North Vancouver-based Novarc Technologies, a leader in AI-driven robotic welding solutions, has raised $50 million in Series B funding to expand its research and development efforts.
The round was led by Export Development Canada (EDC), with participation from Graham Partners, Seaspan, and InBC Investment Corp.
Novarc’s NovAI™ system, an AI-powered welding solution, enhances robotic automation by using machine vision, deep neural networks, and real-time adjustments to ensure consistent, high-quality welds. Unlike traditional robotic welding, NovAI eliminates the need for prescanning and reprogramming, streamlining production processes. NovAI Autonomy is set to launch commercially in Summer 2025.
“We are thrilled to announce that Novarc has secured significant additional funding, with the majority coming from our existing investors,” said Soroush Karimzadeh, CEO of Novarc Technologies. “This continued support is a testament to the confidence our investors have in our mission to revolutionize the welding industry through advanced automation solutions.”
Novarc is a member of the BC Tech Association.
BC Tech is the largest member-led technology non-profit in British Columbia, and we’re dedicated to turning startups and scaleups into the anchor companies of tomorrow. Our work supports members to grow and diversify their talent pool, acquire new customers, access capital and accelerate their scaleup journey. Technology is a key industry for BC’s future and builds resiliency in every industry. Today, every company is a tech company. Join now.
A longtime investor in Novarc, Seaspan has been an early adopter of the company’s welding automation technology, integrating Novarc’s Spool Welding Robot (SWR) at its Vancouver Drydock and Victoria Shipyards. Seaspan’s investment aligns with Canada’s National Shipbuilding Strategy and its commitment to advancing innovation in marine manufacturing.
“Novarc is a leader in its field and its automation technology is transforming the global welding industry,” said Scott Wong, Interim CIO of InBC. “InBC’s investment in Novarc is supporting robotics and AI innovation developed here in our province.”
The funding will allow Novarc to expand its market presence and accelerate product development, bringing real-time adaptation to robotic welding and setting new industry standards in quality and efficiency.
Leave a Reply