Novarc Technologies, a Canadian robotics company specializing in automated welding solutions, has secured $50 million in Series B funding. Led by Export Development Canada (EDC) and supported by Graham Partners, Seaspan, and InBC Investment Corp, the investment will accelerate the development and commercialization of NovAI™, an AI-powered welding system designed to enhance robotic welding efficiency and adaptability.

NovAI™ uses machine vision and deep neural networks to enable robots to adjust welding parameters in real time, eliminating the need for prescanning or reprogramming. This innovation aims to improve weld quality and consistency across various industries, including shipbuilding, pipelines, and heavy manufacturing. The company plans to launch NovAI Autonomy in the summer of 2025, marking a major step toward fully adaptive robotic welding systems.

With this funding, Novarc intends to expand its market presence beyond North America and further develop AI-driven welding automation. Investors and partners highlight the system’s potential to revolutionize industrial welding, addressing labor shortages and increasing productivity. The company’s ongoing collaborations, including its work with Seaspan, demonstrate the impact of automation in high-demand welding applications.

Source:

NOVARC RAISES $50 MILLION SERIES B TO EXPAND ITS AI-POWERED MACHINE VISION NOVAI™ FOR AUTOMATED WELDING SOLUTIONS
Funding to accelerate development and commercialization of intelligent adaptive welding systems for cobots and articulated robots
Financial PostGlobeNewswire
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