Alliance Ventures Invests in Tekion, the Next-Gen Digital Cloud Platform for Automotive Retail

PR77108

PARIS, January 17, 2019 /PRNewswire=KYODO JBN/ --

Investment in US provider of dealership software systems marks a new commitment

for digital consumer experience in first year of corporate venture capital

fund.

Alliance Ventures, the strategic venture capital arm of

Renault-Nissan-Mitsubishi, has announced today a new investment in digital

technologies and services by investing in Tekion, a US company.  Tekion brings

connected digital experiences to automotive retail through the most advanced

Machine Learning and Artificial Intelligence capabilities available.

     (Logo:

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The investment in Tekion, based in California's Silicon Valley, is the latest

investment by Alliance Ventures in start-ups, early-stage development and

entrepreneurs at the cutting edge of next-generation systems for the automotive

industry.

François Dossa, Alliance Global Vice President, Ventures and Open Innovation,

said: "Renault-Nissan-Mitsubishi believes that automotive groups with the most

advanced and digitally-connected customer services will enjoy significant

competitive advantages. This is one of the reasons we are investing in Tekion,

a company that is leveraging the most advanced technologies to provide digital

experiences and solutions for automotive retail.

Founder and Chief Executive Officer of Tekion added: "At Tekion, we offer the

latest technology from ML/AI to Big Data and Internet of Things, all integrated

in one cloud platform, bringing a seamless digital experience from online to

in-store. This investment from Alliance Ventures will enable us to go farther

and faster in creating best-in-class, integrated experiences that connect OEMs,

dealers, and consumers better than ever before."

The investment follows nine other direct investments in 2018, in startups based

in North America, Europe, Middle-East and China, to allow Alliance Ventures to

contribute to the future of mobility for all.

Financial terms of the Tekion investment will not be disclosed.

ABOUT TEKION

Tekion is a cloud platform that offers automotive retail technology that

disrupts the status quo. Tekion services car dealerships across the United

States who seek a better way to do business while providing excellent customer

experiences and increasing efficiency, revenue and retention. Tekion was born

in California's Silicon Valley and employs over 150 innovators. For more

information, visit Tekion.com.

ABOUT RENAULT-NISSAN-MITSUBISHI

Groupe Renault, Nissan Motor Company and Mitsubishi Motors represent the

world's largest automotive alliance. It is the longest-lasting and most

productive cross-cultural partnership in the auto industry. Together, the

partners sold more than 10.6 million vehicles in nearly 200 countries in 2017.

https://www.alliance-2022.com/news/alliance-ventures-invests-in-tekion-the-next-gen-digital-cloud-platform-for-automotive-retail/

SOURCE: Renault-Nissan-Mitsubishi