# RAD Propulsion funding: rounds and investors > RAD Propulsion has raised $23M across 8 rounds since 2021. Investors include The FSE Group and Mercia Asset Management. Every round with its source. Source: https://millionrounds.com/company/rad-propulsion (Millionrounds; every figure on the page links to its filing or article) United Kingdom · [Venture startup](https://millionrounds.com/companies) # Who invested in *RAD Propulsion* 8 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. Manufacturing Raised 4 months ago Funding summary Updated 26 Oct 2026 **$23M** raised across 8 rounds since 2021, from 8 sources **$1.8M** Round **$368K** Round **$1.6M** Round **$3.6M** Round **$5.5M** Venture **$272K** Round **$3.9M** Round **$5.9M** Venture - **Latest round:** Venture, $5.9M Jul 2026 - **Step-up i:** 1.5× - **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. 2022 2023 2024 2025 2026 **$1.8M** Round **$368K** Round **$1.6M** Round **$3.6M** Round **$5.5M** Venture **$272K** Round **$3.9M** Round **$5.9M** Venture - **First round:** Round, $1.8M - **Biggest round:** $5.9M - **Usual gap between rounds:** 5 months ## The rounds - **Jul 2026** Venture **$5.9M** *1 new* *1 returning* [Mercia Asset Management](https://millionrounds.com/fund/mercia-ventures) [The FSE Group](https://millionrounds.com/fund/the-fse-group) Source recorded - **Feb 2026** Round **$3.9M** No investor was named in the report. Shares issued, filed with Companies House (SH01); no report of this raise yet - **Oct 2025** Round **$272K** No investor was named in the report. Shares issued, filed with Companies House (SH01); no report of this raise yet - **Jun 2024** Venture **$5.5M** *1 new* [The FSE Group](https://millionrounds.com/fund/the-fse-group) Source recorded - **Dec 2023** Round **$3.6M** No investor was named in the report. Shares issued, filed with Companies House (SH01); no report of this raise yet - **Apr 2023** Round **$1.6M** No investor was named in the report. Shares issued, filed with Companies House (SH01); no report of this raise yet - **Apr 2022** Round **$368K** No investor was named in the report. Shares issued, filed with Companies House (SH01); no report of this raise yet - **Nov 2021** Round **$1.8M** No investor was named in the report. Shares issued, filed with Companies House (SH01); no report of this raise yet ## Funding filed with regulators RAD Propulsion filed 11 raises, $12M in all. Filings say how much was sold and to how many investors; they never name the investors. - Apr 2026 **$676K** UK share allotment - Mar 2026 **$345K** UK share allotment - Feb 2026 **$2.8M** UK share allotment - Oct 2025 **$272K** UK share allotment - Apr 2024 **$1.5M** UK share allotment - Apr 2024 **$293K** UK share allotment - Feb 2024 **$529K** UK share allotment - Dec 2023 **$1.3M** UK share allotment - Apr 2023 **$1.6M** UK share allotment - Apr 2022 **$368K** UK share allotment - Nov 2021 **$1.8M** UK share allotment ## Founders and team From RAD Propulsion's own website: 2 founders, 6 on the team. **Dan Hook** Co-founder / CEO **Richard Daltry** Co-founder / director - **Dave Martin** Chief operating officer - **Pete Byford** Chief technology officer - **Sam Pickering** Head of products - **Vicki Realff** Head of marketing - **Chris Shepherd** Business development director - **John Daltry** Product designer ## 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. **Round** 2021 **Round** 2022 **Round** 2023 **Round** 2023 **Venture** 2024 **Round** 2025 **Round** 2026 **Venture** 2026 [The FSE Group](https://millionrounds.com/fund/the-fse-group) [Mercia Asset Management](https://millionrounds.com/fund/mercia-ventures) ## Everyone who backed them [The FSE Group](https://millionrounds.com/fund/the-fse-group) VC firm **2** rounds [Mercia Asset Management](https://millionrounds.com/fund/mercia-ventures) VC firm **1** round Missing a round, or an investor who was in one? [Tell us](https://millionrounds.com/corrections?slug=rad-propulsion). ## Also claim to have backed them This firm lists RAD Propulsion as a portfolio company on their own website, but no report of a round names it. They are the firms' own claims, kept apart from the rounds above. [oneplanet.capital](https://millionrounds.com/fund/oneplanet-capital) VC firm Per its own site ## Quick answers about RAD Propulsion ### Who invested in RAD Propulsion? RAD Propulsion's investors include The FSE Group and Mercia Asset Management. ### How much has RAD Propulsion raised? RAD Propulsion has raised $23M across 8 rounds since 2021. ### When did RAD Propulsion last raise? RAD Propulsion's most recent round was a Venture of $5.9M in Jul 2026. ### What was RAD Propulsion's biggest round? Its most recent round, $5.9M in Jul 2026, is also its largest on record. ### Who backed RAD Propulsion first? RAD Propulsion's first round on record, in Jun 2024, was backed by The FSE Group. ### What stage is RAD Propulsion at? RAD Propulsion's latest named round is a Venture, in Jul 2026. ### Where is RAD Propulsion based? RAD Propulsion is based in the United Kingdom. ## Companies like RAD Propulsion In the same sector, and raised in the last eighteen months. 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