Gated community management platform Mygate has raised Rs 225 crore (approximately $26 million) funding from growth-stage investment firm Dharana Capital. The transaction involves a mix of primary capital infusion and secondary share sales, giving Dharana Capital a 12-14% stake in the Bengaluru-based startup.
The fresh capital will be deployed to expand Mygate’s presence across residential complexes, scale its integrated platform, and invest in its product and technology architecture. The company has set a long-term target to scale its services to 10 million households across India.
Funding Details
Prior to this development, the company experienced a prolonged funding interval. This marks Mygate’s first major institutional capital raise in over three years, following a $56 million Series B round in October 2019 and a subsequent $12 million strategic investment from Urban Company and Acko in November 2022.
“The capital will allow us to deepen our footprint in existing markets while investing heavily in the underlying technology that powers our community operating system,” a senior company representative stated. “Our focus remains on building a sustainable, long-term business that solves daily operational challenges for residents and management committees alike.”
Financial Metrics
The investment follows a period of financial improvement for the startup in the last fiscal year. Mygate reported an 80% growth in operating revenue, which rose to Rs 173.5 crore in FY25 from Rs 96.2 crore in FY24.
Concurrently, the company managed to reduce its losses. Net losses narrowed by 61% to Rs 15.4 crore in FY25, down from Rs 39.7 crore in the previous fiscal year.
"Operationally, the business has moved closer to profitability. If non-cash expenses like Employee Stock Ownership Plans (ESOPs) and stock-based compensation worth Rs 22.5 crore were excluded, the company would have achieved net profitability during the last fiscal year," the management team noted.
Scale and Growth
The platform currently serves over 27,000 residential communities and 5.7 million households across major Indian cities. Beyond security and community management, Mygate has built a parallel revenue stream through a brand engagement and advertising platform, allowing consumer brands to target audiences within premium residential pockets.
Dharana Capital’s entry into Mygate adds to its existing portfolio of growth-stage technology and consumer businesses, which includes companies such as Urban Company, Vyapar, Zopper, Lentra, Itilite, Petpooja, Temple, LAT Aerospace, and Beyond Appliances.
About Mygate
Mygate was founded in 2016 by Abhishek Kumar, Shreyans Daga, Vijay Arisetty, and Ritesh Agarwal, Mygate provides a comprehensive technology platform designed for residential communities. The software enables Resident Welfare Associations (RWAs) and residents to manage daily apartment operations, including visitor access, society finances, amenity bookings, and internal communications. The company is headquartered in Bengaluru and operates on a business-to-business-to-consumer (B2B2C) model across major metropolitan hubs in India.
