Tessolve, a Bengaluru-based semiconductor engineering services company majority owned by Hero Electronix, has secured USD 150 million from global alternative asset manager TPG.

The investment, made via TPG Growth, will support Tessolve in strengthening global delivery centres, expanding advanced test labs, and accelerating strategic acquisitions to consolidate its role in the global and Indian semiconductor ecosystem.

Founded in 2004, Tessolve offers end-to-end semiconductor engineering services, from chip architecture and design to test development and embedded systems. The company employs over 3,000 professionals across 10 countries, including the US, Germany, and Canada, and operates 11 semiconductor test and embedded labs worldwide.

Hero Electronix, part of the Hero Group, acquired a controlling stake in 2016 and owned 58 percent before this round. Novo Tellus, holding about 32 per cent, joined in 2021 with a USD 40 million investment. CEO Srini Chinamilli said the deal will “accelerate our next phase of organic and inorganic growth.”