VANCOUVER, CANADA, Nov. 21, 2024 (GLOBE NEWSWIRE) — Novarc Technologies Inc., a Canadian-based robotics company, specializing in the design and manufacturing of cobots and computer vision AI for automated welding applications, today announced the company has been ranked No. 375 on the Deloitte Technology Fast 500™, a ranking of the 500 fastest-growing technology, media, telecommunications, life sciences, fintech, and energy tech companies in North America, now in its 30th year. Novarc grew 302 % during this period.
“We are thrilled to be nominated to the Deloitte Technology Fast 500 list among those companies driving innovation in North America. Novarc’s revenue growth would not be achieved without our team’s commitment and dedication to solving the world’s demand for infrastructure,” says Soroush Karimzadeh, CEO of Novarc.
“For 30 years we’ve been celebrating companies that are actively driving innovation,” said Steve Fineberg, vice chair, U.S. technology sector leader, Deloitte. “Significantly, we also saw a breakthrough in performance of private companies, with the highest number of private companies named to the list in our program’s history. This year’s winners have shown they have the vision and expertise to continue to perform at a high level, and that deserves to be celebrated.”
“Innovation, transformation and disruption of the status quo are at the forefront for this year’s Technology Fast 500 list, and there’s no better way to celebrate 30 years of program history,” said Christie Simons, partner, Deloitte & Touche LLP and industry leader for technology, media and telecommunications within Deloitte’s Audit & Assurance practice. “This year’s winning companies have demonstrated a continuous commitment to growth and remarkable consistency in driving forward progress. We extend our congratulations to all of this year’s winners — it’s an incredible time for innovation.”
About the 2024 Deloitte Technology Fast 500:
Now in its 30th year, the Deloitte Technology Fast 500 provides a ranking of the fastest-growing technology, media, telecommunications, life sciences, fintech, and energy tech companies — both public and private — in North America. Technology Fast 500 award winners are selected based on percentage fiscal year revenue growth from 2020 to 2023.
In order to be eligible for Technology Fast 500 recognition, companies must own proprietary intellectual property or technology that is sold to customers in products that contribute to a majority of the company’s operating revenues. Companies must have base-year operating revenues of at least US$50,000, and current-year operating revenues of at least US$5 million. Additionally, companies must be in business for a minimum of four years and be headquartered within North America.
About Novarc Technologies Inc.:
Novarc Technologies is a full-stack robotics company specializing in the design and manufacturing of cobots and AI-based machine vision solutions for autonomous welding. Novarc’s Spool Welding Robot (SWR™) is the world’s first of its kind in pipe welding applications. As a proven pioneer in the field, Novarc’s team is dedicated to solving challenging welding automation problems that improve customers’ bottom line.
For more information, visit http://www.novarctech.com
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