InBC has invested in Novarc Technologies, a robotics company pioneering autonomous welding solutions for the next era of manufacturing.
Novarc Technologies is a full-stock robotics company specializing in the design and manufacturing of automated welding solutions. Its suite of products includes the Spool Welding Robot (SWRTM), a first-of-its-kind autonomous pipe welding robot, and NovAITM, an AI-driven machine vision system that enables robots to see, think and adapt like an expert welder. By using machine vision and real-time adjustments, NovAI ensures consistent, high-quality welds in almost any condition.
“This new capital from this oversubscribed round will enable us to accelerate our product development, expand our market presence, and continue delivering innovative solutions that meet the evolving needs of our customers. We remain committed to pushing the boundaries of what’s possible in robotic welding, and this investment brings us one step closer to achieving our goals.”
— Soroush Karimzadeh, CEO, Novarc Technologies
Novarc’s autonomous welding solutions can be tailored to the unique needs of a wide variety of industries, ranging from shipbuilding to biotechnology and food and dairy production. The company’s innovative technology is helping industrial manufacturers maximize productivity while setting a new global standard for welding precision and quality. Today, Novarc’s robots are trusted by customers on four continents, including by B.C. manufacturers across the province, and is continuing to expand around the globe.
InBC invested in Novarc Technologies alongside other investors. With this latest financing, the company will be expanding its market presence and advancing its research and development, including the development of its AI-driven solutions such as NovAI. Based in Burnaby, B.C., Novarc’s growing team is supporting local jobs in engineering, software development, robotics, AI and more.
InBC’s investment in Novarc Technologies is supporting robotics and AI innovation in B.C. and helping to advance industrial manufacturing industries for future economic growth. This investment aligns with InBC’s investment theme to innovate for the future.
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