Community management and security technology platform Mygate has secured Rs 225 crore (approximately $26 million) in a funding round led by Dharana Capital. The investment is expected to support the company’s next phase of expansion, with a focus on scaling its presence across residential communities and strengthening its technology-driven offerings.
The transaction includes a combination of fresh capital infusion and secondary share sales. As part of the deal, Dharana Capital has acquired a 12-14% stake in the Bengaluru-based startup.
Capital Infusion to Support Expansion Strategy
Mygate plans to use the newly raised funds to deepen its reach within India’s growing network of gated residential communities. The company also intends to invest in product innovation and technology development to enhance the capabilities of its integrated platform.
A key part of its long-term strategy is to significantly increase the number of homes served through its ecosystem. The company has set a target of reaching 10 million households over the coming years, building on its existing presence in residential communities across the country.
Building Digital Infrastructure for Residential Communities
Founded by Abhishek Kumar, Shreyans Daga, Vijay Arisetty, and Rohit Jindal, Mygate provides a digital platform designed to simplify the management of residential communities.
Its services enable Resident Welfare Associations (RWAs), management committees, and residents to handle a wide range of day-to-day operations through a single platform. These include visitor management, community communications, financial administration, amenity bookings, and other residential services.
In addition to community management solutions, Mygate operates a brand engagement and advertising platform that allows consumer brands to connect with residents living in gated communities.
The company says its platform currently serves more than 27,000 residential communities and approximately 5.7 million households across India.
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Strong Revenue Growth Marks FY25 Performance
The funding comes at a time when Mygate has reported significant business growth during the financial year ended March 2025.
According to the company, operating revenue increased by 80% year-on-year to Rs 173.5 crore in FY25, compared with Rs 96.2 crore in FY24. The sharp rise in revenue reflects continued adoption of digital solutions by residential communities and growing engagement across the platform’s various services.
The company’s financial performance also showed notable improvement on the profitability front.
Losses Narrow Amid Improved Operational Efficiency
Mygate reduced its net loss by 61% during FY25. The company reported a net loss of Rs 15.4 crore, compared with Rs 39.7 crore in the previous financial year.
The startup stated that its financial results would have reflected profitability if employee stock ownership plan (ESOP) and stock-based compensation expenses of Rs 22.5 crore had not been included during the fiscal year.
The improvement in earnings highlights the company’s efforts to strengthen operational efficiency while continuing to invest in growth and platform development.
First Major Funding Round in More Than Three Years
The latest investment marks Mygate’s first significant fundraising event in over three years.
The company previously raised $56 million in its Series B funding round in October 2019, one of the largest investments in the residential community technology space at the time.
In November 2022, Mygate secured a strategic investment of $12 million from Urban Company and Acko, further strengthening its position in the proptech and community management ecosystem.
The fresh capital from Dharana Capital now provides additional resources for the company to pursue its expansion goals and enhance its product offerings.
Dharana Capital Strengthens Presence in Growth-Stage Startups
Dharana Capital is an India-focused investment firm that backs growth-stage technology and consumer businesses. The firm’s portfolio includes several prominent startups such as Urban Company, Vyapar, Zopper, Lentra, Itilite, Petpooja, Temple, LAT Aerospace, and Beyond Appliances.
With fresh funding, expanding adoption, and improving financial performance, Mygate is positioning itself for broader growth as it seeks to serve a larger share of India’s residential community market.
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