Vijay Arisetty, a resident of a gated community in Bangalore, noticed that no amount of normal security could prevent the residential complex he lived in from petty crimes. He had an epiphany one day to develop a technology for the gated security system. He collaborated with his friends to make this abstract concept a concrete reality. Vijay and friend, Abhishek worked as security guards in society complexes for three months to understand the real scenario and worked for four months to build a security management app for homeowners and security guards. They launched the app in 2016.
Minimizing loopholes In The Security System
Initially, in spite of careful monitoring by the security guards, unauthorized folks managed to enter the premises due to manual errors and loopholes. Also, visitor authentication was a time-consuming process. MyGate app delivers a speedy and efficient electronic remedy to deal with the entrance and exit of traffic. Through the app, security personnel can have the visitors authenticated and authorized by the residents in no time.
myGate also helps Residents Welfare Associations in managing accounts, payments from residents, help desk, and other added services. Additionally, it eases visitor car parking control without compromising the spaces reserved for the owners.
Adopted By 4K Gated Communities
MyGate app has been designed keeping in mind people of all education levels and age groups. The interface is user-friendly, and the company commits to training the security for myGate any number of times throughout the life of the contract. The app caters to more than 4,000 gated communities in tier-1 and tier-2 cities like Bangalore, Hyderabad, Pune, and Chennai.
The Brains Behind The App
MyGate was founded by Vijay Arisetty who is an alumnus of IIM Ahmedabad and former VP of Goldman Sachs; Abhishek Kumar who is a former VP of Goldman Sachs; Vivaik Bharadwaj who is Director of Simility; and Shreyansh Daga who was a product manager at 9.9 Media.
Patrons Offering To Invest
Total funds raised by myGate is $11.3 Million. The last funding came on October 2018 of $8.8 Million by Prime Venture Partners. The funding was led by Sanjay Swamy and Amit Somani who lived in a society complex that used the myGate app. Impressed by its features they decided to invest in the startup. MyGate has an estimated revenue of $4Million per year.
Advance Security Systems Not Just For The Affluent
Many believed that sophisticated security system came with expensive technologies like biometrics, access cards and RFID tags. MyGate app made the state-of-the- art guard service accessible to all at a very nominal cost.
It has been three years since MyGate was launched in Bangalore. In these years MyGate expanded to other cities, raised funds in several rounds and saw a steady increase in the number of users. It continues to grow its operations and thrive as a startup. In the coming years, we will probably see more people taking up prevailing issues and coming with disruptive solutions.
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