Tessolve, a Hero Electronix venture that provides engineering and R&D services to semiconductor companies, has expanded its operations to multiple locations globally this year, including Japan, Taiwan, Thailand, the Philippines, and Vietnam to accelerate its ability to provide value to customers globally.
The company recently raised $40 million from Singapore-based private equity firm Novo Tellus Capital Partners at a $100 million valuation, to drive further growth through acquisitions and organic investments.
Since 2016, Tessolve has witnessed a year-on-year growth rate of over 30%, achieving $75 million 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, testing chips, and product engineering, to designing electronic products and managing customers’ product orders.