MyGate founder Vijay Arisetty has transitioned from his erstwhile advisor role to the role of CEO and founder at Aurm
Aurm, which counts former Flatheads founder Ganesh Balakrishnan as its founder, plans to partner with banks to offer safe deposit storage space to individuals
Shortly after Aurm's launch in February, Arisetty stepped aside from the CEO role at MyGate and took up the role of the chairman of the startup’s board
Fintech startup Aurm, launched by former Flatheads founder Ganesh Balakrishnan, has seen a rejig at its top deck, with MyGate founder Vijay Arisetty transitioning from his erstwhile advisor role to the role of CEO and founder at the startup launched earlier this year.
Cofounder Balakrishnan will be taking up the role of head of marketing at Aurm. Ex-MyGate executives Suraj HS and Pratap Chandana will serve as the other two cofounders, helming growth and tech, respectively.
Speaking with Inc42, Balakrishnan said that the addition of Arisetty to Aurm’s C-suite in a permanent role will solidify its growth plans. He believes Arisetty’s extensive contacts within the real estate industry and banks opens up paths for Aurm to build more partnerships.
“Vijay’s credentials are exactly what Aurm needs to build a robust asset protection company. His experience in understanding safety, security and risk are important aspects for the core business. He has built and sold products and services as part of MyGate to our target audience, so his entrepreneurial experience is highly relevant for Aurm’s future growth,” he said.
Aurm aims to enhance security and optimise customer experience when interacting with locker services for storing valuables such as gold.
Earlier, Balakrishnan said that the startup plans to partner with banks to offer safe deposit storage space (lockers) to individuals in residential communities via its state-of-the-art facilities.
While Balakrishnan, Suraj HS and Chandana have been critical in laying down the foundation for the startup, the ex-Flatheads founder credited Arisetty to be the creator of Aurm.
Shortly after Aurm’s launch in February, Arisetty stepped aside from the CEO role at MyGate and assumed the position of chairman at the startup’s board. As he took the role of chairman of the startup’s board, cofounder and chief operating officer Abhishek Kumar was elevated to the role of CEO.
Arisetty, Kumar, Shreyans Daga and Vivaik Bharadwaj founded MyGate in 2016. The startup provides security solutions for apartment complexes at entry and exit gates. It also offers other security-related systems such as RFID cards, biometrics and vehicle stickers.
Arisetty stepped down from the CEO position at MyGate when it was heading towards profitability. In December last year, the startup claimed that it achieved “zero cash burn” in November last year.
