Funding to accelerate development and commercialization of intelligent adaptive welding systems for cobots and articulated robotsVANCOUVER, CANADA, March 11, 2025 (GLOBE NEWSWIRE) -- Novarc Technologies Inc.("Novarc”), a full-stack AI robotics company specializing in the design and manufacturing of automated welding solutions, announced today the company has raised $50 million in a Series B funding round led by Export Development Canada (EDC), Canada’s export credit agency, with participation from private investment firm Graham Partners, Seaspan (one of Canada’s leading shipbuilders), and BC-based strategic investment fund, InBC Investment Corp (InBC).
We are proud to work with the Novarc team, whose cutting-edge technology is advancing industrial manufacturing in B.C., as well as in other markets, supporting our future economic growth.” InBC is a strategic investment fund established by the Province of British Columbia (B.C.) to invest in growing, innovative B.C.companies, supporting key growth sectors, creating and retaining jobs, and driving economic growth for communities across B.C. "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.
This continued support is a testament to the confidence our investors have in our mission to revolutionize the welding industry through advanced automation solutions,” says Soroush Karimzadeh, CEO of Novarc Technologies. "At EDC, we believe Novarc's technology will be a catalyst for significant advancements in the industrial manufacturing sector, addressing the critical need for automation," says Guillermo Freire, Senior Vice-President, Mid-Market Group, EDC.
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