May 14, 2019

High tech mini-manufacturer Tempo Automation is thriving

Photo: Tempo Automation

Last year we told you about Tempo Automation, a startup doing high-tech contract manufacturing in San Francisco.

Flashback: It was formed with the idea that the ability to generate small runs and prototypes close to Silicon Valley can be worth the added cost of doing work in one of the priciest rents and highest labor costs around.

So far the bet appears to be paying off.

  • Last August, Tempo opened a 42,000-square-foot factory in San Francisco's Design District, doubling its manufacturing capacity.
  • It has doubled its employee base in the last 12 months and expects to do so again in the coming year.
  • Tempo says its customers include 4 of the top 10 largest medical device companies in the world, 2 leading aerospace/aviation/defense firms, and 2 of the top 10 satellite manufacturers.

The latest: Tempo has raised a fresh $45 million in a Series C round led by existing investor, Point72 Ventures.

  • The round includes Lockheed Martin as a strategic investor, along with existing investors, Lux Capital, Uncork Capital, Cendana and Golden Seeds.
  • It says it will use the new money to expand further and grow its software expertise.

Go deeper: A surprising factory in downtown San Francisco

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U.S. coronavirus updates: Confirmed cases surpass 200,000

Data: The Center for Systems Science and Engineering at Johns Hopkins; Map: Andrew Witherspoon/Axios

Positive cases of the coronavirus passed 200,000 on Wednesday — nearly twice as many as Italy — as more state governors issued stay-at-home orders for Americans to curb infection, per Johns Hopkins.

The state of play: In a major pivot in tone, President Trump said Tuesday it's "going to be a very painful two weeks," with projections indicating the virus could kill 100,000–240,000 Americans — even with strict social distancing guidelines in place.

Go deeperArrowUpdated 6 hours ago - Health

Coronavirus dashboard

Illustration: Aïda Amer/Axios

  1. Global: Total confirmed cases as of 7 p.m. ET: 932,605 — Total deaths: 46,809 — Total recoveries: 193,177Map.
  2. U.S.: Total confirmed cases as of 7 p.m. ET: 213,372 — Total deaths: 4,757 — Total recoveries: 8,474Map.
  3. Business updates: Very small businesses are bearing the brunt of the coronavirus job crisis.
  4. World update: Spain’s confirmed cases surpassed 100,000, and the nation saw its biggest daily death toll so far. More than 500 people were reported dead within the last 24 hours in the U.K., per Johns Hopkins.
  5. State updates: Florida and Pennsylvania are the latest states to issue stay-at-home orders — Michigan has more than 9,000 confirmed cases, an increase of 1,200 and 78 new deaths in 24 hours.
  6. Stock market updates: Stocks closed more than 4% lower on Wednesday, continuing a volatile stretch for the stock market amid the coronavirus outbreak.
  7. What should I do? Answers about the virus from Axios expertsWhat to know about social distancingQ&A: Minimizing your coronavirus risk.
  8. Other resources: CDC on how to avoid the virus, what to do if you get it.

Subscribe to Mike Allen's Axios AM to follow our coronavirus coverage each morning from your inbox.

World coronavirus updates: Spain's health care system overloaded

Data: The Center for Systems Science and Engineering at Johns Hopkins, the CDC, and China's Health Ministry. Note: China numbers are for the mainland only and U.S. numbers include repatriated citizens and confirmed plus presumptive cases from the CDC

Two planes with protective equipment arrived to restock Spain’s overloaded public health system on Wednesday as confirmed cases surpassed 100,000 and the nation saw its biggest death toll so far, Reuters reports.

The big picture: COVID-19 cases surged past 900,000 and the global death toll surpassed 45,000 early Wednesday, per Johns Hopkins data. Italy has reported more than 12,000 deaths.

Go deeperArrowUpdated 3 hours ago - Health