Tessolve, a semiconductor engineering services company under Hero Electronix, has raised $150 million from global investment firm TPG. The investment, made through TPG Growth, marks the largest-ever fundraise by a semiconductor engineering services firm in India.
The funds will be deployed to scale global delivery centers, expand advanced test labs, and pursue acquisitions, strengthening Tessolve’s role as a key partner for both global and Indian semiconductor ecosystems.
According to earlier reports, TPG is acquiring a minority stake in Tessolve, valuing the company at $475–$500 million.
Hero Electronix entered the semiconductor industry in 2016 with the acquisition of Tessolve. Since then, Tessolve has scaled from $25M in revenue (FY16) to over $150M in FY25. In 2021, Singapore-based Novo Tellus Capital Partners invested $40M in the company and continues to hold a significant stake.
Today, Tessolve partners with 18–20 semiconductor firms, employing over 3,000 engineers across India, the US, Germany, the UK, Singapore, and Malaysia. The company operates 11 semiconductor test and embedded labs worldwide, providing end-to-end engineering solutions.
The global semiconductor industry, valued at $550+ billion, is critical to the future of AI, data centers, and automotive innovation—and Tessolve aims to be a leading engineering partner at this frontier.
By : Arushi Agarwal
