Novarc Technologies Secures $50 Million to Advance AI Welding Solutions
Vancouver, Canada, 12th March 2025 – An automated welding solution company based in Vancouver, Novarc Technologies Inc., raised a total of $50 million in the Series B investment round.
The funding was spearheaded by Export Development Canada (EDC) and followed by Graham Partners, Seaspan, and InBC Investment Corp.“We have invested strategically to assist them in achieving their goals,” explains seaspan.com.
The funding will enable welding robots operation accuracy to reach a level comparable to that of trained welders with the help of NovAI™, the intelligent adaptive welding system currently under development.
Automated systems, along with machine vision and deep neural networks, allow NovAI™ to achieve high quality welding while eliminating prescanning and robotic reprogramming. The scheduled release for the NovAI™ Autonomy product is the Summer of 2025.
Soroush Karimzadeh, Novarc Technologies’ CEO, proclaimed that, “We are deeply pleased to report that Novarc has raised more funding, most of which comes from our current investors. This ongoing assistance demonstrates the fidelity with which investors back our effort to automate the welding industry.”
Guillermo Freire from EDC’s Mid-Market Group remarked, “At EDC, we are convinced that Novarc’s technology will mark a turning point for industrial manufacturing by dealing with the necessity of automation.”
Having partnered with and invested in Novarc since 2017, Seaspan has been one of the first adopters of Novarc’s welding automation technology by installing the Spool Welding Robot (SWR) at Vancouver Drydock and Victoria Shipyards.
According to Tony Winter, Vice President and General Manager at Victoria Shipyards noted, “There have been remarkable cost savings as well as improvements in quality in our pipe shop.” With the new funding, Novarc will be able to further increase its R&D spending in hopes of raising the benchmarks on productivity and efficiency in manufacturing.
The company aims to enhance its market reach while persistently innovating to satiate clientele needs.
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