Community management and security startup Mygate has secured Rs 225 crore (around $26 million) in funding from Dharana Capital as the company looks to expand its reach and invest further in technology and product development.
As part of the transaction, Dharana Capital has acquired a 12-14% stake in Mygate through a mix of primary capital infusion and secondary share sales.
The fresh capital will be used to expand Mygate’s footprint across gated communities, strengthen its integrated platform, and enhance its product and technology capabilities. The company is also targeting expansion to 10 million homes over the coming years.
Founded by Abhishek Kumar, Shreyans Daga, Vijay Arisetty, and Rohit Jindal, Mygate offers a technology platform for residential communities, enabling RWAs and residents to manage visitor access, finances, amenities, communications, and other day-to-day operations. The company also operates a brand engagement and advertising platform for consumer brands.
Mygate claims to serve over 27,000 residential communities and 5.7 million households across India.
The investment comes after Mygate reported substantial growth in FY25. The company’s operating revenue grew 80% to Rs 173.5 crore in FY25 from Rs 96.2 crore in FY24.
The company also narrowed its net loss by 61% to Rs 15.4 crore in FY25 from Rs 39.7 crore in the previous fiscal. According to the company, it would have been profitable if not for ESOP and stock-based compensation expenses of Rs 22.5 crore during FY25.
The latest round is the first major funding for Mygate in more than three years. The startup had previously raised $56 million in a Series B round in October 2019. It later secured a $12 million strategic investment from Urban Company and Acko in November 2022.
Dharana Capital is an India-focused growth-stage technology and consumer investment firm whose portfolio includes Urban Company, Vyapar, Zopper, Lentra, Itilite, Petpooja, Temple, LAT Aerospace, and Beyond Appliances.
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