# Ultimarii funding: rounds and investors > Ultimarii has raised $11M across 2 rounds since 2025. Investors include SE Ventures, Alpaca VC and BDC Capital. Every round with its source. Source: https://millionrounds.com/company/ultimarii (Millionrounds; every figure on the page links to its filing or article) Canada · [Series A startup](https://millionrounds.com/companies) # Who invested in *Ultimarii* 2 rounds we have observed, with the 7 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 Construction Regtech Raised 1 month ago Funding summary Updated 26 Oct 2026 **$11M** raised across 2 rounds since 2025, from 2 sources **$1.9M** Seed **$9.4M** Series A - **Latest round:** Series A, $9.4M Sept 2026 - **Led by:** BDC Capital and Mistral - **Step-up i:** 4.9× - **Investors:** 7 (2 led) 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 **$1.9M** Seed **$9.4M** Series A - **First round:** Seed, $1.9M - **Biggest round:** $9.4M - **Between rounds:** 14 months ## The rounds - **Sept 2026** Series A **$9.4M** *5 new* *2 returning* [BDC Capital](https://millionrounds.com/fund/bdc-venture-capital) Lead [Mistral](https://millionrounds.com/fund/mistral) Lead [SE Ventures](https://millionrounds.com/fund/se-ventures) [Alpaca VC](https://millionrounds.com/fund/alpaca-vc) [Royal Bank of Canada](https://millionrounds.com/fund/royal-bank-of-canada) [IRAP](https://millionrounds.com/fund/irap) [Staircase Ventures](https://millionrounds.com/fund/staircase-ventures) Reported by BetaKit - **Jul 2025** Seed **$1.9M** *2 new* [SE Ventures](https://millionrounds.com/fund/se-ventures) [Alpaca VC](https://millionrounds.com/fund/alpaca-vc) 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 **Series A** 2026 [SE Ventures](https://millionrounds.com/fund/se-ventures) [Alpaca VC](https://millionrounds.com/fund/alpaca-vc) [BDC Capital](https://millionrounds.com/fund/bdc-venture-capital) L [Mistral](https://millionrounds.com/fund/mistral) L [Royal Bank of Canada](https://millionrounds.com/fund/royal-bank-of-canada) [IRAP](https://millionrounds.com/fund/irap) [Staircase Ventures](https://millionrounds.com/fund/staircase-ventures) ## Everyone who backed them [SE Ventures](https://millionrounds.com/fund/se-ventures) Corporate VC **2** rounds [Alpaca VC](https://millionrounds.com/fund/alpaca-vc) VC firm **2** rounds [BDC Capital](https://millionrounds.com/fund/bdc-venture-capital) VC firm **1** round, led 1 [Mistral](https://millionrounds.com/fund/mistral) VC firm **1** round, led 1 [Royal Bank of Canada](https://millionrounds.com/fund/royal-bank-of-canada) Growth equity **1** round [IRAP](https://millionrounds.com/fund/irap) VC firm **1** round [Staircase Ventures](https://millionrounds.com/fund/staircase-ventures) VC firm **1** round Missing a round, or an investor who was in one? [Tell us](https://millionrounds.com/corrections?slug=ultimarii). ## Also claim to have backed them These 4 firms list Ultimarii 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. [Corigin Ventures](https://millionrounds.com/fund/corigin-ventures) VC firm Per its own site [ScaleGood Fund](https://millionrounds.com/fund/scalegood-fund-lp) VC firm Per its own site [The Opportunity Calgary Investment Fund](https://millionrounds.com/fund/the-opportunity-calgary-investment-fund) Government Per its own site [Thin Air Labs](https://millionrounds.com/fund/thin-air-labs) VC firm Per its own site ## Quick answers about Ultimarii ### Who invested in Ultimarii? Ultimarii's investors include SE Ventures, Alpaca VC, BDC Capital, Mistral and Royal Bank of Canada, and 2 more on record. BDC Capital led its latest round. ### How much has Ultimarii raised? Ultimarii has raised $11M across 2 rounds since 2025. ### When did Ultimarii last raise? Ultimarii's most recent round was a Series A of $9.4M in Sept 2026, led by BDC Capital. ### What was Ultimarii's biggest round? Its most recent round, $9.4M in Sept 2026, is also its largest on record. ### Who backed Ultimarii first? Ultimarii's first round on record, in Jul 2025, was backed by SE Ventures and Alpaca VC. ### What stage is Ultimarii at? Ultimarii's latest named round is a Series A, in Sept 2026. ### Where is Ultimarii based? Ultimarii is based in Canada. ### Who led Ultimarii's rounds? BDC Capital led the Series A in 2026. ## Companies like Ultimarii In the same sector, and raised in the last eighteen months. [**Quminex** $1.1M · Oct 2026](https://millionrounds.com/company/quminex)[**Biossil** $153M · Sept 2026](https://millionrounds.com/company/biossil)[**Astrus** $20M · Sept 2026](https://millionrounds.com/company/astrus)[**Altis Labs** $31M · Sept 2026](https://millionrounds.com/company/altis-labs)[**Thri5** $5.4M · Sept 2026](https://millionrounds.com/company/thri5)[**telMAX** $294M · Sept 2026](https://millionrounds.com/company/telmax) ## 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