© ljupco smokovski dreamstime.com General | May 15, 2019
Tempo Automation lands USD 45 million Series C funding
Tempo Automation, which specializes in prototyping and low-volume production of PCBAs, has raised USD 45 million in Series C funding, led by existing investor Point 72 ventures.
Also in the Series C round are new outside investors, including Lockheed Martin, as well as existing investors, Lux Capital, Uncork Capital, Cendana and Golden Seeds. The investment will accelerate development of Tempo’s proprietary factory automation software to further increase speed and accuracy for manufacturing high-complexity PCB assembly, according to a press release. “Tempo is reinventing electronics manufacturing by putting software automation at the center of what they do,” said Sri Chandrasekar, partner at Point72 Ventures and board member at Tempo Automation. “Tempo’s interconnected smart factory is modernizing the manufacturing process, which allows them to deliver a far superior customer experience. We see considerable market opportunity for Tempo, and we are pleased to support their continued growth.” “We’re fortunate that, by helping our customers apply agile methods to electronics development, we have sparked great interest and demand,” said Jeff McAlvay, CEO of Tempo Automation. “Our customers have told us that they view our software-first approach to manufacturing as transformative for their ability to bring products to market faster. This investment will help us drive software development and accelerate the growth of our team to deliver greater benefits to our customers and advance the future of manufacturing." Since launching in 2013, Tempo has focused on an aggressive growth strategy across the aerospace, medical technology, industrial systems, consumer electronics, and automotive industries. In 2018, the company opened a 42,000-square-foot smart factory in San Francisco’s Design District. As part of this investment, Matthew Granade from Point72 Ventures will join the Tempo board of directors.
COVID-19 limits viability for AT&S Considering current events and the effects that the global pandemic is having on logistics and production chains worldwide, AT&S is preparing itself for a decline in demand in some of its customer segments.
Neways provides update on COVID-19 impact The EMS provider says it has taken various measures to limit the risks to the health of its employees, as well as its clients and suppliers. In addition, the company has taken measures to safeguard business continuity.
Samsung Display plans to stop all LCD production in 2020 The South Korean company has reached the decision to end all of its production of LCD panels in its home country and in China by the end of 2020.
Orbit One updates machine park with new selective soldering machine Swedish EMS provider, Orbit One, has invested in a new ERSA selective soldering machine for the production unit in Ronneby, Sweden.
ZOLL pivots to focus on volume for ventilator production Massachusetts-based ZOLL Medical Corporation has shot capacity up to 10,000 ventilators per month in response to the COVID-19 pandemic, representing a nearly 25-fold increase from normal volume production.
Computrol ramps output for ventilator production As the coronavirus pandemic continues its spread through the U.S., Idaho-based Computrol is joining a growing list of electronics manufacturers who are adjusting operations to support companies producing critical healthcare products.
ABB adding jobs, new distribution center in Arizona ABB has announced the creation of a new distribution center in Phoenix, in a move that will bring the company closer to Western U.S. distributors, contractors, industrial customers, and retailers.
8% growth in 2019 drives tenth consecutive year of EDA growth The Electronic System Design (ESD) Alliance Market Statistics Service (MSS) says that the Electronic Design Automation (EDA) industry revenue increased 2.2% for Q4 2019 to USD 2626.3 million, compared to USD 2570.1 million in Q4 2018.
Polestar 2 production begins in Luqiao, China Production of Polestar 2 has officially begun in Luqiao, China. The new electric performance fastback is the first electric vehicle to be produced by the facility.
Kimball Electronics updates on the impact of COVID-19 COVID-19 has disrupted the company’s global operations since its initial outbreak. While Kimball Electronics' facilities in China were initially adversely impacted, they have now resumed normal operations.
First Solar says that it's still operational First Solar says that its manufacturing operations will continue at each of the company’s Wood County, Ohio, Kulim, Malaysia and Ho Chi Minh City, Vietnam facilities at this time
100 IC wafer fabs closed or repurposed since 2009 The hardest hit are ≤200mm wafer fabs, 70% of the closures are found in Japan and North America.
Westermo signs contract with North American rail company Beijer Electronics Group has through its business entity Westermo signed a contract with a large North American rail company with an estimated value during the contract period of SEK 80 million (EUR 7.24 million).
Royal Flex Circuits boosts effort to support healthcare Santa Fe Springs, California-based Royal Flex Circuits is ramping up capacity at its year-old manufacturing facility to be produce more of the printed circuits needed in the production of ventilators used specifically in the treatment of Coronavirus.
Lam Research reacts to COVID-19 situation Fremont, California-based Lam Research Corporation has issued a business update for its quarter ending March 31, 2020.
Panasonic,Tesla scaling down production in Nevada In response to Panasonic’s announcement this week of a temporary, full suspension of production of its operations at Tesla’s Gigafactory in Nevada, Tesla also issued a statement that it would significantly decrease production at the site.
NOTE temporarily suspends production at Windsor plant Swedish EMS provider NOTE has, in line with the UK authorities' decision to limit all non-essential travel and work, temporarily halted its production at its manufacturing facility in Windsor.
Texas Instruments adjusting operations in Texas Texas Instruments is following a Dallas County shelter-in-place order and reducing operations at the company’s Dallas-area plants.
European EV battery production gets a boost from the EIB The European Investment Bank (EIB) has signed a EUR 480 million loan agreement with LG Chem Wroclaw Energy, the Polish subsidiary of the LG Chem Group that was established to develop the group’s battery production facility in Europe.
Würth Elektronik CBT produces PCBs for ventilators The worldwide spread of the coronavirus is not only increasing the demand for personal protective equipment, but also for medical ventilators.
North American PCB industry sales down 1.1% in February Total North American PCB shipments in February 2020 were down 1.1% compared to the same month last year.
U.S. may further crimp Huawei's global chip supply Senior Trump administration officials have reportedly agreed on new restrictions to curb the global supply of chips to China’s Huawei Technologies, sources are saying.
Tesla to reopen NY plant to make ventilators Tesla has joined industry efforts to shift production from autos and other non-healthcare related components to much needed supplies that support the domestic battle against rising numbers of coronavirus victims and the need for testing.
Bosch develops rapid test for COVID-19 Developed in just six weeks, Bosch says the rapid test can detect a COVID-19 infection in patients in under two and a half hours – measured from the time the sample is taken to the time the result arrives.Load more news