-
Funding will be used to advance product development in AI-powered robotic welding solutions
Novarc Technologies , a leading provider of advanced robotics solutions, announced the company has successfully completed a Series A fundraising round with Caterpillar Venture Capital Inc., a wholly-owned subsidiary of Caterpillar, 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.
Latest Fintech Interview Global Fintech Interview with Brian Halpin, SVP, SS&C Blue Prism Internal Automation
“We look forward to our collaboration with Novarc as we continue to explore the future of innovative manufacturing solutions.”
“We are thrilled to welcome Caterpillar as an investor in Novarc. Their extensive industry expertise and global presence align perfectly with our goals. This investment will fuel the development of Novarc’s AI robotic welding solutions, enabling us to revolutionize the future of welding in manufacturing automation and beyond,” said Soroush Karimzadeh, CEO of Novarc Technologies.
Mark Crawford, Director of Caterpillar Venture Capital Inc., also expressed excitement about the opportunity, “We look forward to our collaboration with Novarc as we continue to explore the future of innovative manufacturing solutions.”
Read More About Fintech Interview: Global Fintech Interview with Ralph Dangelmaier, CEO & Board Member at BlueSnap
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.
“With Caterpillar’s support, we are well-positioned to unlock new opportunities and transform the way manufacturing processes are executed,” adds Karimzadeh. “Together, through this relationship, we look forward to delivering innovative solutions that provide productivity, quality, and safety for our customers across the globe.”
Browse The Complete Interview About Fintech : Global Fintech Interview with Marc Kuzak, Vice President of Legal at Yapily
[To share your insights with us, please write to sghosh@martechseries.com]
