Bengaluru based apartment security management solution provider myGate has raised Rs 16 crore funding in a round led by Prime Venture Partners.
Founded back in 2016 by Vijay Arisetty, the platform comprises of Android/iOS apps for security guards and residents that digitally logs in the visitors’ exits and entries, thereby eliminating the traditional “paper and pen system.”
The company is planning to revamp the technology its platform uses and strengthen its geographical presence in Pune, Hyderabad and Delhi-NCR.
“We are looking at scaling up to 2 million homes across the top 7 cities within the next two years,” Arisetty said.
The security services market in India is valued approximately at $6 billion, out of which gated-premise security market is worth $2 billion, as per the reports by Grant Thornton.
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