What does this new MyGate logo mean?

A good example of marketing VPs with zero design skills saying “kuch unique dikao” and “how is this different” to the point the brand/logo becomes incomprehensible

It's a "m" and a horizontal "g"

MyGate rebrands itself as the “Living Experience Tech Company”. The company initially started with the goal of improving everyday life, which is what the rebranding has done successfully. The way of improving everyday life aligns the brand with the evolving offerings of MyGate. The brand also ensures to cater to the evolving needs of the 4 million people that it serves. Since its inception in 2016, the company has been linked to technological innovation in the community. MyGate allows users to find local service providers. It also gives users access to various classified platforms as well as provides a range of home services. With living experience technology, MyGate focuses away from administration apps and towards improving the living standards of residents.

Anybody know it, pls comment.. I am curious

Looks like a qr code