Novarc Technologies Completes Series A Fundraising Round With Caterpillar Venture Capital
August 14, 2023
On August 14, 2023, Novarc Technologies Inc., a leading provider of advanced robotics solutions, announced the company successfully completed a Series A fundraising round with Caterpillar Venture Capital Inc., a wholly owned subsidiary of Caterpillar Inc. a global leader in the manufacturing of construction and mining equipment. Caterpillar joins Graham Partners, Export Development Canada and other syndicate investors, and provides strategic support to Novarc's vision to accelerate the development of a ground-breaking AI-powered robotics platform.
Caterpillar Venture Capital Inc. assists entrepreneurs and startups around the world to grow and scale their businesses to build today for a better tomorrow by leveraging Caterpillar's industry expertise, supply base, and independent dealer network. Caterpillar Venture Capital's focus areas of investment include energy, ESG, artificial intelligence and services that help its customers be successful.
Novarc Technologies is a Vancouver-based full-stack robotics company specializing in the design and manufacturing of cobots and AI-based machine vision solutions for autonomous welding.
McCarthy Tétrault LLP advised Caterpillar Venture Capital Inc. with a team led by Glynnis Morgan and Patrick M. Shea and that included Kyle Riddell and Emily Bawtinheimer.