Tessolve, a global leader in semiconductor and embedded engineering services, has announced a $150 million investment from TPG. This strategic infusion of capital marks a pivotal moment in Tessolve’s evolution, reinforcing its role as a key enabler in the semiconductor ecosystem and positioning the company for a new phase of accelerated growth and innovation.
The investment, made through TPG Growth, reflects the increasing importance of semiconductor engineering in today’s technology-driven economy.
As industries ranging from automotive and industrial automation to artificial intelligence and high-performance computing continue to demand more sophisticated chip solutions, Tessolve has emerged as a trusted partner capable of delivering end-to-end engineering services that span the entire semiconductor lifecycle.
From chip architecture and design to testing, validation, and embedded systems integration, Tessolve’s capabilities are both deep and broad, making it a preferred collaborator for many of the world’s leading semiconductor companies.
Over the years, Tessolve has built a reputation for technical excellence and operational reliability. The company currently works with 90 percent of the top 20 semiconductor firms globally, a testament to its engineering depth and ability to meet the complex demands of cutting-edge chip development. With a presence in 12 countries and a workforce of over 3,000 engineers, Tessolve has steadily expanded its global footprint, supporting clients across North America, Europe, and Asia.
The $150 million investment will be used to fuel both organic and inorganic growth initiatives. On the organic side, Tessolve plans to significantly ramp up its research and development efforts, investing in advanced test labs, expanding global delivery centers, and enhancing its proprietary engineering platforms. These initiatives aim to deepen the company’s expertise in emerging technologies and to improve its ability to deliver turnkey solutions across a broader range of applications.
In parallel, Tessolve will pursue strategic acquisitions to broaden its capabilities and enter new markets. A recent example of this strategy is the acquisition of Dream Chip Technologies, a German semiconductor design firm known for its expertise in full-chip turnkey solutions. This move not only expanded Tessolve’s European presence but also added critical design capabilities that complement its existing service offerings.
The investment from TPG also signals growing confidence in Tessolve’s long-term trajectory. It follows a previous $40 million investment from Singapore-based Novo Tellus Capital Partners in 2021, which remains a significant shareholder. Together, these partnerships provide Tessolve with the financial strength and strategic guidance needed to scale its operations and deepen its impact on the global semiconductor value chain.
Looking ahead, Tessolve plans to expand its offerings in high-growth verticals, including automotive electronics, AI-driven systems, industrial automation, and high-performance computing. These sectors are increasingly reliant on advanced semiconductor technologies, and Tessolve is well-positioned to support their evolution with customized engineering solutions that meet the highest standards of performance, reliability, and scalability.
KEY QUOTES:
“Over the past 2 decades, Tessolve has built deep capabilities throughout the semiconductor engineering value chain, from chip architecture to design, test development, and embedded systems. We are excited to welcome TPG as a partner as we look to accelerate our next phase of organic and inorganic growth, strengthen our R&D efforts, and reach new heights. This would not have been possible without the dedication of our worldwide team and the consistent backing of Hero Electronix and Novo Tellus as our partners.”
Srini Chinamilli, Co-Founder & CEO, Tessolve
“This investment is a significant milestone for Tessolve and a testament to Hero Electronix’s vision to build leading technology ventures of global scale from India. I would like to congratulate and thank the entire Tessolve team for its unwavering commitment, which has made this milestone possible. With TPG joining this journey, we see an exciting opportunity for Tessolve to scale further and become a key player in the global semiconductor value chain and also play an important role in the development of the Indian semiconductor ecosystem.”
Ujjwal Munjal, Vice Chairman, Hero Electronix and Chairman, Tessolve
“Over the years, Tessolve has grown from a test engineering lab to a full-scale semiconductor engineering services provider, with end-to-end capabilities across the semiconductor value chain. As a partner-of-choice for many of the world’s fast-growing, tech-forward organizations, we are excited to partner with Srini and his team and have Tessolve among our portfolio of innovative tech businesses.”
Bhushan Bopardikar, Business Unit Partner at TPG Growth
