Hero Electronix-owned Tessolve Semiconductor raised $75 million (₹718 crore) in a funding round led by Vector Line Capital, with participation from existing investors TPG and Novo Tellus Capital Partners, according to inc42.com. The fresh capital aims to support acquisitions that will complement Tessolve’s existing capabilities, broaden its service offerings, and strengthen its international business.
Tessolve, founded in 2004 by Srini Chinamilli, P Raja Manickam, and Veerappan V, is already in advanced discussions to close multiple acquisitions over the next few quarters. The company last acquired Germany’s Dream Chip Technologies GmbH in a ₹400 crore deal in November 2024. CEO Srini Chinamilli said the investment will enhance their offerings and that Vector Line’s sector focus and relationships will add significant value.
The company provides end-to-end semiconductor engineering services, including chip architecture, design, validation, testing, and embedded systems. Tessolve is also designing AI and HPC chips using in-house pre-engineered semiconductor platforms and design flows to shorten development cycles. It has a global lab infrastructure and partnerships with leading foundries, IP, EDA, and test equipment companies, and claims to have worked with 18 of the world’s top 20 semiconductor companies.
Hero Electronix, the electronics and technology arm of the Hero Group, acquired a controlling stake in Tessolve. The company’s next steps include finalizing multiple acquisitions in the coming quarters to expand its semiconductor capabilities and global footprint, according to inc42.com.