Security tech start-up MyGate has raised Rs 100 crore from home services marketplace, Urban Company, and direct-to-consumer brand, Acko. This partnership will allow both the companies to offer their services on the MyGate app. Both companies will work closely with MyGate on product development, technology, and user experience to create unique offerings for residential societies.
Other investors which back MyGate include Tiger Global, Tencent Holdings, Seabright and a few others. The company last raised a series B funding round of $56 million in 2019.
Commenting on this development, Vijay Arisetty, CEO and Co-founder of MyGate, said, “These strategic partnerships align well with our long-term vision of providing security and convenience to MyGate communities. ACKO will be our exclusive partner to extend security via its protection solutions while Urban Company will bring its array of top-quality home services to our users directly on the MyGate app.”
Abhiraj Singh Bahl, Co-founder and CEO of Urban Company added that this partnership will help them (UC) draw a deeper understanding of the gated communities. “This will unlock not only new consumer demand channels for us but also will give us an opportunity to innovate on our product offering to service gated communities. This will further strengthen our presence in the top cities,” he said.
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