Seaspan Boosts Investment in Automated Welding Technology
Seaspan Shipyards has announced a $5 million investment in Novarc Technologies Inc., a North Vancouver-based full-stack AI robotics company specializing in the design and manufacturing of automated welding solutions.
The funding will fuel product development and commercialization of AI-driven solutions which promise to increase industrial productivity.
Seaspan has been a strategic partner and early adopter of Novarc’s welding automation technology since 2017, when it invested $500,000 during Novarc’s Seed Round offering.
Since then, Novarc’s Spool Welding Robot has been installed at both Vancouver Drydock and Victoria Shipyards, where it helps to drive worker productivity and weld quality during large, complex ship repair and maintenance projects.
The latest investment is part of a Series B funding round totaling $50 million and led by existing investors Export Development Canada and Graham Partners, along with Seaspan. It is part of Seaspan’s Value Proposition commitment under the National Shipbuilding Strategy (NSS).
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