MyGate raises Rs 100 crore in new round led by Urban Company, Acko

The company last raised a $56 million Series B round from Tencent, Tiger Global, and others in October 2019.

Hyderabad: Apartment management solution provider MyGate has raised Rs 100 crore in a new round co-led by Urban Company and Acko. Each invested Rs 50 crore, said reports suggesting that the company has been valued at Rs 1,700 crore post allotment.

The company last raised a $56 million Series B round from Tencent, Tiger Global, and others in October 2019.

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Earlier, MyGate announced the strategic partnership with Acko and Urban Company. It had said that the two will infuse capital to acquire a minority stake in the company. Acko will partner with the company to extend security while Urban Company will bring home services to MyGate’s users.