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Hero Electronix-backed semiconductor firm Tessolve has rasied $150 million in funding from global investment firm TPG.
Tessolve said it will use the new funding to strengthen its global delivery centers, expand advanced test labs, and speed up strategic acquisitions to reinforce its role in the global and Indian semiconductor ecosystem.
The investment came from TPG Growth, TPG’s middle-market and growth equity platform, the company said.
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“This investment is a significant milestone for Tessolve and a testament to Hero Electronix’s vision to build leading technology ventures of global scale from India. I would like to congratulate and thank the entire Tessolve team for its unwavering commitment which has made this milestone possible," said Ujjwal Munjal, Vice Chairman, Hero Electronix, and Chairman, Tessolve.
"With TPG joining this journey, we see an exciting opportunity for Tessolve to scale further and became a key player in the global semiconductor value chain and also play an important role in the development of the Indian semiconductor ecosystem,” he added.
Tessolve has grown into a global engineering leader, with revenues rising from $25M in FY16 to over $150M in FY25.
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In 2021, Singapore-based Novo Tellus Capital Partners invested $40M and remains a key shareholder, showing strong confidence from both existing and new investors in Tessolve’s long-term growth.
Tessolve partners with 18–20 semiconductor companies and employs over 3,000 engineers across India, the US, Germany, the UK, Singapore, and Malaysia. It has set up 11 semiconductor test and embedded labs worldwide, providing end-to-end engineering services.
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