Tempo Automation, a San Francisco, CA-based manufacturer for prototyping and low-volume production of printed circuit board assemblies (PCBA), raised $45m in Series C funding.
The round was led by existing investor Point72 Ventures, with participation from Lockheed Martin, as well as existing investors Lux Capital, Uncork Capital, Cendana and Golden Seeds. As part of this investment, Matthew Granade from Point72 Ventures will join the Tempo board of directors.
The company intends to use the funds to accelerate development of its proprietary factory automation software to further increase speed and accuracy for manufacturing high complexity PCB assembly.
Founded in 2013 by Jeff McAlvay, CEO, Tempo Automation is an electronics manufacturer for prototyping and low-volume production of printed circuit board assemblies. By developing and deploying proprietary factory automation software in its San Francisco-based smart factory, Tempo allows companies in aerospace, medical technology, industrial technology, automotive, and consumer electronics to innovate and bring new products to market.
Customers are able to plan and execute product development and launch with levels of confidence and certainty not previously possible.
To date, the company has executed a growth strategy focused on expanding its footprint with customers across the aerospace, medical technology, industrial systems, consumer electronics, and automotive industries.