India, Sept. 1 -- Tessolve, a Hero Electronix venture and the largest independent semiconductor engineering services company globally, has secured $150 million in funding from leading global alternative asset management firm TPG.

Tessolve will use the additional capital to strengthen global delivery centers, expand advanced test labs and accelerate strategic acquisition, as it looks to consolidate the company's position as a key enabler to the global and Indian semiconductor ecosystem. TPG invested through TPG Growth, the firm's middle market and growth equity platform.

Ujjwal Munjal, Vice Chairman, Hero Electronix and Chairman, Tessolve remarked: "This investment is a significant milestone for Tessolve and a testament to Hero Electroni...