Bengaluru-headquartered growth-stage investment firm Dharana Capital has invested Rs 225 crore (around $23.5 million) in residential community management platform Mygate, marking the investment firm's latest bet on India's proptech and consumer technology ecosystem.
Mygate, operated by Vivish Technologies Pvt. Ltd, said that it plans to use the fresh capital to expand its footprint across gated communities and to enhance product capabilities. The company is targeting expansion to 10 million homes over the coming years.
Mygate last raised Rs 100 crore in November 2022 as a strategic investment from the home service marketplace Urban Company and the insurance provider Acko.
Dharana Capital is an India-focused growth-stage investment firm backed by US university endowments and other institutional investors. Its portfolio includes Urban Company, LAT Aerospace, Vyapar, Temple, Zopper, Lentra, Itilite, Petpooja and Beyond Appliances.
Founded in 2016, Mygate provides software solutions for gated communities, including visitor and security management, finance and accounting tools, amenity booking, resident communications, and local commerce services. The company said its platform is used across more than 27,000 residential communities covering 5.7 million homes.
“We believe that urban India’s move towards gated communities is an irreversible trend and Mygate provides an essential platform to power these ecosystems,” Vamsi Duvvuri, founder and managing partner at Dharana Capital, said.
Mygate co-founder and CEO Abhishek Kumar said the company has delivered more than threefold revenue growth over the past three years while achieving profitability. “Over the last three years, Mygate has delivered more than 3x revenue growth while achieving profitability and reinforcing its market leadership position,” Kumar said.
In the financial year through March 2025, the company’s revenue stood at Rs 186.6 crore, with a net loss of Rs 15.4 crore. In FY26, the company’s revenue grew to around Rs 246 crore and was profitable, Kumar said.