myGate, a mobile-based security management solution for gated premises, has raised Rs 65 crore in a Series A round led by existing investor Prime Venture Partners.
It will use the funds to grow its workforce and invest in technology. The start-up also plans to expand rapidly across 10 cities including Chennai, Mumbai and Delhi-NCR, the company said in a statement on Monday.
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In January this year, myGate had raised Rs 16 crore in its first round of external funding led by Prime Venture Partners.
myGate, run by Bengaluru-based Vivish Technologies, was founded in mid-2016 by Vijay Arisetty, a former Indian Air Force pilot who also worked with Goldman Sachs; Abhishek Kumar, a former vice president at Goldman Sachs; Vivaik Bhardwaj, who is also a former Indian Air Force pilot; and Shreyans Daga, an alumnus of the Indian School of Business, Hyderabad.
“Technology is pervasive and it was only a matter of time for the security at gated communities to be transformed using smart and intelligent solutions… We will expand the myGate team across all cities,” said Arisetty, who is also the CEO.
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Before founding the company, Arisetty and Kumar worked as security guards at gated communities for over three months to understand the problem that the guards often face and how and where the potential lapses occur. The app allows homeowners to interact with the guards via text messages and app alerts.
The app has two versions—for the security guard and for residents. Regular visitors are provided with a one-time password, which they give to the security guard at the entrance. There is a voice call option for non-smartphone users. With this system, all visitor entries and exits are logged digitally.
The company claims its product has been adopted by more than 250,000 homes across over 1,000 communities in Bengaluru, Hyderabad and Pune.
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