Latest news with #MyGate
India.com
14 hours ago
- Business
- India.com
Meet Man Who Left Goldman Sachs To Become Security Guard, Later Joined An IAF Pilot to Build Rs 16,70,00,00,000 Company — Know Who He Is...
photoDetails english 2930652 MyGate Success Story: Industrialist Harsh Goenka recently shared the amazing story of Abhishek Kumar, an IIT Kanpur graduate who gave up a high-paying job to become a security guard. But this was no ordinary job switch. Abhishek worked 14-hour shifts in uniform to deeply understand how security works in Indian gated communities. People thought he was just another guard. No one knew he was actually building something big—MyGate. Today, MyGate is used by over 4 million people in 25,000 housing societies. It handles more than 100 million check-ins every month and has helped 1.2 million security guards switch to digital tools. Abhishek didn't do this alone. He teamed up with Vijay Arisetty, a former pilot and war veteran, and Shreyansh Daga, a tech expert from IIT-Guwahati and ISB. With their combined knowledge from top Indian institutions, the trio turned a simple idea into one of India's leading community apps. From guarding gates to guarding homes with smart tech—MyGate has changed the way India lives. Updated:Jul 12, 2025, 12:37 PM IST From Goldman Sachs To Guard Duty 1 / 8 Abhishek Kumar, an IIT Kanpur alumnus and former Goldman Sachs executive, took up 14-hour shifts as a security guard. His goal wasn't employment—it was deep, firsthand research into the problems faced by security staff at gated communities. Abhishek Kumar- A Actual Security Guard 2 / 8 Residents believed Abhishek Kumar was an actual guard. His research was so immersive that no one suspected he was on a mission to disrupt the security ecosystem and later lead India's top gated community management app—MyGate. Founding Of MyGate In 2016 3 / 8 In 2016, Abhishek Kumar teamed up with Vijay Arisetty, a former Indian Air Force (IAF) pilot who received the Shaurya Chakra for saving hundreds of lives in Andaman & Nicobar Islands in the 2004 tsunami, and Shreyansh Daga to launch MyGate—a platform designed to manage visitor entry, maintenance, housekeeping, and security services in Indian housing societies using smart, digital solutions. MyGate: Reaching Millions of Homes 4 / 8 Today, MyGate is trusted by over 4 million residents across 25,000 housing communities. The platform handles more than 100 million digital check-ins each month, ensuring streamlined and secure access for visitors and service providers. MyGate: Rs 100 Crore Funding Boost 5 / 8 In 2022, MyGate secured ₹100 crore in a funding round led by Urban Company and Acko. The funding supported the platform's growth, innovation, and expansion into new areas like home automation and smart security. MyGate: Launch of Smart Locks in 2023 6 / 8 In September 2023, MyGate stepped into the smart home segment with 'MyGate Locks'—a range of smart door locks aimed at enhancing digital security for Indian households, further expanding the company's product portfolio and impact. Strong Financial Turnaround 7 / 8 MyGate's revenue jumped from ₹77 crore in FY23 to ₹109 crore in FY24. Impressively, its net losses also reduced drastically from ₹227 crore to just ₹39.7 crore, showing improved operational efficiency and growth. Abhishek kumar's MygGate Valuation Milestone 8 / 8 The three co-founders—Kumar, Arisetty, and Daga—now hold a combined 24.83% stake in MyGate. The company is currently valued at Rs 1,670 crore (around $200 million), according to startup data platform Tracxn.
Indian Express
6 days ago
- Business
- Indian Express
Shelter struggles: Why many students in Pune are opting for luxury hostels
Written by Kivi Lydia Vito, Riddhi Berry An increasing number of students and working professionals in Pune are opting for high-end luxury hostels as a preferred alternative to traditional accommodations. These accommodations offer fully furnished rooms, meal plans, gyms, and vibrant common areas, often located in gated communities with 24/7 security and app-based check-in systems. They combine comfort, safety and a sense of independence, making them a popular choice. Several companies in Pune offer such luxury accommodations, including Cozmo Living and Tribe Stays. Both provide single and twin-sharing rooms for boys and girls. At Cozmo Living, twin-sharing rooms start at Rs 18,000 per month, while single rooms begin at Rs 38,000 per month. Tribe Stays offers both twin-sharing and private single rooms for students, with prices ranging from Rs 40,000 to Rs 42,000 per month. Kaif Shaikh, a 16-year-old boy preparing for the IIT-JEE, says that the amenities at Cozmo Living in Viman Nagar add to the comfort and ease of his daily routine. 'We have access to the swimming pool and gym in the society as part of the accommodation, and there are air conditioners in the rooms as well, so I prefer living here instead of other PGs or hostels.' The apartments and rooms, part of these accommodations, come fully furnished with specifically catered meal plans as well. This focus on comfort and convenience is echoed by Prateek Garg, co-founder of Cozmo Living and a graduate of Symbiosis University. Based on his own experience as a student in Pune, he said, 'We did not really have good quality rooms and had to worry about little things like cooking and cleaning, instead of focusing on our careers and studies. This is what inspired us to build a space where students could focus on their futures and let us deal with the small stuff.' Along with comfort and amenities, safety plays a major role in the appeal of luxury PGs, Sakshi Jaiswal, who is originally from Ranchi and currently working in Pune, says, 'Personally, for me, I think it is safer than normal PGs. There is a MyGate facility (a community and security management platform designed for gated communities) because the apartments are in a proper housing complex. So, the entries of every person can be backtracked because every detail is recorded.' Operators of such premium accommodations also emphasise the role of technology in enhancing resident safety. 'Our app-based check-in is not just about convenience, it is built for accountability and safety. Every resident is digitally verified before moving in and grievances can be raised through the app as well. This ensures we always know who is on the premises, which adds a strong layer of security without compromising anyone's safety,' says Malika Kandru, marketing manager at Tribe Stays. She continues, 'Security is something we never compromise on. We have guards stationed at every entrance of our living spaces, and we maintain clear boundaries where boys cannot access girls' spaces and vice versa.' Some students also feel that the environment created by such living spaces is more interactive and enjoyable than that of university hostels. Yash Joshi, a management student at Symbiosis University who lives in Tribe Stays, says, 'We have a common area and café where everyone who stays here can hang out and chill. In the university hostels, we need to be back by 8 or 9 pm, even on weekends, but here we don't have such restrictions, so most students prefer to live outside.' Although the prices of these luxury co-living spaces are slightly on the higher side, many students still prefer them over regular hostels and PGs. Shilpa Aditya, a management student at Symbiosis University who lives at Tribe Stays, says, 'It is much more comfortable living here than in the university hostel. We get AC rooms, the food is better, and there are vending machines, so we can grab something to eat at any hour. There is no curfew either, which makes it much more convenient for us.' This growing preference for comfort and flexibility over cost is also reflected in how student housing is evolving. Kandru, speaking from the organisational side, notes the rising interest in such accommodation. 'There is a clear shift in how students and even their parents are approaching housing. The demographic for our living space is from 18–24, and there is a demand for premium living that combines comfort, safety, and independence,' she says. Kivi Lydia Vito and Riddhi Berry are interns at The Indian Express.
India.com
03-07-2025
- Business
- India.com
Meet man, who once worked as security guard in 14 hours shift, now owns Rs 1090000000 company named as…, he is…
Harsh Goenka recently shared a story of Abhishek Kumar, who is an IIT graduate. He built a security and community management app, Mygate. This app now provides services to over 4 million residents in 25,000 Indian housing societies and has 100 million monthly check-ins. Who Is Abhishek Kumar? He is an IIT graduate and former Goldman Sachs executive. He once worked as a security guard and co-founded MyGate . Goenka revealed that Kumar once worked 14-hour shifts as a security guard to understand their problems. He got an idea that later became the company 'MyGate'. 'In 2016, IIT grad & ex-Goldman exec Abhishek Kumar became a security guard working 14-hour shifts. That experience of understanding pain points led to his creating MyGate: now in 25,000+ communities, 100M+ check-ins/month,' the chairman of RPG Enterprises Harsh Goenka posted on X. He added, 'Moral: To build for others, first walk in their shoes.' Foundation Of MyGate It was founded in 2016 by Abhishek Kumar, Vijay Arisetty, and Shreyans Daga. MyGate manage visitor access, security, maintenance, housekeeping, and other daily services through an app. The MyGate platform is now used by over 4 million residents in 25,000 housing societies in India and has more than 100 million check-ins every month. In 2022, MyGate raised Rs 100 crore in a funding round co-led by Urban Company and Acko. MyGate's Revenue The company reported revenue of Rs 77 crore in FY23 which increased to Rs 109 crore in FY24. According to Tracxn, its net losses narrowed from Rs 227 crore in FY23 to Rs 39.7 crore in FY24. In an interview, Kumar revealed that the company is targeting revenue of 165 crore in FY25. It has also been diversifying its business into new segments like insurance distribution. The company received an aggregator license from the Insurance Regulatory and Development Authority of India (IRDAI) to sell insurance products. In September 2023, MyGate also entered into the consumer electronics space by launching MyGate Locks.
Time of India
03-07-2025
- Business
- Time of India
'He worked as a security guard': Harsh Goenka shares inspiring story of MyGate founder Abhishek Kumar
Industrialist Harsh Goenka took to X (formerly Twitter) today to share the inspiring journey of Abhishek Kumar , co-founder of the security and community management app MyGate . Goenka revealed that Kumar, an IIT graduate and former Goldman Sachs executive, once worked 14-hour shifts as a security guard — an experience that later became the foundation for building MyGate. 'In 2016, IIT grad & ex-Goldman exec Abhishek Kumar became a security guard working 14-hour shifts. That experience of understanding pain points led to his creating MyGate: now in 25,000+ communities, 100M+ check-ins/month,' the chairman of RPG Enterprises posted on X by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Belly Fat Removal Without Surgery in Morocco: The Price Might Surprise You Belly Fat Removal | Search Ads Undo He further added, 'Moral: To build for others, first walk in their shoes.' — hvgoenka (@hvgoenka) Live Events Founded in 2016 by Abhishek Kumar, Vijay Arisetty, and Shreyans Daga, MyGate helps residents of gated communities manage visitor access, security, maintenance, housekeeping, and other daily services through a unified app. The MyGate platform is now used by over 4 million residents across 25,000 housing societies in India. It facilitates more than 100 million check-ins every month. In 2022, MyGate raised Rs 100 crore in a funding round co-led by Urban Company and Acko. In a previous interview, Kumar shared that the company is targeting revenue of ?165 crore in FY25. MyGate has also been diversifying into new verticals, including insurance distribution. The company secured an aggregator license from the Insurance Regulatory and Development Authority of India (IRDAI) to sell insurance products. In September 2023, MyGate ventured into the consumer electronics space with the launch of MyGate Locks — a range of smart door locks offering digital home security. The company's revenue rose from Rs 77 crore in FY23 to Rs 109 crore in FY24. According to Tracxn, its net losses narrowed significantly from Rs 227 crore in FY23 to Rs 39.7 crore in FY24.
Time of India
22-06-2025
- General
- Time of India
Local faults lead to outages and tripping in Ghaziabad societies
Ghaziabad: Residents faced severe power disruptions over the weekend, with Siddharth Vihar Prateek Grand City experiencing a five-hour outage on Sunday. Golflinks Landcraft Township on NH9 endured a 20-hour power cut till Saturday due to local faults "The power supply was disrupted from 2am on Sunday. Tired of too many ads? go ad free now While the supply resumed around 7.20am, even after that, it kept tripping due to no changeover. In one tower, there was no fan or light in the lift, while for nearly 5 hours, a power backup supply was given, which cost Rs 22 per unit," NK Negi, a resident of Prateek Grand City at Siddharth Vihar, told TOI. The township has nearly 12,000 residents living in the complex across 3,000 units. The maintenance staff informed the residents via MyGate notification that the power supply from the Siddhartha Vihar substation failed at 2.10am early Sunday morning. "The supply was given to the society through a DG set at night. The UPPCL engineer was called at night, and he checked the fault in the line. A fault was later found in the substation line was checked, this took time in repairs," said the society estate manager's notice. The supply, which resumed around 7.20am kept tripping, and the power backup and changeover process continued until 7.40am. Later on Sunday, around 4pm, yet another outage occurred, this time, a shutdown notice was issued by the area substation. The notice issued by the estate manager of Prateek Grand City Siddharth Vihar stated that due to the UPPCL substation maintenance work on Sunday, the supply of the main grid will be disrupted . Similar was the situation in the Golflinks Landcraft Township on National Highway-9, Ghaziabad, where more than 4,000 families faced over 20 hours of outage.
