Urban Company and Acko invest INR 100 Crores in MyGate

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Spice Route Legal was pleased to advise Urban Company (India’s largest service-based e-commerce platform) and Acko (one of India’s most premium insurance companies), on their investment of INR 100 crores into MyGate. MyGate is a Bangalore-based startup that has now become one of India’s most prominent security management apps, and is installed in over 3.9 million gated communities across India, as of today.

The investment also serves as a strategic partnership between the three companies, wherein Urban Company will bring an array of its services to MyGate users directly on its app, and Acko will extend security and protection solutions to MyGate. Furthermore, this partnership will help Urban Company draw a deeper understanding of gated communities, unlock new consumer demand channels, provide opportunities to innovate on its product offerings to service gated communities, and consequently strengthen its presence in most cities.

Our team, led by Mathew Chacko and comprising Nikhil Joseph, Divya Upreti, and Raksha HR advised on this deal.

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