Tessolve, a Bengaluru, India-based global provider of engineering and R&D services to semiconductor companies, raised $40m in funding.
Novo Tellus Capital Partners made the investment at a $100m valuation.
The company intends to use the funds to:
- strengthen their capabilities across chip design, embedded services offerings,
- expand its ASIC design business,
- scale up its India operations by further investing in local talent development and
- grow its global presence in key markets across US, Europe, Southeast Asia, Korea and Japan.
Led by Srinivas Chinamilli, CEO, Tessolve is an end-to-end engineering services partner for semiconductor companies with a wide range of offerings covering chip design, test and PCB engineering and embedded systems design. With over 2,000 employees worldwide and operations in US, India, Singapore, Malaysia, Europe, UK, and Taiwan, Tessolve enable its clients accelerate their innovation journey and enables faster time-to-market through deep domain expertise in Analog, Digital, Mixed Signal, and RF.
A Hero Electronix venture, Tessolve has capabilities across test engineering platforms backed by in house infrastructure including test, characterization and reliability labs.