diff --git a/charts/tempo/Chart.yaml b/charts/tempo/Chart.yaml
index 5dfa24f2e6..ee09ebd7c8 100644
--- a/charts/tempo/Chart.yaml
+++ b/charts/tempo/Chart.yaml
@@ -2,8 +2,8 @@ apiVersion: v2
 name: tempo
 description: Grafana Tempo Single Binary Mode
 type: application
-version: 1.7.3
-appVersion: 2.3.1
+version: 1.8.0
+appVersion: 2.4.2
 engine: gotpl
 home: https://grafana.net
 icon: https://raw.githubusercontent.com/grafana/tempo/master/docs/tempo/website/logo_and_name.png
diff --git a/charts/tempo/README.md b/charts/tempo/README.md
index 07321130fd..4eec988285 100644
--- a/charts/tempo/README.md
+++ b/charts/tempo/README.md
@@ -1,6 +1,6 @@
 # tempo
 
-![Version: 1.7.3](https://img.shields.io/badge/Version-1.7.3-informational?style=flat-square) ![Type: application](https://img.shields.io/badge/Type-application-informational?style=flat-square) ![AppVersion: 2.3.1](https://img.shields.io/badge/AppVersion-2.3.1-informational?style=flat-square)
+![Version: 1.8.0](https://img.shields.io/badge/Version-1.8.0-informational?style=flat-square) ![Type: application](https://img.shields.io/badge/Type-application-informational?style=flat-square) ![AppVersion: 2.4.2](https://img.shields.io/badge/AppVersion-2.4.2-informational?style=flat-square)
 
 Grafana Tempo Single Binary Mode