Reliance Venture completes series C funding of Tessolve Services

Reliance Venture Asset Management, the venture capital arm of Reliance ADA Group, today announced that it has successfully led and completed the Series C round of venture funding in Tessolve Services, an independent full-service semiconductor test and product engineering company. The announcement comes close on the heels of the company’s recent investment in Reverse Logistics and reflects the broadening of its investment canvas to partner with companies that are pioneers in their spaces with innovative business models.

Tessolve provides experienced engineering capability to support and manage all functions from Design for Testability (DFT) through package design, test development, charaterisation and optimized production to lower cost throughout the life of the product. As semiconductor product companies have to increase the number of new products to maintain or grow, they can take advantage of the scalability, cost and engineering expertise of Tessolve.

With its state of the art facility at Bangalore, Tessolve is equipped with the most sophisticated test systems and dedicated engineering team to assist in developing test solutions for RF, advanced mixed-signal, memory and digital devices.
 
While Reliance Venture Asset Management will lead this round of investment, the other co-investors for the deal include Tessolve’s existing investors; JAFCO Asia, Qualcomm Ventures and Applied Ventures.