Bengaluru is Home to Tekion's New Office for Automotive Software

Supported by former Tesla Chief Information Officer Jay Vijayan, Tekion is an automotive software platform that has relocated to a larger, modern facility in Bengaluru. According to a January 6 press release, the cloud-native platform that supports the automotive retail ecosystem also intends to hire over 300 experts in product, design, and engineering jobs.

Some of the top car dealers in the US, Canada, and the UK use the California-based company, which has onboarded more than 52 original equipment manufacturer (OEM) brands on its platform, according to the company. The platform connects OEMs (automotive assembly), merchants (car dealers), and customers through the utilisation of big data, machine learning, and artificial intelligence (AI).

Scaling its Operations and Product Portfolio

Tekion's CTO, Binu Mathew, stated that the company would keep using the top talent to revolutionise the retail automobile industry. More than 300 AI, engineering, design, and product management specialists are joining the company worldwide, particularly in India. To enable rapid growth, accelerate AI-based disruption of old business processes, and solidify its position as the industry's innovation leader, the company is increasing its product, technology, and AI infrastructure, according to Mathew.

In order to accommodate up to 2,300 people, Tekion has leased 240,000 square feet of office space in Bagmane Solarium City, Brookfield. Nearly 3,000 people work for Tekion in North America, Asia, and Europe. Founded in 2016, Chennai is the regional hub, and Bengaluru is the APAC headquarters. The business reported receiving $200 million in growth equity finance from Dragoneer Investment Group in 2024, increasing its valuation to more than $4 billion. The funding announcement came after Tekion's 2023 performance, which saw a 97% year-over-year increase in run rate revenue. By the end of 2023, it had generated over $100 million in revenue.

Foreign-Incorporated Businesses are Returning to India

Many Indian firms have been exploring or are already moving their headquarters to India over the years, including Razorpay, Pine Labs, Zepto, Meesho, and Udaan. In 2022, PhonePe, which has its headquarters in Bengaluru and is supported by Walmart, moved from Singapore to India. For the startup's investors, this action had a significant tax impact of around $1 billion, which Walmart mostly paid for.

India has launched a number of focused programs and initiatives in response to the country's recognition of the need for greater ease of doing business and the critical role that startups play in promoting innovation. Seed capital and subsequent credit needs are supported by the Fund of Funds for Startups and Credit Guarantee Scheme. 

OYO Updates Check-In Policies to Restrict Unmarried Couples

OYO has updated its check-in policies, barring unmarried couples from entering, reflecting a significant change in its accommodation rules.

StartupTalkyNitin Konde