Why Has Mygate Raised Fresh Capital?
Community management and residential security platform Mygate has secured ₹225 crore (approximately $26 million) in fresh funding from Dharana Capital, marking its first major funding round in more than three years.
The investment comes as Mygate accelerates its efforts to expand across India’s growing network of gated residential communities while strengthening its technology and product ecosystem.
As part of the transaction, Dharana Capital has acquired a 12–14% stake in the company through a combination of primary capital infusion and secondary share purchases.
The funding highlights growing investor confidence in residential community technology platforms that are increasingly becoming an integral part of urban living and housing management across India.
How Will Mygate Use The New Funding?
The newly raised capital will primarily be deployed toward expanding Mygate’s presence across residential communities, enhancing its technology infrastructure, and improving product capabilities.
The company plans to deepen its footprint in existing markets while entering new residential clusters across the country.
Mygate is also investing in building a more integrated platform that can serve the evolving needs of residents, Resident Welfare Associations (RWAs), and housing societies.
A key growth target for the company is expanding its reach from the current 5.7 million households to 10 million homes over the coming years.
The investment is expected to support both customer acquisition and product innovation initiatives.
What Does Mygate Offer?
Founded in 2016 by Abhishek Kumar, Shreyans Daga, Vijay Arisetty, and Ritesh Agarwal, Mygate has emerged as one of India’s leading community management platforms.
The company enables residential societies and gated communities to digitally manage visitor access, security operations, communication systems, amenity bookings, accounting processes, and other day-to-day administrative activities.
Beyond community management, Mygate has also built a consumer engagement and advertising platform that allows brands to connect directly with residents within housing societies.
This diversified business model has helped the company create multiple revenue streams while strengthening user engagement across its platform.
How Large Is Mygate’s Network Today?
Mygate has built a significant presence within India’s residential ecosystem over the past decade.
According to the company, its platform currently serves more than 27,000 residential communities and over 5.7 million households nationwide.
The scale positions Mygate among the largest proptech and community management platforms operating in India.
As urbanization continues and the number of gated communities rises, the company sees substantial opportunities to increase penetration across both existing and emerging residential markets.
Its technology first approach has enabled housing societies to digitize operations and improve resident experiences through a single integrated platform.
How Is Mygate Performing Financially?
The funding round comes on the back of strong financial performance during FY25.
According to the company, operating revenue increased by 80% year-on-year to ₹173.5 crore in FY25, compared to ₹96.2 crore in FY24.
At the same time, Mygate significantly improved profitability metrics by reducing its net loss by 61% to ₹15.4 crore from ₹39.7 crore in the previous fiscal year.
Management indicated that the company would have achieved profitability during FY25 if not for employee stock ownership plan (ESOP) and stock-based compensation expenses amounting to ₹22.5 crore.
The financial performance reflects improving operational efficiency alongside continued business growth.
Why Is This Investment Significant?
The transaction represents a major milestone for Mygate after a relatively quiet funding period.
The company previously raised $56 million in a Series B round in 2019 and later secured a strategic investment from Urban Company and Acko in 2022.
For Dharana Capital, the investment adds another high-growth technology platform to its portfolio, which already includes companies such as Urban Company, Vyapar, Zopper, Lentra, Itilite, Petpooja, Temple, LAT Aerospace, and Beyond Appliances.
As India’s residential technology market continues to evolve, Mygate’s combination of community management, security solutions, and consumer engagement services positions it to benefit from increasing digitization within housing societies and gated communities.
