January 18, 2018 / 6:56 AM / a month ago

BRIEF-myGate Raises 160 Mln Rupees In Its First Round Of Funding

Jan 18 (Reuters) - myGate:

* MYGATE RAISES 160 MILLION RUPEES IN ITS FIRST ROUND OF FUNDING, LED BY PRIME VENTURE PARTNERS Source text - myGate, a mobile-based security management solution for gated premises, today announced that it has raised INR 16 crore (approx $2.5 million) in its first round of funding, led by  Prime Venture Partners. Since its launch in Bengaluru in 2016, myGate has validated 24 million visits through their mobile app across 100,000 homes. The company will use the funds to invest in technology and scale to 2 million homes across the top 7 cities within the next two years. As a testament to its popularity amongst gated communities, 5000 guards are already using myGate in Bengaluru.

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