Tempo Closes $20 Million in Series B
Tempo secured $20 million in Series B funding to increase its manufacturing capacity and double its team in key roles in software engineering, sales, and manufacturing. The round was led by P72 Ventures, with participation from existing investors Lux Capital, Uncork Capital and AME, and new investors Industry Ventures, Dolby Ventures, and Cendana.
Hardware companies use Tempo’s service to rapidly prototype printed circuit board assembly (PCBA) designs and get them to market faster. According to the company, Tempo’s strength is in “connected manufacturing,” so design data from the customer uploads directly interface with the robots on the floor, eliminating manual setup and speeding up the manufacturing process. For engineers, this also means they can focus on engineering and less project management. Engineers simply upload a CAD design, get a real-time quote and design for manufacturing feedback, track the order through each process, and get fully assembled boards straight to their desk.