Brands
Agilitas Sports acquires India’s BIS-Licensed Mochiko shoes
Mumbai: Agilitas Sports, innovation-led sportswear and Athleisure solutions platform, co-founded by Abhishek Ganguly, ex-MD, Puma (India & South-East Asia), has in a significant move, announced the acquisition of Mochiko Shoes Pvt Ltd, India’s largest sports footwear manufacturer for the domestic market.
“This acquisition augments Agilitas’ value proposition, by strengthening our supply chain in the rapidly growing sports footwear market. Mochiko’s manufacturing capabilities, operational excellence and strategic partnerships with leading global giants position us to address the government’s clarion call to ‘Make in India’, and to cater to the rising aspirations of an economic superpower, with the largest youth population”, said Agilitas Sports CEO & co-founder Abhishek Ganguly.
Established in 2008, by Virender Awal and a co-founding team of five members, Mochiko Shoes registered a revenue of Rs 642 crore in FY2023 and is estimated to grow by 30 per cent, year-on-year (Y-o-Y).
Mochiko Shoes Pvt. Ltd. founder & CEO Virender Awal spoke about the acquisition, “Joining the Agilitas family propels our ambitions. We are now poised to enhance long-term investments, addressing the soaring demand in the Sports and Athleisure footwear sector. We envision multi-fold and multifaceted growth in our business over the next five-six years, adding jobs and livelihood.”
Today, Mochiko Shoes is a manufacturing partner to leading international brands, such as Adidas, Puma, New Balance, Skechers, Reebok, Asics, Crocs, Decathlon, Clarks, US Polo, among others.
With fully integrated, end-to-end manufacturing capabilities, Mochiko is the first sports footwear manufacturer in India to receive a BIS licence, and is fully compliant with the soon-to-be-implemented Quality Control Orders (QCOs), by the Government of India. Additionally, all its units are ISO 9001, 14001 and 45001 certified.
The company has manufacturing units located in Dehradun and Rishikesh (Uttarakhand) as well as in the National Capital Region (NCR), of Noida. Mochiko employs nearly 10,000 individuals, across the length and breadth of its operations.
The founding team of Agilitas Sports comprises Abhishek Ganguly, the former Managing Director of PUMA India and South East Asia, Atul Bajaj, the former executive director of sales and operations of PUMA India, and Amit Prabhu, former executive director and chief financial officer of PUMA India.
Brands
Tessolve lands a semiconductor veteran to drive its next big push
Ravi Kumar Chirugudu, who started his career at ISRO and has spent 35 years building chips and companies, joins the Bengaluru-based firm as president and chief operating officer
BENGALURU: Tessolve has never been shy about its ambitions. The Bengaluru-based engineering services firm already counts 18 of the world’s top 20 semiconductor companies among its clients, employs more than 3,500 engineers across 12 countries, and last year pocketed a $150m investment from TPG. Now it has hired the executive it believes can turn those assets into something bigger. Ravi Kumar Chirugudu, a 35-year semiconductor veteran who once built satellite payloads for ISRO and has since scaled engineering organisations across three continents, joins as president and chief operating officer, effective immediately.
THE MAN AND THE MANDATE
The appointment is, by any measure, a serious hire. Ravi Kumar Chirugudu comes to Tessolve after senior leadership stints at HCL Technologies, Altran and Wipro, where he managed large profit-and-loss portfolios and oversaw cross-regional teams. Over the course of his career, he has been instrumental in bringing more than 1,000 new products to market across the high-tech, energy and manufacturing verticals. Before the private sector claimed him, he began his working life as a scientist at the Indian Space Research Organisation, contributing to research and development in charge-coupled device technology and satellite payloads, a foundation that shaped everything that followed.
In his new role, he will lead Tessolve’s global growth strategy: expanding its engineering capabilities, deepening customer relationships and accelerating innovation across semiconductor and high-performance computing domains. The brief is broad, but the context is specific. Tessolve operates in the $550 billion global semiconductor market, and its recent moves, the acquisition of Germany’s Dream Chip Technologies and the TPG funding round, have sharpened both its reach and its expectations.
Srini Chinamilli, co-founder and chief executive of Tessolve, is characteristically direct about why Ravi Kumar Chirugudu was the choice:
“As we scale our global semiconductor and system engineering capabilities, Ravi’s appointment marks an important step forward. As global semiconductor demand continues to accelerate across industries, it is creating significant opportunities across the semiconductor lifecycle, from design, packaging, validation and systems integration. Ravi’s deep knowledge and leadership in this ecosystem brings the right mix of industry expertise, customer connect and execution capability, which will play a key role in strengthening our position as a trusted global engineering partner and reinforcing our market leadership.”
THE NEW ARRIVAL SPEAKS
Ravi Kumar Chirugudu, for his part, frames the move in terms of timing and culture, two factors that veteran executives tend to weigh as heavily as title or compensation:
“I am happy to join Tessolve at a time when the industry is rapidly evolving towards more complex, AI-driven systems. What stands out to me is its strong people-first culture and its commitment to bringing value to its customers. The strength of its global team, combined with its deep expertise in semiconductor innovation and next-generation product engineering, creates a solid foundation to build differentiated, scalable solutions. I look forward to working closely with the team to drive strategic growth and strengthen its role in shaping the global semiconductor ecosystem.”
The reference to AI-driven systems is not incidental. The semiconductor industry is in the midst of a structural reshaping, driven by the insatiable compute demands of artificial intelligence. For engineering services firms like Tessolve, which offers end-to-end capabilities from silicon design to packaged parts and invests in high-performance computing, high-speed interfaces, photonics and 5G, the moment is both an opportunity and a test. The company says it is well positioned to capture the next wave of industry growth. Ravi Kumar Chirugudu is now the person who has to prove it.
He came in from outer space, literally, and spent three decades learning how the semiconductor industry works from the inside out. Now Tessolve is betting that accumulated knowledge can help it cross the next frontier. In the $550 billion global chip market, the gap between ambition and execution is measured in engineering hours and leadership quality. Tessolve has just gone shopping for both.
