Calgary-based startup Ultimarii has secured $5.2 million to accelerate how major infrastructure projects get approved and built across Canada.
Co-founded by technology entrepreneur Josh Malate, formerly of Athennian, and Doug Schweitzer, Alberta’s former Minister of Justice and Minister of Jobs, Economy and Innovation, Ultimarii is tackling one of the country’s toughest challenges: the slow pace of regulatory approval.
“In Canada, the conversation has shifted from whether we should build to how we can build faster while maintaining rigorous standards—and that requires innovation at every step of the approval pathway,” said Schweitzer. “If we want ports, energy corridors, critical minerals and nuclear power approved this decade—not the next—we have to modernize the process with technology that’s transparent, reliable and built for Canada’s regulatory reality.”
AI for Regulators and Industry
Ultimarii’s AI-enabled platform can assess project feasibility in minutes, rapidly analyze thousands of pages of regulatory filings, and pinpoint risks that often lead to years of delay. By surfacing critical issues and comparing them against historical approvals, the platform helps regulators and project proponents focus resources where they matter most.
Rather than a broad AI tool, Ultimarii combines technology with managed services, making adoption easier for lawyers, regulatory professionals, utilities, and energy companies. The startup already counts 20 enterprise-grade customers, including national law firms and utilities building transmission projects.
Backed by Investors and Partners
The $5.2 million raise combines $2 million raised last year, $2.5 million closed this July, and non-dilutive support from Alberta Innovates, IRAP, and the Opportunity Calgary Investment Fund (OCIF). The latest round was led by Staircase Ventures, with participation from Alpaca VC out of New York and Scale Good Fund.
“Ultimarii exemplifies the best of Canadian innovation – leveraging world-class talent to create solutions with significant, long-term, positive impact,” said Janet Bannister, Founder and Managing Partner of Staircase Ventures.
Ultimarii’s momentum is reinforced by collaborations with the Alberta Machine Intelligence Institute (Amii), Alberta Innovates, OCIF, and PrairiesCan.
“Canada’s strength in AI stems from our ability to convert world-class research into real-world solutions,” said Cam Linke, CEO of Amii. “Partnerships like this are vital to driving innovation and ensuring Canadian leadership in the global AI race.”
Senior Advisors Strengthening Strategy
Ultimarii is guided by senior advisors with deep regulatory and industry expertise, including Grant Sprague, former Alberta Deputy Minister of Energy, and Gitane De Silva, former CEO of the Canada Energy Regulator, alongside other industry leaders. Their involvement bolsters Ultimarii’s ability to bridge regulators, industry, and the public in building a more predictable and trusted approval process.
Nation-Building Through Innovation
For Malate, who helped raise more than $60 million at Athenian, Ultimarii represents a more capital-efficient approach to company building—and one tied closely to Canada’s economic future.
With Mark Carney recently naming Calgary as home to Canada’s new Major Projects Office, Ultimarii sees its role as nation-building through innovation.
“Raising this capital is great, but the function is clear—we need to build projects faster,” Malate told Calgary.tech. “There’s only so much you can do on the policy side. Industry innovation has to come to the table too.”
Leave a Reply