Utricularia multicaulis is a very small annual carnivorous plant that belongs to the genus Utricularia. It is native to Bhutan, Burma, China, India, and Nepal. U. multicaulis grows as a lithophyte or terrestrial plant on wet rocks or open swampy meadows with mosses at altitudes from 1,800 m (5,906 ft) to 4,000 m (13,123 ft). It was originally described by Daniel Oliver in 1859.

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