The Ledger
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Indian gate management platforms must be asset-light, not hardware-heavy
“In India, if you have to build efficient gate management or efficient platforms anywhere, there is a lot of validation that needs to take place, right? You need to build, you know, asset-less you know, platforms.”
MyGate has onboarded 25,000 gated communities and 4 million homes
“We have onboarded, you know, we have onboarded 25,000 gated communities, right? And we have built the operational scale and capability, right? And muscle to onboard one million. And this 25,000 gated communities host close to four million homes.”
MyGate scaled from 40 to 600 gated communities in eight months
“When we raised money from Prime, we were at 40 Gated Communities. And then in a span of six months, right? We went from 40 to 600 gated communities, right? I would say not six months, but almost seven to eight months, right? We went to 600 gated communities.”
MyGate ran up to 40 different product configurations during COVID lockdowns
“During COVID, the MyGate was operating, I would say, almost in 30 to 40 different configurations.”
MyGate ARR reached early double-digit millions by August 2022
“So revenue, I would say that we are in early two digit you know, two digit million ARR as of today.”
MyGate saw viral network effects only after crossing 10,000 homes
“And once we crossed 10,000 homes, right? That was close to 200 202 150 communities. Then we started seeing actually, you know, some signs of viral effects, right?”
MyGate shared 20 crore INR with housing societies in one year
“And that actually is, you know, in the last one year, we have shared revenue, almost 20 crore worth of you know, value with these you know, management committees. When I say management committees actually goes to the society account and not to the individual's…”
MyGate opened APIs to e-commerce companies after reaching 6,000 communities
“We were charging the gated communities, a license fee, monthly license fee, right? And that has helped us to reach almost a scale of, you know, 6000 communities. And that's when we opened up our APIs for all these you know e-commerce companies, right?”