May 11, 2021
Business News

Hero Electronix’s portfolio company Tessolve raises US $40 million from Singapore-based Novo Tellus

BENGALURU, India–()–Tessolve, a Hero Electronix venture and a global provider of engineering and R&D services to semiconductor companies, has raised $40 million from Novo Tellus Capital Partners, a leading private equity firm based out of Singapore at a $100 million valuation. The funding will be used by Tessolve to drive further growth through acquisitions and organic investments.

Since a majority investment by Hero Electronix in 2016, Tessolve has witnessed a year-on-year growth rate of over 30% achieving $75M in 2020 revenues. It has transitioned from a semiconductor test services provider to a provider of complete engineering solutions to semiconductor companies. Offerings range from designing chips,…

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