An ultrasonic flowmeter has been developed for further applications in cryogenic conditions and for measuring flow rate fluctuations in the range of 0 to 70 Hz. The prototype was installed in a flow test rig and was validated experimentally both in steady and unsteady conditions for water flows. A Coriolis flow meter was used for the calibration under steady state conditions, whereas in the unsteady case the validation was done simultaneously against two methods, the particle image velocimetry (PIV) and with pressure transducers flush installed on the wall of the pipe. The results show that the developed flowmeter and the proposed methodology can accurately measure the frequency and the amplitude of the unsteady fluctuations in the experimental range of 0-9 l/s of the mean main flow rate and 0-70 Hz of the imposed disturbances.