Mumbai, Sept. 1 -- Bengaluru-based Tessolve, which offers semiconductor engineering services, has secured $150 million from investment firm TPG Inc.'s growth arm for acquisitions, expanding its test labs, and strengthening itsglobal delivery centers, the companies said in a statement on Monday.

Tessolve, majorly owned by Hero Electronix, has attracted several institutional backers including Singapore-based Novo Tellus Capital Partners, which invested $40 million in the company in 2021. The company's revenue increased from $25 million in 2015-16 to over $150 million in FY25.

"Over the past couple decades, Tessolve has built deep capabilities throughout the semiconductor engineering value chain, from chip architecture, to design, test dev...