The Neon Show Building a Category Creating Startup in India ft Vijay Arisetty, Founder & CEO, MyGate
Jul 31, 2022
59:12
In startup ecosystem a lot of people talk about Category creating startups, but it is equally difficult and as it sounds glamorous and exciting.
That’s possibly the reason why we don’t see a lot such Category creating startups around us very frequently. And even if they do come up, they don’t sustain very long.
In today’s episode we are talking with Vijay Arisetty, Founder, MyGate, i.e. a category creating startup in its space.
As of now MyGate cators to almost 4 Million+ homes across India. It is very likely that you would have interacted with MyGate directly, as its installed in your society or indirectly probably when you would have visited to meet a friend or family in a gated community, and you would have experienced the seamless flow it brings to gates of these gated communities.
During the episode, catch Vijay sharing what all challenges and opportunities did they come across being a category creating startup in terms of hiring, what to offer to its customers, how to monetize better and much more.
Notes -
01:51 - Intro
03:11 - Family Background and joining the Armed Forces
06:55 - His first startup - PurpleRoad in the Delivery space
08:19 - Aha moment which led to starting MyGate?
11:53 - Final Scale with his logistics startup and initial scale at MyGate before first funding
14:48 - Challenges during the first funding round being a category creator
21:25 - Zoho Sponsored – Prashant Ganti on Where do founders struggle with Payroll and how can they fix it?
23:13 - Current and operationally capable scale of MyGate
24:56 - Evolution of monetary channels
29:48 - Challenges during their 0 to 1 journey and then in 1 to 10 journey
37:36 - Existential crisis prior to first round of funding
42:13 - Journey from Series A to Series B and beyond
44:55 - How were the two years of Covid for MyGate?
49:02 - Similarities between being in the Armed Forces and being an Entrepreneur
54:08 - 30 Million homes untapped market by MyGate
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