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BioFlyte Expands Operations to Sandia Science and Technology Park

BioFlyte, Inc., a New Mexico startup, has announced plans to set up operations at a new 5,300 sq ft corporate facility as the Sandia Science and Technology Park. BioFlyte’s new facility will be used to ramp up both manufacturing and engineering operations as the company is growing rapidly.

BioFlyte is commercializing a revolutionary new class of fieldable biothreat sampling, detection and identification products for safety and security. This includes a whole class of aerosol mass spectrometers and associated products which protect against biological and low-volatility chemical threats.

While the technology is primarily designed to sample ambient air, liquid and powder samples can also be accepted. Regardless of sample type, the system analyzes and identifies microbes including spores, vegetative bacteria, viruses, bio-toxins and more. Their technology uses a matrix chemical coated onto a bioaerosol. Ultraviolet lasers then pulse to desorb and ionize the high molecular weight, non-volatile biomarkers in the bioaerosol. The vapor phase ions are then accelerated to the detector, and the heavy ions arrive after the smaller, lighter ions. Thus, the time-of-flight can be related directly to the ion mass.

Are you developing new technology for an existing application? Did you know your development work could be eligible for the R&D Tax Credit and you can receive up to 14% back on your expenses? Even if your development isn’t successful your work may still qualify for R&D credits (i.e. you don’t need to have a patent to qualify). To find out more, please contact a Swanson Reed R&D Specialist today or check out our free online eligibility test.

Who We Are:

Swanson Reed is one of the U.S.’ largest Specialist R&D tax advisory firms. We manage all facets of the R&D tax credit program, from claim preparation and audit compliance to claim disputes.

Swanson Reed regularly hosts free webinars and provides free IRS CE and CPE credits for CPAs. For more information please visit us at www.swansonreed.com/webinars or contact your usual Swanson Reed representative.

Strivacity Secures $20M in Series A Funding

Virginia-based startup, Strivacity, Inc., has secured $20 million in a Series A-2 funding round.

The round was led by SignalFire with participation from Ten Eleven Ventures, Mandiant founder Kevin Mandia, and Tenable co-founder Jack Huffard. The fresh cash brings Strivacity’s total raised to $28 million, which Graham, Strivacity’s CEO, says is being put toward product R&D, various go-to-market initiatives and customer support.

The company is tackling the growing challenges around authentication. Identity and access security issues are increasingly top of mind for companies. The startup allows companies to create secure business-to-business and business-to-consumer sign-in experiences.

With Strivacity’s platform, users get access to a dashboard with radio buttons and drop-down menus they can use to create sign-in flows. Strivacity handles aspects like consent management, identity verification and branding. And because it’s hosted on a scalable cloud, it can ramp up to match spikes in customer login activity for up to hundreds of millions of monthly active users.

The platform is further equipped with AI and machine learning models to bar bots from logging in and stealing data. The models look at customer behavior and usage patterns to identify any unusual activity when compared against a user’s history. When something anomalous happens, additional security steps are triggered to protect a user’s account from being hijacked.

Upcoming R&D will focus on adding new features including document-based verification and support for companies with multiple subsidiaries and divisions. In the next 12 months, Strivacity plans to nearly double its workforce from 40 employees to around 70.

Are you developing new technology for an existing application? Did you know your development work could be eligible for the R&D Tax Credit and you can receive up to 14% back on your expenses? Even if your development isn’t successful your work may still qualify for R&D credits (i.e. you don’t need to have a patent to qualify). To find out more, please contact a Swanson Reed R&D Specialist today or check out our free online eligibility test.

Who We Are:

Swanson Reed is one of the U.S.’ largest Specialist R&D tax advisory firms. We manage all facets of the R&D tax credit program, from claim preparation and audit compliance to claim disputes.

Swanson Reed regularly hosts free webinars and provides free IRS CE and CPE credits for CPAs. For more information please visit us at www.swansonreed.com/webinars or contact your usual Swanson Reed representative.

Shloop Inc Brings Sustainability to Footwear with Algae-Based Shoes

New Mexico Patent of the Month - November 2021

Shloop, Inc. – The Shoe Loop – is investing $9 million to renovate a bakery into a footwear design studio. The catch? The shoes are made from algae.

Algae is the fastest growing plant on the planet. This can be a nuisance for people who own ponds and other common sources of algae. But Shloop is turning a nuisance into a sustainable option.

The company developed their own process to turn algae into BLOOM. Ryan Hunt, a Bloom founder, believed algae could be used to remove harmful nutrients, such as phosphorus and ammonia, from industrial and agricultural waste-water. This led to a process of extensive research, where the company discovered they could place protein-rich algae biomass under significant heat, pressure, and time to create a plasticization process. This discovery opened the door for even more innovation. They could clean the environment while simultaneously providing algae-based sustainable materials to the world.

Now, Shloop will use the BLOOM technology to produce sustainable footwear that won’t take up space in landfills or contribute to pollution. Their renovation will convert a 30,000 sq ft historic bakery in Mississippi into a footwear design studio and factory, employing 56 people. The shoes will also be able to be repaired or recycled providing a closed loop for shoes made by Shloop.

Are you developing new technology for an existing application? Did you know your development work could be eligible for the R&D Tax Credit and you can receive up to 14% back on your expenses? Even if your development isn’t successful your work may still qualify for R&D credits (i.e. you don’t need to have a patent to qualify). To find out more, please contact a Swanson Reed R&D Specialist today or check out our free online eligibility test.

Who We Are:

Swanson Reed is one of the U.S.’ largest Specialist R&D tax advisory firms. We manage all facets of the R&D tax credit program, from claim preparation and audit compliance to claim disputes.

Swanson Reed regularly hosts free webinars and provides free IRS CE and CPE credits for CPAs. For more information please visit us at www.swansonreed.com/webinars or contact your usual Swanson Reed representative.

Early Stage Cancer Detection Company, Mercy BioAnalytics, Secures $41M in Series A

Mercy BioAnalytics, a company developing early-stage cancer detection technology, has raised $41M in Series A funding.

The round was led by Novalis LifeSciences, with participation from Sozo Ventures, Hatteras Venture Partners, iSelect Fund, American Cancer Society BrightEdge, Broadway Angels, Labcorp and Bruker.

The company intends to use the funds to advance development and commercialization of its Halo test, for high-risk lung cancer screening, its lead clinical indication, and to advance clinical programs in additional indications, including ovarian cancer.

The earlier cancer is detected, the greater the chances of beating it. Mercy BioAnalytics’ Halo Test is designed as a non-invasive, blood-based assay which analyzes single extracellular vesicles. These vesicles exist at high abundance in circulation, even when cancer is in its early stages. Since these vesicles are tumor-specific, the analysis can be run with incredible specificity and accuracy. Mercy’s initial focus is the early detection of ovarian and lung cancers.

Are you developing new technology for an existing application? Did you know your development work could be eligible for the R&D Tax Credit and you can receive up to 14% back on your expenses? Even if your development isn’t successful your work may still qualify for R&D credits (i.e. you don’t need to have a patent to qualify). To find out more, please contact a Swanson Reed R&D Specialist today or check out our free online eligibility test.

Who We Are:

Swanson Reed is one of the U.S.’ largest Specialist R&D tax advisory firms. We manage all facets of the R&D tax credit program, from claim preparation and audit compliance to claim disputes.

Swanson Reed regularly hosts free webinars and provides free IRS CE and CPE credits for CPAs. For more information please visit us at www.swansonreed.com/webinars or contact your usual Swanson Reed representative.

Springworks Farm Raises $22M to Expand Aquaponics Venture

Indiana Patent of the Month - December 2021

Springworks Farm has raised $22 million to expand its aquaponic greenhouse system that combines fish and plant farming in Maine.

The company uses aquaponics to grow their crops. This cross between hydroponics and aquaculture uses buoyant rafts, letting roots dangle in water to gather nutrients. The water has a healthy fish population which produce nutrients and waste – two things that help the plants grow. The plants, in turn, filter the water, making it safe for the fish to thrive in.

The latest funding round will support the development of their fourth aquaponic greenhouse. This new center will add 120,000 sq ft of greenhouse space in the next six years.

The expansion will allow Springworks, which already supplies more than 300 stores, to meet increasing demand for local, safe and sustainable food. By investing regionally, Springworks cuts thousands of food transportation miles for customers such as Hannaford, Whole Foods Market and Roche Bros. Supermarkets to increase access to high-quality, local food year-round.

Are you developing new technology for an existing application? Did you know your development work could be eligible for the R&D Tax Credit and you can receive up to 14% back on your expenses? Even if your development isn’t successful your work may still qualify for R&D credits (i.e. you don’t need to have a patent to qualify). To find out more, please contact a Swanson Reed R&D Specialist today or check out our free online eligibility test.

Who We Are:

Swanson Reed is one of the U.S.’ largest Specialist R&D tax advisory firms. We manage all facets of the R&D tax credit program, from claim preparation and audit compliance to claim disputes.

Swanson Reed regularly hosts free webinars and provides free IRS CE and CPE credits for CPAs. For more information please visit us at www.swansonreed.com/webinars or contact your usual Swanson Reed representative.

BC3 Technologies Secures FDA Clearance and Launches Sprayable Bandage Product

BC3 Technologies, Inc. received FDA clearance for their SEAL Hemostatic Wound Spray in February, and has since announced their plans to launch their product.

The privately held medical device company operates with the mission to change the way health care professionals and first responders manage life-threatening arterial bleeding. Each year, 40 percent of critically wounded people with arterial bleeding die in transit to the hospital. Pressure and bandages can only do so much to help when managing a bleeding wound.

The sprayable bandage is designed with an aerosol can using chitosan to speed up blood clotting and seal up a wound. The spray forms a strong barrier over the wound, offering a painless method of halting the bleeding. The product was formulated for emergency situations, surgical environments, and for the battlefield where response time to hemorrhaging is the critical difference between life and death.

The company has performed studies, finding their formulation performed better than other chitosan-based products designed to reduce hemorrhage. Use of SEAL resulted in 50 percent less blood loss than other chitosan-based dressings or granules. Its proprietary aerosol delivery system – unique in the class – helps to stop the bleeding rapidly and effectively, and it reduces the risk of wound infections by preventing the growth of harmful bacteria. This novel spray design also allows the product to be applied directly to complex 3D wound architectures and forced into openings like gunshot wounds. This makes it more effective in reaching all aspects of the wound.

Are you developing new technology for an existing application? Did you know your development work could be eligible for the R&D Tax Credit and you can receive up to 14% back on your expenses? Even if your development isn’t successful your work may still qualify for R&D credits (i.e. you don’t need to have a patent to qualify). To find out more, please contact a Swanson Reed R&D Specialist today or check out our free online eligibility test.

Who We Are:

Swanson Reed is one of the U.S.’ largest Specialist R&D tax advisory firms. We manage all facets of the R&D tax credit program, from claim preparation and audit compliance to claim disputes.

Swanson Reed regularly hosts free webinars and provides free IRS CE and CPE credits for CPAs. For more information please visit us at www.swansonreed.com/webinars or contact your usual Swanson Reed representative.

Hohonu Inc. Secures $1.8M in Pre-Seed Funding Round

Hohonu, Inc., an award winning Hawaiʻi-based climate tech startup, announced it has completed a $1.8 million pre-seed funding round to scale its efforts to provide actionable data and insights to mitigate coastal flooding both nationally and internationally including Asia and the Pacific.

The company is working to develop reliable technology and systems to acquire trustworthy and actionable data at scale. This data can then be used to help communities adapt to climate change. Through constant and extensive R&D, Hohonu uses the latest technologies in hardware, software, and data science to collect and deliver water level data. This precision monitoring and data analytics can forecast flooding, helping communities prepare before the water hits.

Since their inception, the company has deployed their real-time and low-cost technology in 95 locations across the U.S., capturing over 900,000 hours of water level data across 12 coastal states. Its existing customers include sub-agencies of the National Oceanic and Atmospheric Administration (NOAA), Environmental Consulting Firms, Coastal Managers, and Environmental NGOs.

The $1.8 million pre-seed round was filled out by climate and ocean-focused investors such as Builder’s Vision, Elemental Excelerator, TELUS Pollinator Fund for Good, and Sustainable Ocean Alliance. Also participating were Susquehanna Foundation, Blue Startups, Echo River Capital, and angel investors such as Reece Pacheco and Justin Stevens of Overlap Holdings.

Are you developing new technology for an existing application? Did you know your development work could be eligible for the R&D Tax Credit and you can receive up to 14% back on your expenses? Even if your development isn’t successful your work may still qualify for R&D credits (i.e. you don’t need to have a patent to qualify). To find out more, please contact a Swanson Reed R&D Specialist today or check out our free online eligibility test.

Who We Are:

Swanson Reed is one of the U.S.’ largest Specialist R&D tax advisory firms. We manage all facets of the R&D tax credit program, from claim preparation and audit compliance to claim disputes.

Swanson Reed regularly hosts free webinars and provides free IRS CE and CPE credits for CPAs. For more information please visit us at www.swansonreed.com/webinars or contact your usual Swanson Reed representative.

EnerVenue Announces Nickel-Hydrogen Battery Gigafactory

EnerVenue, Inc., a nickel-hydrogen battery development company, announced that it will open a one million square foot gigafactory on a 73-acre site in Shelby County, Kentucky. With generous incentives from Shelby County and the state of Kentucky, the facility will aid the company as they design, manufacture and test its nickel-hydrogen Energy Storage Vessels.

The first phase of the project will provide 450 full-time jobs and is aiming for 1 GWh of annual production. EnerVenue says it expects to invest in excess of $1 billion to expand to more than 20 GWh per year across its domestic manufacturing sites in subsequent phases.

The technology created by EnerVenue is ideally suited for grid-scale, commercial, and residential applications. First developed in the 1980s, nickel-hydrogen technology reliably served a range of aerospace applications including the Mars Rover, Hubble Telescope, and the International Space Station. EnerVenue has built on this initial technology to create commercial deployments while other non-lithium battery storage technologies are still waiting for a lab breakthrough. EnerVenue is currently producing Energy Storage Vessels in the heart of Silicon Valley and will achieve volume production in 2024 at a U.S.-based location.

The company claims that its batteries have a more than 30-year lifespan, can go through more than 30,000 cycles without experiencing degradation and offer exceptional overcharge, over-discharge, and deep-cycle capabilities.

Shelby County offered EnerVenue a generous 25-year incentive package that includes property and wage tax rebates totaling $20 million. The state of Kentucky also offered EnerVenue more than $10.3 million in tax incentives for the first phase of the company’s ramp up. The tax rebates are intended to support growth in the county and incentivize future development as the gigafactory expands and adds additional jobs.

Are you developing new technology for an existing application? Did you know your development work could be eligible for the R&D Tax Credit and you can receive up to 14% back on your expenses? Even if your development isn’t successful your work may still qualify for R&D credits (i.e. you don’t need to have a patent to qualify). To find out more, please contact a Swanson Reed R&D Specialist today or check out our free online eligibility test.

Who We Are:

Swanson Reed is one of the U.S.’ largest Specialist R&D tax advisory firms. We manage all facets of the R&D tax credit program, from claim preparation and audit compliance to claim disputes.

Swanson Reed regularly hosts free webinars and provides free IRS CE and CPE credits for CPAs. For more information please visit us at www.swansonreed.com/webinars or contact your usual Swanson Reed representative.

Dopex’s Innovative Vape Hardware Excels at Lucky Leaf Expo

Dopex, specialists in the vape R&D industry, recently exhibited their innovative products at Lucky Leaf’s Cannabis expo. This show stopping exhibit comes not long after the company joined the National Cannabis Industry Association (NCIA), the oldest, largest, and most inclusive trade association representing legal cannabis businesses.

Dopex, specializes in research & development of leading vaporization technology and heating elements. Their inspiration is to bring high quality professional vaporization equipment to the medical and wellness industry.

They used the exhibit as a chance to display their latest innovations – the Haze and Giga under the Delta8Xcel™ series. Both products are equipped with a powerful 400mAh high-capacity battery that ensures an enduring vaping experience, providing users with longer-lasting sessions and greater satisfaction. To guarantee the lasting taste, both products boast a large diameter black ceramic core. Additionally, the hefty 4-5ml e-liquid super large cup capacity meets the user’s long-term smoking needs.

The cannabis convention and expo in Kansas City was a resounding success, and Dopex proved to be one of the standout exhibitors. Moving forward, the industry can expect continued excellence from Dopex as it remains dedicated to providing superior solutions for delta-8 consumers.

Are you developing new technology for an existing application? Did you know your development work could be eligible for the R&D Tax Credit and you can receive up to 14% back on your expenses? Even if your development isn’t successful your work may still qualify for R&D credits (i.e. you don’t need to have a patent to qualify). To find out more, please contact a Swanson Reed R&D Specialist today or check out our free online eligibility test.

Who We Are:

Swanson Reed is one of the U.S.’ largest Specialist R&D tax advisory firms. We manage all facets of the R&D tax credit program, from claim preparation and audit compliance to claim disputes.

Swanson Reed regularly hosts free webinars and provides free IRS CE and CPE credits for CPAs. For more information please visit us at www.swansonreed.com/webinars or contact your usual Swanson Reed representative.

Blue Agilis Corp Closes Successful Seed Funding Round

Blue Agilis Corporation has announced the close of their successful seed funding round with a $42.5 million post-investment valuation. The funding will enable the company to aggressively pursue growth opportunities and advance AI and machine learning capabilities within their Blue Agilis Platform.

The female-founded healthcare tech company has a team made up of physician-scientists, clinicians, population health experts, and technologists who are all dedicated to the future of healthcare. This expertise, along with the co-founder’s experience developing the Agile Transformation framework, has contributed to the company’s ability to provide insight into practices’ value-based care maturity levels, surface high-value opportunities, and leverage practice pattern data to create practice-specific interventions.

Leveraging AI prompts, the platform guides practices through the best course of action needed to accelerate improvements in quality, cost, health equity, and patient experience. The company unveiled their Beta Program in September, unlocking capabilities for rapid product iterations. The latest funding round is both a vote of confidence in the company and a commitment to the continued research and development.

Are you developing new technology for an existing application? Did you know your development work could be eligible for the R&D Tax Credit and you can receive up to 14% back on your expenses? Even if your development isn’t successful your work may still qualify for R&D credits (i.e. you don’t need to have a patent to qualify). To find out more, please contact a Swanson Reed R&D Specialist today or check out our free online eligibility test.

Who We Are:

Swanson Reed is one of the U.S.’ largest Specialist R&D tax advisory firms. We manage all facets of the R&D tax credit program, from claim preparation and audit compliance to claim disputes.

Swanson Reed regularly hosts free webinars and provides free IRS CE and CPE credits for CPAs. For more information please visit us at www.swansonreed.com/webinars or contact your usual Swanson Reed representative.