Flush with funds, home security tech startup MyGate goes on expansion spree

After raising Rs 400 crore from Chinese internet giant Tencent Holdings and others, MyGate, a company which provides technology to enhance security and convenience for residents in gated premises, is expanding to other parts of India. The company has forayed into Gujarat, where the Bengaluru-based startup has run a successful pilot in Ahmedabad over the past three months, during which it was adopted by over 14,000 homes across 100 gated communities. MyGate’s mobile-based solution will now also be available in the cities of Surat, Rajkot, Gandhinagar and Vadodara.

“With a large number of gated communities in a number of its cities, Gujarat is a strategic market in our expansion plan. Our initial pilot in Ahmedabad has received a phenomenal acceptance, leading to a wave of inbound demand from nearby cities as well,” said Abhishek Kumar, CEO and co-founder, MyGate.