MyGate gets $56 million from Tencent, Tiger Global, others

Bengaluru: Security management startup MyGate has raised $56 million from Chinese internet giant Tencent, US-based Tiger Global Management, and JS Capital Management, the investment fund of Jonathan Soros.

Existing investor Prime Venture Partners also participated in the round.

MyGate helps gated communities manage their security and operations by digitising and automating manual tasks, as well as training security personnel.

It allows societies to regulate movement in their campuses where security guards are given smartphones through which they can collect parcels, manage movement of delivery agents and keep a tab on the entry of guests and domestic help.