Tessolve Secures Landmark $150 Million Investment from TPG

Tessolve, a semiconductor engineering services company, has secured $150 million from TPG, a global asset management firm. This funding will be used to enhance global delivery centers, expand test labs, and pursue strategic acquisitions. The investment is a significant milestone for Tessolve, aligning with Hero Electronix's vision for global tech ventures.

Semiconductor company Tessolve has announced a substantial $150 million funding boost, courtesy of global alternative asset management leader TPG, as disclosed on Monday.

The infusion of capital will be directed towards fortifying Tessolve's global delivery centers, expanding advanced testing facilities, and accelerating strategic acquisitions to solidify its standing within the global and Indian semiconductor ecosystems.

This investment represents the largest fundraising initiative for an Indian semiconductor engineering services firm, underscoring Tessolve's pioneering role in the sector, as emphasized by Chairman Ujjwal Munjal. Hero Electronix, which ventured into semiconductors through acquiring Tessolve in 2016, sees this as a step towards growing globally competitive tech enterprises from India.

(With inputs from agencies.)