Tekion, a US-headquartered SaaS unicorn focused on the automotive segment, will expand its operations in India with a major part of this expansion based out of Bengaluru.
Tekion has taken up 240,000 square feet of space in Bengaluru which can accommodate up to 2,300 employees. Founded in 2016, this startup has around 3,000 employees globally spread North America, Asia and Europe. The majority of its employees are based in India spread across the locations of Bengaluru and Chennai, with the former serving as the APAC headquarters.
“We will continue to leverage the best talent to transform automotive retail. We are increasing our AI, engineering, design, and product management professionals by over 300 globally, especially in India,” said Tekion CTO Binu Mathew.
Tekion founder & CEO Jay Vijayan
According to a statement, Tekion is experiencing significant growth with over 52 OEM brands now onboarded on its Automotive Retail Cloud (ARC), a retail platform that connects the OEMs (automotive assembly), retailers (vehicle dealers), and consumers (vehicle buyers).
The key markets for Tekion have been the United States, Canada and Great Britain.
In 2024, the startup secured $200 million in growth equity capital from Dragoneer Investment Group. Led by founder and CEO Jay Vijayan, Tekion has cumulatively raised $640 million till now.
Tekion noted that it registered 97% year-over-year annual recurring revenue growth in 2023. This was achieved through expanding partnerships in the industry with over 2,000 automotive dealers, multiple leading-brand OEMs, and over 250 ecosystem technology partners.
