Tempo Automation Regains Point72 Ventures as Investor while Raising $45 Million in Series C Round
Funding to secure the expansion to multiple industries with robotics and software support, reducing cost and time for production
Fremont, CA: Tempo Automation, one of the fastest growing manufacturers of circuit board, has raised $45 Million in Series C funding, while Point72 Ventures, a former investor - returns.
Led by returning investor Point72 Ventures, a global venture capital firm, the company was able to raise $45 Million in Series C funding, along with gaining new investors including Lockheed Martin, Lux Capital, and Uncork Capital. The company that is valued at $74.6 million according to Crunchbase, a platform for finding business information about private and public companies had raised $20 million in Series B funding in April 2018.
The San Francisco based startup excels at manufacturing circuit boards from CAD within three days. With tailored services fit for low-volume manufacturers, Tempo optimizes the production with speed, transparency, and precision.
As per the Jeff McAlvay, CEO, the firm has tripled in size since its inception in 2013. With a new 42,000 square foot production facility in San Francisco’s Design District, Tempo now adheres to the demands of multiple industries including medical tech, consumer electronics, aerospace, defense, aviation, automotive, and satellite manufacturers.
Sri Chandrasekar, an Indian American partner at Point72 Ventures, and a board member at Tempo shares that it has the capability to reinvent the circuit board manufacturing industry with automation.
The automated factories of Tempo allow a superior delivery of manufacturing and customer experience, he added. He continued that they are pleased to support Tempo in their continued growth.