Novarc Technologies
Canvas Category Machinery : Industrial Robot : Cobot
We are defining the New Collaborative Welding Workplace. Our team is focused on incorporating human skill enhanced by technology to increase profits for fabricators. The welding industry is on the brink of a welder shortage crisis. Due to aging skilled welders and less people taking up the trade there will be a shortage of 314,000 welders by 2024. Our team is passionate about helping guide the industry in the right direction. Our growing team of all-stars at Novarc combined with our proprietary robotic welding software and our pipe welding machine technology is making a big impact today and for years to come.
Assembly Line
🦾 Novarc Technologies Completes Series A Fundraising Round With Caterpillar Venture Capital
Novarc Technologies Inc., a leading provider of advanced robotics solutions, announced today the company has successfully completed a Series A fundraising round with Caterpillar Venture Capital Inc., a wholly-owned subsidiary of Caterpillar Inc. ((NYSE: CAT), a global leader in the manufacturing of construction and mining equipment). Caterpillar joins Graham Partners, Export Development Canada (EDC) and other syndicate investors, and provides strategic support to Novarc’s vision to accelerate the development of a ground-breaking AI-powered robotics platform.
Novarc plans to leverage this strategic relationship to further enhance disruptive technology and expand its global reach. The adoption of a welding solution enhanced by artificial intelligence is fast becoming a necessity among fabrication facilities that want to remain competitive. The additional funds will be instrumental in advancing the development of Novarc’s AI-powered robotic solutions which provide a major step forward in manufacturing, precision, efficiency, and flexibility.
Innovative North Vancouver company receives more than $2 million to market welding robots internationally
In North Vancouver, Novarc Technologies Inc. is developing a unique automation solution to help solve the global manufacturing bottleneck. Novarc’s Spool Welding Robot (SWR) is the world’s first of its kind in pipe welding machines and applications giving traditional industries a route to automation.
Today, the Honourable Jonathan Wilkinson, Minister of Natural Resources and Member of Parliament for North Vancouver, on behalf of the Honourable Harjit S. Sajjan, Minister of International Development and Minister responsible for the Pacific Economic Development Agency of Canada (PacifiCan), announced $2,065,000 in funding to this innovative company.
AI improves welding performance
However, fully manual welding simply isn’t an option for higher-turnover jobs: Bidding competitively for new jobs often increasingly means using some level of automation. What level, exactly? That all depends, but what’s certain is that preprogramming weld parameters never covers all the variables at play.
More than mere quality assurance, it is welding’s fundamental unpredictability that Novarc Technologies wants to help fabricators master with the NovEye vision-based, artificial intelligence (AI)-guided control system on its latest Spool Welding Robot (SWR). And while the orbital welding that the SWR does is nothing new, the AI and machine learning Novarc is using to drive the unit is.
“Welding science and engineering … includes many disciplines—from physics, plasma, electronics, electrical engineering, and material science,” Asadi said. “All that comes together in a small arc in the weld tool that you are seeing in the tip of the electrode. There are many sciences going on in that small portion. When you formulate something and you understand the physics behind it and all the governing equations, regardless of how complicated the process is, they are more or less following those governing equations.
NovEye™ - AI In Arc Welding
North Vancouver-Based Robotics Company Novarc Technologies Raises $2.6 Million Growth Financing From BDC Capital
BDC Capital has provided $2.6 million in growth capital to North Vancouver-based robotics company Novarc Technologies through its new intellectual property (IP) Backed Financing Fund. Their cutting-edge Spool Welding Robot (SWR) allows pipe fabrication companies serving the oil & gas, building construction, and shipbuilding industries to be more competitive when bidding on projects by dramatically increasing the productivity and quality of their pipe welding operations.
They will use the proceeds of this transaction to increase the company’s technical capabilities, expand their team with strategic hires across sales, marketing, finance and R&D, as well as support their growth plans.