Bengaluru-based MyGate's revenue up 4 times to ₹6 cr in FY19

MyGate, the Bengaluru-based security management service for guard-gated apartments, registered nearly 4 times growth in operating revenue in FY19 to ₹5.83 crore from ₹1.51 crore in FY18, its annual report revealed. Its losses jumped to ₹25.33 crore from ₹2.73 crore. Among other expenditures, the startup spent ₹1.3 crore on advertisement and promotions, 7.6 times up from ₹17.12 lakh in FY18.