Tessolve raises $75 million from US-based Vector Line Capital
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- ✓Semiconductor firm Tessolve raised $75 million from US-based Vector Line Capital to fund strategic acquisitions and global growth.
- ✓CEO Srini Chinamilli said, "This investment will support acquisitions that further strengthen our offerings." The company currently employs over 3,500 engineers and works with 18 of the world's top 20 semiconductor companies.
Story at a Glance
- Category
- BUSINESS
- Reported By
- Business Line
- Reading Speed
- 3 Minute(s)
- Market Focus
- India Economy
Semiconductor engineering services firm Tessolve, a Hero Electronix venture, has raised $75 million (about ₹725 crore) from US-based Vector Line Capital, as it pursues acquisitions to expand its capabilities and global presence.
Vector Line, a strategic investment company that invests exclusively in semiconductors and the chip supply chain, joins existing investors TPG and Novo Tellus. This is Vector Line's first investment in India, Tessolve said in a statement.
The funds will support Tessolve's growth, including strategic acquisitions that add to its existing capabilities, widen its service offerings, and strengthen its global footprint.
Tessolve is in advanced discussions to close multiple acquisitions over the next couple of quarters.
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