📝 Ultimarii raises $9.4M

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Calgary-based regulatory artificial intelligence startup Ultimarii secured a $9.4 million Series A, bringing its total capital raised to date to more than $13 million. Led by the Business Development Bank of Canada’s Industrial Innovation Venture Fund and Mistral Venture Partners alongside dozens of angel investors and government research programs, the financing supports the expansion of Ultimarii's automated permitting platform across North America. The company uses machine learning to navigate complex environmental and utility approvals, aiming to eliminate regulatory bottlenecks for major infrastructure, energy, and mining developments across Canada and with prominent regulatory bodies in the United States.

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