Tessolve Secures $150M from TPG to Boost Global Semiconductor Growth

Post by : Armust Desk

Tessolve, a leading semiconductor engineering services company, has raised $150 million in funding from global alternative asset management firm TPG. The investment aims to expand Tessolve’s innovative test facilities, enhance its delivery centres worldwide, and support strategic acquisitions. This partnership reflects Tessolve’s mission to strengthen its position in the global and Indian semiconductor ecosystems.

In recent years, Tessolve has shown remarkable growth. The company’s revenue for FY25 surpassed $150 million, a significant jump from $25 million in FY16. Previously, Novo Tellus Capital Partners, a Singapore-based investment firm, had invested $40 million in 2021 and remains a key stakeholder in Tessolve’s journey.

Leadership Perspectives on the Investment

Ujjwal Munjal, Vice Chairman of Hero Electronix and Chairman of Tessolve, said,

"This is a significant milestone for Tessolve and a testament to Hero Electronix’s vision to build global technology ventures from India. With TPG joining this journey, we see exciting opportunities for Tessolve to scale further, play a key role in the global semiconductor value chain, and contribute to the Indian semiconductor ecosystem."

Srini Chinamilli, Co-Founder and CEO of Tessolve, added,

"Over the past two decades, Tessolve has built strong capabilities across the semiconductor engineering value chain, from chip architecture to design, test development, and embedded systems. TPG’s partnership will help accelerate growth, strengthen R&D, and reach new heights in the semiconductor industry."

Bhushan Bopardikar, Business Unit Partner at TPG Growth, commented,

"Tessolve has become a full-scale semiconductor engineering services provider with end-to-end capabilities. We are excited to partner with Srini and his team and welcome Tessolve to our portfolio of innovative technology businesses."

Global Footprint and Capabilities

Tessolve employs more than 3,000 engineers worldwide, with offices and delivery centres across India, the US, Germany, the UK, Singapore, and Malaysia. The company provides services to 18 of the top 20 semiconductor firms globally. To support its clients, Tessolve has invested in 11 embedded and semiconductor testing laboratories across the world. These facilities provide end-to-end solutions, covering everything from chip design and architecture to testing and embedded systems.

The company’s broad capabilities have positioned it as a trusted partner for global semiconductor leaders, delivering solutions that meet stringent industry standards while driving innovation. Tessolve’s focus on research and development, coupled with strategic acquisitions, ensures it remains at the forefront of semiconductor technology.

Strategic Growth Plans with TPG

With TPG’s investment, Tessolve plans to accelerate both organic and inorganic growth. This includes:

• Expanding Test Facilities: Investing in new laboratories and upgrading existing testing centres to deliver innovative solutions faster.

• Strengthening R&D: Enhancing research and development capabilities to design next-generation semiconductor solutions.

• Global Acquisitions: Identifying and acquiring strategic companies that complement Tessolve’s offerings and expand its reach in key markets.

• Enhancing Delivery Centres: Improving operational efficiency and capacity at existing delivery centres worldwide to serve more clients effectively.

This growth strategy will reinforce Tessolve’s role in the global semiconductor value chain and further contribute to the development of India’s semiconductor ecosystem.

Tessolve’s Journey and Industry Impact

Since its inception, Tessolve has grown from a modest engineering services company to a global semiconductor solutions provider. The company’s revenue growth from $25 million in FY16 to over $150 million in FY25 highlights its consistent progress. Its innovative approach, skilled workforce, and global presence make it a preferred partner for semiconductor giants worldwide.

Tessolve’s journey also demonstrates the potential of Indian technology ventures to achieve global scale. By combining local expertise with international partnerships like TPG, the company is setting benchmarks for other tech enterprises looking to expand globally.

With a workforce of highly skilled engineers, extensive global presence, and robust R&D capabilities, Tessolve is well-positioned to meet the growing demands of the semiconductor industry. This latest funding will enable the company to continue its trajectory of innovation, growth, and global leadership.

TPG’s $150 million investment in Tessolve marks a new chapter for the company. It highlights Tessolve’s vision to scale its operations globally while continuing to strengthen India’s semiconductor ecosystem. Through expanded labs, strategic acquisitions, and enhanced delivery centres, Tessolve is ready to meet the future demands of the global semiconductor industry.

Tessolve funding, TPG investment, semiconductor growth