Community management app MyGate enters consumer space with smart door locks
consumer devices on Tuesday with the introduction of Mygate Locks, a range of smart door locks to offer home security with digital convenience.
The Mygate Locks will enable users to go keyless and manage home access remotely. It includes features such as remote unlocking using OTP, end-to-end data encryption, simple user management, real-time notifications, and integration with the existing app for gated communities.
This entry into the consumer electronic segment, available to users across India, marks an expansion of its product offerings beyond its core software solutions.
“Our vision at Mygate is to push the boundaries of innovation to enhance everyday living continually. We are excited by the expanded scope the consumer devices market offers and are happy that now our offerings would be available to everyone in the country, regardless of whether they are on the Mygate app,” said cofounder and chief executive Abhishek Kumar.
The company plans to build a comprehensive ecosystem of smart home products to meet the growing needs of urban residents for connectivity, automation, and space management.
Founded in 2016 by Kumar, Vijay Arisetty and Shreyans Daga, the company last raised Rs 100 crore in a funding round co-led by Urban Company and Acko in 2022. Its community management app is currently used by more than 4 million residents across 25,000 housing societies in India.
According to the company, it has clocked a revenue of more than Rs 100 crore in FY24, up around 35% from Rs 77 crore revenue in FY23. The
