Tessolve, a Bengaluru-based semiconductor engineering services company owned by Hero Electronix, has raised 150 million dollars from the growth division of TPG. The funding will be used to accelerate acquisitions, expand advanced testing laboratories, and strengthen global delivery centres, reinforcing Tessolve’s role in the global semiconductor value chain.
Ujjwal Munjal, vice chairman of Hero Electronix and chairman of Tessolve, described the agreement as a “significant milestone”. He said the partnership with TPG would fuel growth and establish Tessolve as a key contributor to the semiconductor ecosystem worldwide. Echoing this vision, Srini Chinamilli, CEO and cofounder of Tessolve, emphasised the company’s decades of expertise across the semiconductor engineering value chain, “from chip architecture to design, test development and embedded systems.”
Tessolve employs more than 3,500 engineers and benefits from the support of Hero Electronix and Novo Tellus Capital Partners. It already works with 18 of the world’s top 20 semiconductor companies. The fresh investment reflects private equity’s growing interest in semiconductor services beyond manufacturing, particularly as demand rises with advancements in AI, automotive electrification, and cloud technologies.
According to data from a common source, Tessolve has now raised a total of 213 million dollars across eight funding rounds, marking its consistent growth as a trusted partner in one of the world’s most critical industries.
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