MyGate, has Laid Off 30 Percent of its Employees as Part if a Cost-Cutting Exercise


Community and security operation incipiency MyGate has reportedly laid off 30 of its  workers, getting the rearmost incipiency to fire workers amid the ongoing backing downtime. A correspondence transferred to the incipiency inquiring about the layoffs didn’t admit any response till the time of publishing this story. Also, the layoffs have affected mainly mid-manager level and junior-level employees across ground operations and community engagement platform verticals.

Founded in 2016 by Vijay Arisetty, Shreyans Daga, and Abhishek Kumar, MyGate app provides staff attendance, complaint management, paying maintenance, and communication services for resident welfare associations through its SaaS product. The story would be  streamlined on entering a response from MyGate. Innovated in 2016 by Vijay Arisetty, Vivaik Bharadwaj, Shreyans Daga and Abhishek Kumar, MyGate offers security  results for apartment complexes at entry and exit gates. It also offers other security- related systems similar as RFID cards, biometrics and vehicle stickers.

MyGate, through its mobile app, offers colourful services similar as caller, delivery and  diurnal help operation along with child security to individual residents. According to a company prophet, MyGate is laboriously expanding its brigades in certain areas and performing well despite recent layoffs. The  prophet stated that the company maintains a high-performing culture and occasionally lets go of workers who aren’t a good fit or if circumstances bear it. MyGate, innovated in 2016 by Vijay Arisetty, Shreyans Daga, and Abhishek Kumar, has raised nearly $ 80 million through multiple backing rounds, according to data from Tracxn.

In November 2022, the company secured $12.2 million in a Series B backing round with Acko, an insurance establishment, and Urban Company, a original services platform, as the  supereminent investors. The company was valued at $ 195 million after the backing. In December 2021, MyGate acquired MyCommunity Genie, a Bengaluru- grounded community commerce platform, in a cash and equity deal.