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North Vancouver-Based Robotics Company Novarc Technologies Raises $2.6 Million Growth Financing From BDC Capital

Date:

Topics: Funding Event

Organizations: Novarc Technologies, 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.

Read more at BC Tech News