# Ulemco funding: rounds and investors > Ulemco has raised $10M across 3 rounds since 2024. Investors include Scottish Enterprise, Mercia Asset Management and Northern Powerhouse Investment Fund. Source: https://millionrounds.com/company/ulemco (Millionrounds; every figure on the page links to its filing or article) United Kingdom · [Funded startup](https://millionrounds.com/companies) # Who invested in *Ulemco* 3 rounds we have observed, with the 5 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. Automotive & EVs Raised 12 months ago Funding summary Updated 26 Oct 2026 **$10M** raised across 3 rounds since 2024, from 3 sources **$6.3M** Venture **$1.7M** Round **$2.4M** Debt - **Latest round:** Debt, $2.4M Nov 2025 - **Biggest round:** $6.3M Venture · May 2024 - **Step-up i:** 1.4× - **Investors:** 5 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. 2025 **$6.3M** Venture **$1.7M** Round **$2.4M** Debt - **First round:** Venture, $6.3M - **Biggest round:** $6.3M - **Usual gap between rounds:** 14 months ## The rounds - **Nov 2025** Debt **$2.4M** *1 new* *3 returning* [Innovate UK](https://millionrounds.com/fund/innovate-uk) [Scottish Enterprise](https://millionrounds.com/fund/scottish-enterprise) [Mercia Asset Management](https://millionrounds.com/fund/mercia-ventures) [Northern Powerhouse Investment Fund](https://millionrounds.com/fund/northern-powerhouse-investment-fund) Source recorded - **Jun 2025** Round **$1.7M** No investor was named in the report. Shares issued, filed with Companies House (SH01); no report of this raise yet - **May 2024** Venture **$6.3M** *4 new* [Scottish Enterprise](https://millionrounds.com/fund/scottish-enterprise) [Mercia Asset Management](https://millionrounds.com/fund/mercia-ventures) [Northern Powerhouse Investment Fund](https://millionrounds.com/fund/northern-powerhouse-investment-fund) [Advanced Propulsion Centre UK](https://millionrounds.com/fund/advanced-propulsion-centre-uk) Source recorded ## Funding filed with regulators Ulemco filed 4 raises, $4.2M in all. Filings say how much was sold and to how many investors; they never name the investors. - Jun 2025 **$343K** UK share allotment - Jun 2025 **$1.4M** UK share allotment - May 2024 **Amount not stated** UK share allotment - Feb 2024 **$2.5M** UK share allotment ## Founders and team From Ulemco's own website: 6 on the team. - **Paul Bready** Chief Financial Officer - **Amanda Lyne** Managing Director - **Andrew Goss** Non-Executive Director - **Dr Robert Joyce** Non-Executive Chairman - **Jordon Cullen** Commercial Manager - **Paul Turner** Technical Director ## 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. **Venture** 2024 **Round** 2025 **Debt** 2025 [Scottish Enterprise](https://millionrounds.com/fund/scottish-enterprise) [Mercia Asset Management](https://millionrounds.com/fund/mercia-ventures) [Northern Powerhouse Investment Fund](https://millionrounds.com/fund/northern-powerhouse-investment-fund) [Innovate UK](https://millionrounds.com/fund/innovate-uk) [Advanced Propulsion Centre UK](https://millionrounds.com/fund/advanced-propulsion-centre-uk) ## Everyone who backed them [Scottish Enterprise](https://millionrounds.com/fund/scottish-enterprise) Government **2** rounds [Mercia Asset Management](https://millionrounds.com/fund/mercia-ventures) VC firm **2** rounds [Northern Powerhouse Investment Fund](https://millionrounds.com/fund/northern-powerhouse-investment-fund) VC firm **2** rounds [Innovate UK](https://millionrounds.com/fund/innovate-uk) VC firm **1** round [Advanced Propulsion Centre UK](https://millionrounds.com/fund/advanced-propulsion-centre-uk) Government **1** round Missing a round, or an investor who was in one? [Tell us](https://millionrounds.com/corrections?slug=ulemco). ## Quick answers about Ulemco ### Who invested in Ulemco? Ulemco's investors include Scottish Enterprise, Mercia Asset Management, Northern Powerhouse Investment Fund, Innovate UK and Advanced Propulsion Centre UK. ### How much has Ulemco raised? Ulemco has raised $10M across 3 rounds since 2024. ### When did Ulemco last raise? Ulemco's most recent round was a Debt of $2.4M in Nov 2025. ### What was Ulemco's biggest round? Ulemco's largest round on record is $6.3M (Venture), in May 2024. ### Who backed Ulemco first? Ulemco's first round on record, in May 2024, was backed by Scottish Enterprise, Mercia Asset Management and Northern Powerhouse Investment Fund and 1 others. ### What stage is Ulemco at? Ulemco's latest named round is a Debt, in Nov 2025. ### Where is Ulemco based? Ulemco is based in the United Kingdom. ## Companies like Ulemco In the same sector, and raised in the last eighteen months. [**Go Eve** $6.1M · Oct 2026](https://millionrounds.com/company/go-eve)[**Rightcharge** $1.4M · Sept 2026](https://millionrounds.com/company/rightcharge)[**TOGL Energy** $1.1M · Sept 2026](https://millionrounds.com/company/togl-energy)[**Breathe Battery Technologies** $132M · Aug 2026](https://millionrounds.com/company/breathe-battery-technologies)[**Nyobolt** $155M · Aug 2026](https://millionrounds.com/company/nyobolt)[**Holdson** $2.8M · Jul 2026](https://millionrounds.com/company/holdson) ## Find investors like these Search every investor by what they have actually funded, then narrow to your stage and market. Free. Open the investor searchOr these rounds in the app