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Ina Fried Apr 17
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Startup gets $20 million to make tech gear in pricey San Francisco

Tempo Automation is making printed circuit boards in San Francisco
Tempo is making printed circuit boards in San Francisco. Photo: Tempo Automation.

Manufacturing printed circuit boards in San Francisco sounds crazy given the high cost of labor and real estate, but Tempo Automation has raised $20 million to do just that.

The bottom line: Tempo isn't building production runs like one would get from Shenzhen. Instead, it is focused on getting quick prototypes to Bay Area tech firms looking to rapidly iterate on a design.

The latest: The new $20 million in funding is designed to help fund a 42,000-square-foot factory — Tempo's second — in San Francisco's SOMA neighborhood. It's already running at capacity at its current 8,000-square-foot facility. The money should allow the company to nearly double its current staff of around 60.

The round was led by P72 Ventures with participation from existing investors Lux Capital, Uncork Capital and AME, and new investors Dolby Ventures, Industry Ventures and Cendana.

What it's up to: CEO Jeff McAlvay says he can't give client names, but says his factory has cranked out parts for phones, robots and even rockets and autonomous cars.

“One of the things I enjoy is the range of products that we get to play a small part in bringing to market," McAlvay told Axios.

Axios 2 hours ago
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Macron's blunt postgame

Collage: Sarah Grillo/Axios; Photos: Getty Images

French President Emmanuel Macron said at a remarkably candid postgame for a small group of reporters last evening that his State Visit left him convinced President Trump will withdraw from the nuclear deal with Iran, and that the U.S. president wants to create "a series of new Trump's deals."

His big takeaway: "[Y]our president is a dealmaker. You always have to understand the rationale of your counterpoint. He's a dealmaker. So he wants to find a deal and he wants to find a deal under his condition."