Reliance Venture Asset Management has successfully led and completed the Series C round of venture funding in Tessolve Services. 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.
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.
Speaking on the investment, Harshal J. Shah, CEO, Reliance Venture Asset Management, said, “Tessolve’s strong engineering capabilities and its value proposition to customers has made it an industry pacesetter and we are proud to be their partners in success.”
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.
