Novarc Technologies Inc., a prominent provider of advanced robotics solutions, has successfully concluded a Series A fundraising round with Caterpillar Venture Capital Inc., a subsidiary of Caterpillar Inc., a global leader in construction and mining equipment manufacturing. The investment from Caterpillar is expected to accelerate the development of Novarc’s groundbreaking AI-powered robotics platform.
Soroush Karimzadeh, CEO of Novarc Technologies, expressed excitement about Caterpillar’s involvement, noting that their industry expertise and global presence align perfectly with Novarc’s goals. The investment will particularly focus on advancing Novarc’s AI robotic welding solutions, which have the potential to revolutionize welding in manufacturing automation and beyond.
Mark Crawford, Director of Caterpillar Venture Capital Inc., also shared enthusiasm for the collaboration, stating that they are eager to explore innovative manufacturing solutions with Novarc.
The strategic partnership with Caterpillar is expected to help Novarc further develop its disruptive technology and expand its global footprint. The funds from this investment will play a crucial role in advancing the development of AI-powered robotic solutions for welding, offering improved manufacturing precision, efficiency, and flexibility.
Karimzadeh emphasized that the collaboration with Caterpillar positions Novarc to unlock new opportunities and transform manufacturing processes. The partnership aims to deliver innovative solutions that enhance productivity, quality, and safety for customers worldwide.
