Reliance Venture Asset Management, an Anil Dhirubhai Ambani Group (ADAG) enterprise, today said it has completed one round of funding in Tessolve Services, a semiconductor test and product engineering company.
Along with Reliance Venture Asset Management, the other co-investors in this 'Series C' round of funding include JAFCO Asia, Qualcomm Ventures and Applied Ventures, the company said in a statement.
Reliance Venture Asset Management, however, did not disclose the financial details of the deal.
“Tessolve's strong engineering capabilities and its value proposition to customers has made it an industry pace-setter and we are proud to be their partners in success,” Reliance Venture Asset Management CEO Harshal J Shah said.
The association with Reliance Venture Asset Management and the latest round of funding is aimed at taking the company into its next phase of expansion with a focus on both organic and strategic inorganic growth, the statement added.
“We are glad to have the support of Reliance Venture Asset Management as we embark on a new growth trajectory with an aim to scale up operations and expand capabilities in India,” Tessolve Services Founder P Raja Manickam said.
Source: Business Standard