Mygate Secures Funding for Expansion
Mygate, a Bengaluru-based company specializing in community management solutions, has successfully raised $25.65 million (Rs 225 crore) from Dharana Capital. Founded to streamline residential welfare association (RWA) operations, Mygate offers a platform that helps manage amenities, accounting, and resident engagement with over 250 features.
Funding Details
The funding round, which remains undisclosed, was led by Dharana Capital. This investment marks a significant step for Mygate as it looks to enhance its technology and expand its reach.
Strategic Expansion Plans
With the new funding, Mygate aims to increase its presence from 5.7 million homes to 10 million homes across India. The company plans to accelerate sign-ups in gated communities, thereby enhancing its footprint in the domestic market. Additionally, Mygate is eyeing international expansion, with plans to enter markets in the Middle East.
Use of Funds
The funds will be utilized not only for expanding the user base but also for strengthening Mygate's product and technology capabilities. This strategic move is expected to bolster their service offerings and improve customer engagement.
Leadership and Vision
While the company was initially founded by Abhishek Kumar, Shreyans Daga, and Vijay Arisetty, Mygate has seen changes in its leadership structure. Rohit Jindal, who joined as Chief Business Officer in 2017, was elevated to co-founder in June 2025. Meanwhile, Vijay Arisetty has transitioned to the role of chairman of the board and has taken on new ventures.
Abhishek Kumar, co-founder and CEO, stated: "We are looking to capitalize on our strength and expand Mygate rapidly from nearly 5.7 million homes to 10 million homes, by accelerating sign-ups across communities in India."
Conclusion
The investment by Dharana Capital not only provides Mygate with the financial backing to pursue its ambitious growth plans but also positions the company to enhance its technological offerings and expand internationally. This funding round is a testament to the growing demand for efficient community management solutions in residential areas.