real problem of security and inconvenience faced by households every day,” said Vijay Arisetty, chief executive and co-founder, MyGate.
MyGate has seen 5x growth over the past year and is now present in 1.2 million homes across 11 cities in India. Residents of these homes use the app to communicate with neighbours, manage visitors such as guests, as well as deliveries and cabs. They are also able to maintain attendance record and salary payments for daily helps, discover services and pay society maintenance bills. MyGate processes over 60,000 requests per minute and facilitates over 45 million check-in requests every month.
“Right from the first time I experienced MyGate as a customer just two years ago, it’s been great to see a fledgling startup
execute consistently and holistically, and grow into a category-creating market-leader,” said Sanjay Swamy, managing partner, Prime Venture Partners.
MyGate had earlier raised $11.5 million over two rounds of funding. In May 2019, the company also announced partnerships with several major e-commerce brands, including Swiggy, Zomato, Grofers and Dunzo, to make possible a silent and secure delivery experience for its users. With over 170,000 guards trained on its platform and successful implementation of artificial intelligence to speed up authentication procedures, MyGate said it was uniquely positioned to enable the digital transformation of the $20 billion private security industry.
The firm said its success and rapid uptake could be attributed to the dire need of a security solution that was robust, innovative and easy to use. Currently, over 45 million people reside in gated communities, a number that is growing at 13 per cent year-on-year. For this demographic, the importance of a solution to manage interactions with the home is increasing rapidly, particularly as greater number of goods and services arrive at the doorstep.
“We believe that their (MyGate) deep product focus and technological prowess will enable them to build solutions that bring positive gains to the entire ecosystem,” said Salil Seshadri, chief investment officer, JS Capital LLC.