WillItSurvive
Vertical and industry software · India

MyGate

mygate.com ↗

App and hardware platform running visitor, payment, and security workflows for Indian gated communities.

Protection under test
Assessed 30 July 2026 · Evidence as of 30 July 2026
Something worth protecting exists and is being tested right now.
On the recordSince 30 July 2026 · Checkable from FY2027 · Every call on the record Checkpoint: FY27 results test the 37% growth and PAT-positive guidance given with the June 2026 Dharana Capital round
The call

MyGate holds its ground on installed societies and hardware while growth swings hard year to year and NoBrokerHood keeps pressing on price.

MyGate provides software and smart locks to help Indian apartment societies handle visitors, payments, and day-to-day operations. It is hard to replace because 25,000+ apartment groups already use it, tenants have learned the system, and the company holds government licenses. However, NoBrokerHood, which has received over $200 million in funding, offers nearly identical features and can afford to charge less or give it away for free while making money from real estate ads and rentals instead. MyGate's revenue growth has dropped sharply in recent years, and the company relies heavily on advertising income rather than subscription fees, which means it loses money faster when advertisers pull back. The biggest question is whether NoBrokerHood will use its cash advantage to undercut MyGate on price and squeeze it from both directions at once.

Why
01
AI pressure: None apparent. Generic AI chatbots could automate visitor Q&A and reconciliation, but can't replace smart locks or RWA contracts. Could AI do the core job? Unlikely.
02
Bigger players: NoBrokerHood. NoBrokerHood, backed by NoBroker's larger capital base, runs the same visitor and payment workflow in the same societies. Could a giant copy it? Probably.
03
What protects it. 25,000+ signed RWAs, installed smart-lock hardware, and IRDAI-licensed insurance flows make switching a full society vote, not a tap.
What would change this call
NoBrokerHood announces free or steeply discounted SaaS pricing cross-subsidized by brokerage revenue. Would show a rival using capital advantage to commoditize MyGate's core paid product.
MyGate's FY27 revenue growth and PAT figures released and compared against the 37% guidance. Would show whether deceleration continues or growth stabilizes as management projected.
Another round of senior MyGate executive departures reported within 12 months. Would signal internal execution instability during a funding-dependent growth phase.
Key numbers
  • FY24 revenue Rs 109.1 crore, +35% YoY (2024)
  • FY25 revenue Rs 186.7 crore, +71% YoY (2025)
  • FY26 revenue ~Rs 230 crore, growth slows to 23% (2026)
Named risks
  • Revenue growth decelerated from 71% to 23% YoY entering FY26. Severity: high
  • Ad-heavy revenue mix exposes business to advertiser demand cycles rather than pure SaaS stickiness. Severity: medium
  • Well-capitalized NoBrokerHood could underprice SaaS using cross-subsidy from brokerage revenue. Severity: high
  • Leadership churn including 2024 CEO transition and 2026 cofounder-designate departure. Severity: medium
  • Reputational and regulatory exposure over surveillance features amid tightening biometric privacy scrutiny. Severity: medium
Rivals, as read in July 2026
RivalDirectionEvidence
NoBrokerHoodcontestingBacked by $200M+ funded NoBroker, direct rival in society management as of Aug 2023
ApnaComplexcontestingCompetes on gate security, accounting, and community features in India
ADDAcontestingCompetes on society-ERP and billing features in Indian residential niche
Questions people ask
Is MyGate profitable in 2026?
No. MyGate posted a net loss of about ₹15.3 crore in FY25 on revenue of ₹186.7 crore, and FY26 revenue is reported at roughly ₹230 crore (up 23% YoY). Management guides for PAT-positive status only starting FY27, alongside a 37% YoY growth target, as of June 2026.
Who is MyGate's biggest competitor?
NoBrokerHood, part of the NoBroker ecosystem which has raised over $200 million, is MyGate's closest direct rival in Indian gated-society management, per an August 2023 Rest of World report. ApnaComplex and ADDA also compete on the same gate-security and society-ERP feature set.
Could AI replace MyGate?
Only partially. AI could commoditize visitor chatbots, messaging, and billing reconciliation, but cannot replicate MyGate's physical smart-lock hardware, guard and RWA relationships across 25,000+ societies, or its IRDAI insurance-distribution licence obtained in May 2024, per company disclosures.
Who owns MyGate?
MyGate is privately held and venture-backed, with investors including Tiger Global, Prime Venture Partners, Tencent, Acko, Urban Company, and Dharana Capital, which led a ₹225 crore round closed June 10, 2026, at a ₹2,000-2,200 crore valuation.
How fast is MyGate growing?
Growth has decelerated sharply: revenue rose 77% in FY23, 35% in FY24, 71% in FY25 to ₹186.7 crore, then slowed to about 23% YoY in FY26 to roughly ₹230 crore. Management is guiding for 37% YoY growth and PAT-positive status in FY27, per June 2026 reporting.
Has MyGate raised new funding recently?
Yes. MyGate closed a ₹225 crore (about $23.6 million) round from Dharana Capital on June 10, 2026, combining primary capital and a secondary sale, valuing the company at roughly ₹2,000-2,200 crore, up from ₹1,600-1,700 crore in 2023.
Timeline
  • 2026-06-10Closed ₹225 crore round from Dharana Capital at ₹2,000-2,200 crore valuation
  • 2025-06CBO Rohit Jindal elevated to cofounder
  • 2024-09Launched MyGate Locks smart door-lock hardware line
  • 2024-05Entered insurance distribution via IRDAI aggregator licence with Acko
  • 2024-04ESOP buyback for employees with 4+ years tenure, 20% of vested shares
  • 2024Vijay Arisetty steps down as CEO, becomes chairman, later founds Aurm
  • 2023-08-14Rest of World reports bias/surveillance concerns over domestic-worker tracking
  • 2016Founded in Bengaluru by Vijay Arisetty, Abhishek Kumar, Shreyans Daga
Revision history
30 July 2026
First assessed. Protection under test. The text above is fixed as of this date and is not edited afterwards.
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