# Elm AI funding: rounds and investors

> Elm AI has raised $5.8M across 2 rounds since 2025. Investors include Ring Capital and Engineering Capital. Every round with its source.

Source: https://millionrounds.com/company/elm-ai (Millionrounds; every figure on the page links to its filing or article)

United States · [Seed startup](https://millionrounds.com/companies)

# Who invested in *Elm AI*

2 rounds we have observed, with the 2 investors named in them. Every figure came from a named source, and where the company reported a raise to the SEC itself, that is shown beside it.

AI

Raised 2 months ago

Funding summary Updated 26 Oct 2026

**$5.8M** raised across 2 rounds since 2025, from 2 sources

**$2.0M** Seed **$3.8M** Seed

- **Latest round:** Seed, $3.8M Sept 2026
- **Step-up i:** 1.9×
- **Investors:** 2

See who backed them

## The funding story

Each circle is a round, placed by date and sized by amount. The line above is the running total.

2026

**$2.0M** Seed

**$3.8M** Seed

- **First round:** Seed, $2.0M
- **Biggest round:** $3.8M
- **Between rounds:** 17 months

## The rounds

- **Sept 2026** Seed **$3.8M** *2 new* [Ring Capital](https://millionrounds.com/fund/ring) [Engineering Capital](https://millionrounds.com/fund/engineering-capital) Source recorded
- **Apr 2025** Seed **$2.0M** No investor was named in the report. Source recorded

## Who was in which round

The busiest backers across the latest rounds. A filled square is a round they joined; a dark one, a round they led.

**Seed** 2025 **Seed** 2026 [Ring Capital](https://millionrounds.com/fund/ring) [Engineering Capital](https://millionrounds.com/fund/engineering-capital)

## Everyone who backed them

[Ring Capital](https://millionrounds.com/fund/ring) VC firm **1** round

[Engineering Capital](https://millionrounds.com/fund/engineering-capital) VC firm **1** round

Missing a round, or an investor who was in one? [Tell us](https://millionrounds.com/corrections?slug=elm-ai).

## Also claim to have backed them

These 2 firms list Elm AI as a portfolio company on their own websites, but no report of a round names them. They are the firms' own claims, kept apart from the rounds above.

[The Bond Fund](https://millionrounds.com/fund/the-bond-fund) VC firm Per its own site

[Very Serious Ventures](https://millionrounds.com/fund/very-serious-ventures) Angel network Per its own site

## Quick answers about Elm AI

### Who invested in Elm AI?

Elm AI's investors include Ring Capital and Engineering Capital.

### How much has Elm AI raised?

Elm AI has raised $5.8M across 2 rounds since 2025.

### When did Elm AI last raise?

Elm AI's most recent round was a Seed of $3.8M in Sept 2026.

### What was Elm AI's biggest round?

Its most recent round, $3.8M in Sept 2026, is also its largest on record.

### Who backed Elm AI first?

Elm AI's first round on record, in Sept 2026, was backed by Ring Capital and Engineering Capital.

### What stage is Elm AI at?

Elm AI's latest named round is a Seed, in Sept 2026.

### Where is Elm AI based?

Elm AI is based in the United States.

## Companies like Elm AI

In the same sector, and raised in the last eighteen months.

[**SpaceX** $42B · Oct 2026](https://millionrounds.com/company/spacex)[**xPay** $1.5M · Oct 2026](https://millionrounds.com/company/xpay)[**Albert Invent** $20M · Oct 2026](https://millionrounds.com/company/albert-invent)[**FORT Robotics** $39M · Oct 2026](https://millionrounds.com/company/fort-robotics)[**Pika** $216M · Oct 2026](https://millionrounds.com/company/pika)[**Vertical Semiconductor** $84M · Oct 2026](https://millionrounds.com/company/vertical-semiconductor)

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