Novarc is a full-stack robotics company specializing in the design and commercialization of collaborative robots (cobots) and AI-based machine vision software and systems for robotic welding applications.
Novarc was recently named to the Globe and Mail’s Report on Business 2022 ranking of Canada’s Top Growing Companies
The capital investment will allow Novarc to broaden its robot and AI product line and accelerate its global expansion.
“We’re very excited to have closed this Series A financing with Graham Partners which will be used to fund the expansion of Novarc’s sales and marketing efforts in North America, Europe and Asia, and continued investment in research and development in AI and robotics,” says Soroush Karimzadeh, CEO of Novarc Technologies.
“We have seen global demand steadily increasing for an automation solution like Novarc’s. Today, some of the top companies in the building construction, manufacturing, engineering, energy, off-shore and shipbuilding industries are employing our invention, the Spool Welding Robot (SWR™).”
Novarc’s SWR revolutionized the welding industry by automating pipe welding and paved the way for the introduction of cobots in the welding industry.
The SWR works alongside a human operator, to increase productivity and weld quality and consistency, with the ability to recover clients’ capital investment within six to 18 months.
“This investment also allows us to scale our multidisciplinary team in robotics, AI, vision, welding, sales and support to meet the ramp up in demand for factory automation,” adds Karimzadeh. “The deployment of collaborative robots enhanced by vision and artificial intelligence will increasingly be the mainstay in fabrication facilities of many industries – this funding will provide Novarc with the bandwidth to meet this demand.”