Abhishek Kumar, CEO and co-founder of security management platform Mygate, told NDTV Profit in a tete-a-tete that the growing trend of gated societies sparked the idea for the company. Kumar discussed the genesis of the application and how it came to be what it is today. "Living in gated communities has emerged as a trend," he said, adding, "safety and security are key reasons people choose to stay in gated communities."
With everyone from the world outside seeking entry to these gated communities to deliver goods and services, the gate of the gated communities was turning into a "point of friction" or "choke point, Kumar said.
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"That was the unique insight that got us excited and led us to start Mygate," he said. Kumar also delved into his journey before starting Mygate, including his stint in the United States. "I always wanted to move back to India," he said, adding, "In 2009, I said if I don't decide to move back to India now it will be very late."
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According to Kumar, the seeds for Mygate were sown in Goldman Sachs, where he and one of the other co-founders, Vijay Arisetty, used to work. Arisetty, who was formerly in the army, observed that security was being compromised since gated communities had became "a theatre of commerce."
He came up with the idea of Mygate, and shared it with Kumar. "The boom of quick commerce is being built around gated community clusters. Those were the trends that got us excited and drove us to quit our jobs," Kumar said.
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