Ultimarii Raises $13M+ Series A

Ultimarii, a Calgary-based artificial intelligence company providing a regulatory intelligence platform for major infrastructure projects, has raised more than $13 million CAD in Series A financing. This investment brings the company's total capital raised to over $18 million and will support the expansion of its technology across Canada and the United States.

Investors

The round was led by the Business Development Bank of Canada's (BDC) Industrial Innovation Venture Fund. Additional participants include Mistral Venture Partners, as well as existing investors Staircase Ventures and Alpaca VC. The round also saw participation from more than 30 angel investors with expertise in the energy and infrastructure sectors, alongside debt financing and non-dilutive funding from the National Research Council of Canada Industrial Research Assistance Program (NRC IRAP).

Ultimarii Use of Funds

Ultimarii plans to use the new capital to substantially expand its regulatory data infrastructure, with a primary focus on building deeper global datasets for organizations such as FERC, the Texas Railroad Commission, and the EPA. The company also intends to continue investing in its enterprise privacy, security, and governance infrastructure.

About Ultimarii

Founded in Calgary, Ultimarii builds AI technology specifically designed for complex regulatory and permitting environments. The platform combines artificial intelligence with curated regulatory datasets, purpose-built workflows, and subject-matter expertise to help governments, utilities, energy producers, mining companies, and law firms streamline document-intensive regulatory processes.

Funding Details

Company Website: https://ultimarii.com

Company: Ultimarii
Raised: $13M CAD
Round: Series A
Funding Date: September 2026
Lead Investor: Business Development Bank of Canada (BDC) Industrial Innovation Venture Fund
Additional Investors: Mistral Venture Partners, Staircase Ventures, Alpaca VC, National Research Council of Canada Industrial Research Assistance Program (NRC IRAP)
Company Website: https://ultimarii.com
Software Category: Regulatory AI
Source: https://ultimarii.com/ultimarii-raises-13m-series-a-to-accelerate-critical-energy-infrastructure-across-north-america/