Home security tech startup MyGate raises Rs 400 cr in series B funding

The firm processes over 60,000 requests per minute and facilitates over 45 million check-in requests every month to help apartments manage visitors, including guests, as well as deliveries and cabs

MyGate, a company which provides technology to enhance security and convenience for residents in gated premises has raised $56 million (about Rs 400 crore) in series B funding. The investment has come from Chinese internet giant Tencent Holdings, US-based JS Capital LLC, Tiger Global Management alongside existing investor, Prime Venture Partners.

MyGate plans to use the funding to create innovative solutions for eliminating friction in interactions between the home and the outside world and providing convenience and security to its users. The funds raised would also help the firm focus on increasing the efficiency of other stakeholders such as security personnel,