# Novarc Technologies

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/novarc-technologies

- Industry: Industrial Machinery
- Headquarters: North Vancouver, Canada
- Website: www.novarctech.com
- Total disclosed funding: $71M
- Latest round: Series B (Mar 11, 2025)
- Investors on record: 6

## About

Founded in 2013 and based in North Vancouver, Canada, Novarc Technologies Inc. operates as a provider of robotics systems platform for welding and material handling. The company was founded by its CEO, Soroush Karimzadeh and CTO, Reza Abdollahi. In August 2023, Novarc Technologies Inc. raised USD 20 million in series A funding led by Graham Partners, with participation from Caterpillar Ventures and Export Development Canada. As of 2023, the company has operations in the US, Canada, Germany, UAE, and China, and its team is made up of engineers, software developers, welders, and robotic enthusiasts.

Novarc designs and commercializes collaborative robots for industrial applications. The company has two products: a spool welding robot and spool welding robot+hyperfill. The spool welding robot is a welding collaborative robot designed specifically for pipe, small pressure vessels, and other types of roll welding. It is capable of welding flanges, tees, elbows, reducers, and is used by pipe fabrication companies serving the oil & gas, building construction, and shipbuilding industries. 

Spool welding robot+hyperfill is a highly efficient, fully integrated dual torch system that uses Lincoln Electric’s patent-pending twin-wire GMAW solution, HyperFill, to maximize productivity and profitability for its customers. By using the HyperFill option, fabrication shops can expand the capabilities of their spool welding robot. The system increases heavy fabrication productivity by increasing weld deposition rates while delivering weld quality. 

The company generated revenue growth of 1235% from 2016 to 2019.

The company plans to use the August 2023 funding to expedite the development of its AI-powered robotic welding technology and accelerate its expansion program worldwide.

## Funding rounds

- Series B, Mar 11, 2025, $50M — Graham Partners, Export Development Canada, InBC Investment, Seaspan
- Series A, Aug 14, 2023, $20M — Graham Partners, Export Development Canada, Caterpillar Ventures
- Series A, Sep 27, 2022 — Graham Partners
- Seed, Mar 31, 2017, $1M — BDC Capital, Seaspan

## Investors

- BDC Capital (https://capitalatlas.ai/funds/bdc-capital) — Seed
- Seaspan — Seed, Series B
- Graham Partners (https://capitalatlas.ai/funds/graham-partners) — Series A, Series B
- Export Development Canada — Series A, Series B
- Caterpillar Ventures (https://capitalatlas.ai/funds/caterpillar-ventures) — Series A
- InBC Investment — Series B