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Startup Funding: April 2021
April showers brought mega fundraising rounds to the semiconductor industry. In China, a mobile chipset maker looking to go public won significant funding along with partnerships with major smartphone companies. In the US, AI hardware startups are drawing interest with unique processor architectures and business models. Plus, a major test and design services company drew new investment. This month, we take a look at 22 companies that collectively raised over $2.3B.
Semi & design
Guosheng Capital,
Haier Financial, and
W&W Fund among the participants. The fabless company designs a range of chipsets for mobile and IoT/IIoT applications, including 5G mobile and baseband as well as NB-IoT. It is currently working with Xiaomi and OPPO on a sub-6GHz 5G chip. Formerly known as Spreadtrum before its acquisition by Tsinghua Unigroup, Unisoc is based in Shanghai, China. It is reportedly preparing to list on the Shanghai STAR market later this year.
SerbiaTaiwanShanghaiChinaUnited-kingdomBlackrockMassachusettsUnited-statesShenzhenGuangdongBeijingSingapore PE Novo Tellus invests $40m in Indian engineering firm Tessolve
Photo: Colin Watts / Unsplash
April 22, 2021
Novo Tellus, a Singapore-based private equity firm that focuses on mid-market technology and industrials sectors, has invested $40 million in Bengaluru-based engineering services company Tessolve Semiconductor.
The investment, which values Tessolve at $100 million, will be used to fuel the company’s growth through acquisitions and organic investments, according to an announcement.
Tessolve is a Hero Electronix venture and a global provider of engineering and R&D services to semiconductor companies. It focuses on semiconductor design, test/product engineering, PCB design, failure analysis, and systems design. The company’s client base includes 8 of the top 10 semiconductor companies in the world.
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BENGALURU: Hero Electronix s venture Tessolve, which provides engineering and R&D services to semiconductor companies, has raised $40 million from Singapore-based private equity firm Novo Tellus Capital Partners. The firm has been valued at $100 million. The funding will be deployed to accelerate Tessolve s growth through acquisitions and deepen chip design and ASIC engineering capabilities. Hero Electronix is the technology venture of the $5 billion Hero Group.
Ujjwal Munjal, founding director of Hero Electronix, said Tessolve has witnessed a year-on-year growth rate of over 30%. “The growth will accelerate further with fresh funding. There’s interest in application-specific semiconductors even as the complexity and engineering increases. In the next five years, we can take the firm three-folds from where we are,” he said.
JapanIndiaBengaluruKarnatakaSingaporeUjjwal-munjalNikhil-rajpalHero-groupHero-electronixNovo-tellus-capitalSoutheast-asiaSan-lokeTessolve, a Hero Electronix venture, has raised $40 million from Novo Tellus Capital Partners, a leading private equity firm based out of Singapore at a $100-million valuation. Tessolve is a global provider of engineering and research and development services to semiconductor companies. The funding will be used by Tessolve to drive further growth through acquisitions and organic investments.
“We are delighted to welcome Novo Tellus as a key partner in the journey to build Tessolve into the largest global provider of semiconductor engineering services,” said Ujjwal Munjal, founder director, Hero Electronix. “Their sector expertise and experience in building technology leaders should be a great asset to Tessolve.”
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