Tekion, established by Jay Vijayan, has recently hit the record and become the next unicorn. Previously took part in major corporates, Vijayan has now become the owner of a rising company. Vijayan and Tekion’s fresh advancement brought a lot of attention and interest from other companies, and he hopes to grow bigger in the future.
A glimpse of the man behind Tekion: Jay Vijayan
Jay Vijayan, the founder and chief executive of Tekion, is a man with a remarkable reputation in the technology industry. Previously, Vijayan was Tesla‘s chief information officer (CIO). Vijayan was nearly Tesla’s chairman and CEO’s, Elon Musk, right hand. During Vijayan’s four year career in Tesla, Vijayan was responsible for all digital and information technology systems development.
Vijayan also has years of experience working in Oracle and VMWare. Vijayan took part in technology platforms and solution for business scale in both companies.
Tekion, when cloud technology meets the automotive industry
Tekion is a cloud technology company that targets the automotive industry. Launched in 2016 with all Indian core member team, Tekion focused on offering end-to-end dealer management system. The offered system, Automotive Retail Cloud (ARC) platform, acts as a bridge between vehicle manufacturers, dealers and car buyers.
Vijayan, as quoted from Mint, received the inspiration to build Tekion from personalized retail that he experienced from platforms like Amazon, Apple, Google, and Disney. He decided to bring a similar experience to the automotive industry. He believes Tekion will be “the trailblazer for enabling the modernization of the entire consumer journey and providing best experiences and operational efficiencies”.
Though Tekion has a strong connection to India, the company has not yet offered its service in the country. However, Tekion’s APAC headquarters and development centre is located in two separate cities in India. Most research and development of the company’s technology also occur in the country.
How Tekion become the next unicorn
Quoted from Mint, Tekion successfully raised $150 million and becomes the next unicorn company only upon its fourth year of operation. The fund is a part of its Series C financing held by Advent International round with over $1 billion valuations. Tekion had also received funding from numeral influential companies such as Exor, Airbus Ventures, BMW iVentures, Nissan-Renault-Mitsubishi Alliance Ventures, and so on.