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News on Medial
Former Tesla CIO Jay Vijayan founded Tekion raises $200 million in funding
IndianStartupNews
·
1y ago
Medial
California-based automotive retail platform, Tekion, has secured $200 million in growth equity funding from Dragoneer Investment Group. With this latest round, Tekion's valuation has surpassed $4 billion. The company, founded by former Tesla CIO Jay Vijayan in 2016, offers a cloud-native platform designed to enhance the automotive retail experience. The funding will be used to expand Tekion's product offerings, accelerate implementation timelines, and improve customer support. Tekion has experienced significant growth, reporting a 97% YoY increase in annual recurring revenue in 2023. The company has partnered with over 2,000 automotive retailers and 250 technology partners.
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Tekion Corp raises $200 million in funding at valuation of over $4 billion
Economic Times
·
1y ago
Medial
California-based automotive retail technology provider, Tekion Corp, has secured $200 million in funding from Dragoneer Investment Group. The investment puts the company's valuation at over $4 billion. Tekion plans to use the funds for product expansion, accelerating development, and improving customer service. It currently partners with over 2,000 automotive retailers and 250 ecosystem technology partners. The company, founded by former Tesla executive Jay Vijayan, has raised a total of $640 million to date from investors including General Motors and BMW I Ventures.
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Tesla sues former Optimus engineer over alleged trade secret theft | TechCrunch
TechCrunch
·
1m ago
Medial
Tesla has filed a lawsuit against former engineer Zhongjie "Jay" Li, accusing him of stealing trade secrets from its Optimus humanoid robotics program. Li allegedly downloaded confidential information on robotic hand sensors and used it to launch Proception, a startup backed by Y Combinator, which closely mirrors Tesla's designs. The complaint highlights Li's activities of researching humanoid robotic hands and startup funding before leaving Tesla and founding Proception shortly after.
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The Bot Company, Kyle Vogt’s robotics startup, valued at $2 billion
Economic Times
·
4m ago
Medial
The Bot Company, a robotics startup co-founded by ex-Cruise CEO Kyle Vogt, has raised $150 million, valuing it at $2 billion. The funding was led by Greenoaks. The startup focuses on non-humanoid robots for everyday tasks. Vogt co-founded the company with former Tesla and Cruise engineers. The latest round follows a previous $150 million raise. Vogt's resignation from Cruise came after an incident involving a Cruise vehicle. Meta also explores AI-powered humanoid robots for chores.
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Atomicwork closes Seed round at $14 Mn
Entrackr
·
10m ago
Medial
B2B SaaS startup Atomicwork has raised an additional $3 million in its seed round from Abhinav Dhar, ex-CIO of TransUnion, Prasad Ramakrishnan, CIO and technology leader, Avanish Sahai, former ecosystem leader at Salesforce, ServiceNow, and Google Cloud and Rich Waldron, CEO of Tray. The firm’s existing investors like Storm Ventures, Z47 (formerly Matrix Partners), Blume Ventures, and Neon Fund also participated in the round. This is the second tranche of its seed round. In September last year, Atomicwork had raised $11 million led by Blume Ventures and Matrix Partners India. With this, the total funding for the startup stands at $14 million. The proceeds will be used for enterprise AI agent technology, fuel the firm’s GTM team expansion in the United States over the next three years, the company said in a press release. Founded in September 2022 by Vijay Rayapati, Kiran Darisi, and Parsuram Vijayasankar, Atomicwork provides software that automates workflows under the information and technology (IT), human resources (HR), finance, and other business functions. It helps companies instantly help their employees by collecting tribal knowledge from across the organization – stored in docs, wikis, information systems, email threads, and chat conversations. Previously, Rayapati had founded Minjar which raised $2 million before getting acquired by US-based publicly-listed cloud infrastructure company Nutanix for about $50 million. Blume also invested in Minjar’s initial funding round. Darisi and Vijayasankar were part of the founding team of SaaS unicorn Freshworks.
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DevOps startup Facets.cloud raises $4 million in funding
Economic Times
·
1y ago
Medial
Facets.cloud, a self-serve infrastructure management platform, has secured $4 million in seed funding led by 3one4 Capital. The platform simplifies cloud deployment workflows, enhancing developer productivity. Other investors include Neon, former 100x Entrepreneurs, and angel investors such as Postman CEO Abhinav Asthana. The startup was founded by former executives from Capillary Technologies and aims to use the funding to expand in the US market, promote platform engineering, and enhance product offerings. Facets.cloud currently serves clients like Mobile Premier League and Treebo.
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BluSmart raises ₹200 crore from MS Dhoni's family office, others
Internet
·
1y ago
Medial
Ride-hailing EV startup BluSmart has raised $24 million (₹200 crore) in Series B funding round led by former India cricket captain MS Dhoni's family office, ReNew Chairman Sumant Sinha and responsAbility. The fund will be used to expand operations and build EV charging infrastructure and assets, the company said. BluSmart has reportedly raised ₹710 crore so far since December 2023.
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Former Tesla, Google engineers raise $4 million for AI-text detection startup Pangram
Economic Times
·
1m ago
Medial
Pangram, a startup founded by former Tesla and Google employees, has raised $4 million in seed funding. The company develops tools for detecting AI-generated text, addressing the increasing reliance on AI in schools and businesses. With notable clients like Quora and NewsGuard, Pangram aims to expand its offerings and team, leveraging an active learning algorithm and cost-efficient open-source models. Monthly subscriptions for AI scanning services range from $15 to $100.
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Drew Baglino’s Heron Power Raises $38 Million Series A Led by Capricorn to Develop Heron Link Grid Transformers | DeepNewz VC
Business Bytes
·
2m ago
Medial
Heron Power, a company founded by Tesla alum Drew Baglino, has secured $38 million in Series A funding. This investment, led by Capricorn Investment Group, aims to advance the development of crucial grid technology. The funding will support Heron Power's mission to innovate in the energy sector. Although details remain limited, the initiative highlights the growing interest in transforming energy infrastructures through technological advancements.
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Exclusive: Telecom Startup WIOM Raises $35 Mn In Round Led By Accel, Prosus
Inc42
·
1m ago
Medial
WIOM, a telecommunications startup, raised $35 million in a funding round led by Accel and Prosus, with participation from existing investors. Founded in 2015 by Ashutosh Mishra, Satyam Darmora, Nishit Aggarwal, and Maanas Dwivedi, WIOM was initially known as i2e1, providing affordable internet services to offline retailers. After the 2020 launch of the PM-WANI scheme, it rebranded to WIOM. This round values WIOM at $200 million.
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Enterprise software startup TraqCheck secures funding from Alok Oberoi, others
Economic Times
·
10m ago
Medial
New Delhi-based startup TraqCheck has secured an undisclosed amount of funding in a recent round led by Alok Oberoi, former head of Goldman Sachs' international wealth management business. The funds will support the company's global expansion plans, with a focus on the United Kingdom initially. TraqCheck, founded in 2020, provides AI-powered background verification services to over 200 clients including Bajaj Capital, Reliance Retail, and Grant Thornton. The recent investment follows a previous funding round that valued the startup at $9 million.
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