Hero Electronix-backed Tessolve raises $150 million to boost semiconductor services
Tessolve, a semiconductor engineering services company, just raised $150 million from TPG Growth.
Set up its first semiconductor test facility in Bangalore in 2004 and now part of Hero Electronix, Tessolve helps design and test chips for some of the world's biggest tech companies.
Tessolve's rapid growth and global presence
With over 3,000 engineers spread across India, the US, Europe, and Asia, Tessolve works with 18 of the top 20 global semiconductor companies.
Tessolve crossed ₹1,000 crore in revenue two years ago (circa 2024).
The new funds will help them upgrade their global delivery centers and build more advanced test labs.
Plans for the future and TPG's role in it
The investment is all about ramping up research and development and growing even faster—both by expanding what they already do well and by acquiring new capabilities.
CEO Srini Chinamilli said, "We are excited to welcome TPG as a partner as we look to accelerate our next phase of organic and inorganic growth, strengthen our R &D efforts, and reach new heights," while chairman Ujjwal Munjal said this move will help put Tessolve on the map as a key player in the global semiconductor scene.