# Pulpex funding: rounds and investors

> Pulpex has raised $62M across 4 rounds since 2021. Investors include National Wealth Fund. Every round with its source.

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

United Kingdom · [Venture startup](https://millionrounds.com/companies)

# Who invested in *Pulpex*

4 rounds we have observed, with the one investor 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.

Manufacturing

Raised 9 months ago

Funding summary Updated 26 Oct 2026

**$62M** raised across 4 rounds since 2021, from 4 sources

**$18M** Round **$28M** Round **$17M** Round

- **Latest round:** Venture Feb 2026
- **Biggest round:** $28M Round · Jun 2023
- **Investors:** 1

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.

2022 2023 2024 2025 2026

**$18M** Round

**$28M** Round

**$17M** Round

**?** Venture

- **First round:** Round, $18M
- **Biggest round:** $28M
- **Usual gap between rounds:** 19 months

## The rounds

- **Feb 2026** Venture **Amount undisclosed** *1 new* [National Wealth Fund](https://millionrounds.com/fund/national-wealth-fund) Source recorded
- **Sept 2025** Round **$17M** No investor was named in the report. Shares issued, filed with Companies House (SH01); no report of this raise yet
- **Jun 2023** Round **$28M** No investor was named in the report. Shares issued, filed with Companies House (SH01); no report of this raise yet
- **Nov 2021** Round **$18M** No investor was named in the report. Shares issued, filed with Companies House (SH01); no report of this raise yet

## Funding filed with regulators

Pulpex filed 6 raises, $62M in all. Filings say how much was sold and to how many investors; they never name the investors.

- Sept 2025 **$17M** UK share allotment
- Aug 2023 **$1.5M** UK share allotment
- Jul 2023 **$1.6M** UK share allotment
- Jun 2023 **$24M** UK share allotment
- Nov 2021 **$793K** UK share allotment
- Nov 2021 **$17M** UK share allotment

## Founders and team

From Pulpex's own website: 7 on the team.

- **Sandy Westwater** CEO
- **Euan Burns** CTO
- **Simon Haworth** CFO
- **Adam Cooper** Business Support Director
- **John Harty** Finance Director
- **Kirsty Wainwright** General Manager Westway
- **Victoria Callaghan** Technical Sales Director

## Everyone who backed them

[National Wealth Fund](https://millionrounds.com/fund/national-wealth-fund) Government **1** round

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

## Quick answers about Pulpex

### Who invested in Pulpex?

Pulpex's investors include National Wealth Fund.

### How much has Pulpex raised?

Pulpex has raised $62M across 4 rounds since 2021. One round did not disclose an amount, so the total is a floor.

### When did Pulpex last raise?

Pulpex's most recent round was a Venture in Feb 2026.

### What was Pulpex's biggest round?

Pulpex's largest round on record is $28M, in Jun 2023.

### Who backed Pulpex first?

Pulpex's first round on record, in Feb 2026, was backed by National Wealth Fund.

### What stage is Pulpex at?

Pulpex's latest named round is a Venture, in Feb 2026.

### Where is Pulpex based?

Pulpex is based in the United Kingdom.

## Companies like Pulpex

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

[**HydRegen** $12M · Oct 2026](https://millionrounds.com/company/hydregen)[**Extend Robotics** $4.7M · Oct 2026](https://millionrounds.com/company/extend-robotics)[**Dragonfly Advanced Materials** $2.0M · Sept 2026](https://millionrounds.com/company/dragonfly-advanced-materials)[**AcouBatt** $3.0M · Sept 2026](https://millionrounds.com/company/acoubatt)[**Isometric** $50M · Sept 2026](https://millionrounds.com/company/isometric)[**Rheon Labs** $208M · Sept 2026](https://millionrounds.com/company/rheon-labs)

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