MyGate Funding Boost of Rs 225 Crore for Expansion and Technology Development

MyGate has secured Rs 225 crore, approximately $26 million, in funding from Dharana Capital as the company seeks to increase its presence and further invest in technology and product innovation. With this transaction, Dharana Capital has acquired a stake of 12-14% in MyGate through a combination of primary capital infusion and secondary share sales.

The newly acquired funds will facilitate MyGate’s expansion into gated communities, enhance its integrated platform, and improve its product and technology offerings. The startup has set an ambitious target to reach 10 million homes in the forthcoming years.

About MyGate

Founded in 2016 by Abhishek Kumar, Shreyans Daga, Vijay Arisetty, and Ritesh Agarwal, MyGate is a technology platform designed for residential communities. It allows Resident Welfare Associations (RWAs) and residents to manage visitor access, finances, amenities, communication, and other daily operations. Additionally, MyGate operates a brand engagement and advertising platform targeting consumer brands.

Current Reach and Growth

MyGate claims to serve over 27,000 residential communities and 5.7 million households across India. This latest investment follows a significant growth report for the financial year 2025, during which the company’s operating revenue surged by 80%, reaching Rs 173.5 crore, up from Rs 96.2 crore in FY24. Furthermore, MyGate has managed to reduce its net loss by 61%, lowering it to Rs 15.4 crore in FY25 compared to Rs 39.7 crore in the previous fiscal year.

The company indicated it would have posted a profit if not for expenses stemming from Employee Stock Option Plans (ESOP) and stock-based compensations totalling Rs 22.5 crore during FY25.

Recent Funding History

This round of funding is the first significant investment for MyGate in over three years. In October 2019, the startup raised $56 million in a Series B round. More recently, in November 2022, MyGate secured a strategic investment of $12 million from Urban Company and Acko.

Dharana Capital focuses on growth-stage investments in technology and consumer sectors in India, with a diverse portfolio that includes Urban Company, Vyapar, Zopper, Lentra, Itilite, Petpooja, Temple, LAT Aerospace, and Beyond Appliances.