Mygate raises ₹225 Cr ($23.6M) Series A from Dharana Capital to fuel expansion
What's the deal? MygateDealroom has a profile for this one. Try Dealroom →, the community management and security startup, has raised ₹225 Cr ($23.6M) from Dharana CapitalDealroom has a profile for this one. Try Dealroom →. The Bengaluru-based company plans to use the capital to expand from 5.7 million homes to 10 million, strengthen its platform, and make its first push into international markets.
Founded in 2016 by Abhishek Kumar, Shreyans Daga, and Vijay Arisetty, Mygate provides app-based security solutions for gated communities — managing entry and exit points as an alternative to RFID cards, biometrics, and vehicle stickers. It makes money through a SaaS subscription model, where housing societies pay annual or multi-year fees for access to its security and management tools.
Why now? Mygate is riding strong financial momentum. Cofounder and CEO Kumar said it closed FY26 with revenue of ₹232 Cr, a 34% jump from ₹173.5 Cr the year before, while posting an EBITDA margin of 10–12%.
In FY25, the startup slashed its net loss by 61% to ₹15.4 Cr from ₹39.7 Cr — and would have been profitable were it not for ₹22.5 Cr in ESOP-related expenses. For FY27, it expects 37% revenue growth and aims to turn PAT positive.
Kumar hinted that part of the new capital will fund expansion into East Asian markets, alongside product upgrades like a household calendar of payments.
What could go wrong? Mygate has seen leadership churn. In 2024, cofounder Arisetty left his advisory role to become CEO at a different startup, AurmDealroom has a profile for this one. Try Dealroom →. In June 2025, the company elevated chief business officer Rohit Jindal to cofounder — an unusual move that signals internal reshuffling.
International expansion also carries risk. Gated community management is deeply local, shaped by different regulations, security norms, and resident expectations across markets.
The signal: Mygate's raise reflects growing investor appetite for proptech infrastructure plays that lock in recurring SaaS revenue from India's expanding urban housing stock. Prior to this round, it had raised close to $80M from Tiger Global, Prime Venture PartnersDealroom has a profile for this one. Try Dealroom →, and others.
The startup's path from heavy losses to near-profitability — while growing revenue at over 30% — shows that vertical SaaS models serving India's residential communities can scale sustainably. Its bet on East Asia suggests the model may travel beyond India's borders.
