Florida Recent News – Swanson Reed | Specialist R&D Tax Advisors

Solubag Bags $4.5M in Series A Funding

Solubag, a South Florida startup, has secured $4.5 million in Series A funding for their water soluble alternative to single-use plastic. The round was led by Exit Ventures with participation from Between the Coasts Ventures, Landon Ainge, a confidential customer, and others.

The plastic free bags utilize a material similar to that used in dissolvable medication tablets – like a gel cap. This material readily dissolves in contact with water without leaving any toxic or polluting residues behind.

The technology could be used for grocery bags, pet waste bags, utensils and more. The company says its products require no recycling or separation from other waste, as they dissolve in water or soil within weeks or months. The products are certified food-grade, with raw materials that have a long history of food safety.

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.

dataplor Raises $10.6M Series A to Expand Global Location Intelligence

dataplor, a leading provider of global location intelligence solutions, has announced a successful Series A funding round. The round resulted in $10.6 million and was led by Spark Capital. This strategic investment underscores dataplor’s commitment to advancing its position as a premier source of international location data for enterprises worldwide.

With a vast database comprising over 300 million places across more than 200 countries and territories, dataplor stands at the forefront of delivering accurate and comprehensive location insights to businesses across various industries. From technology and logistics to consumer goods and finance, organizations rely on dataplor’s global coverage to drive informed decision-making and navigate complex market landscapes.

This funding round enables dataplor to further expand its worldwide coverage and enhance its suite of location intelligence solutions. By investing in product development and innovation, dataplor aims to provide its customers with even more robust and actionable insights to support their growth and expansion strategies.

dataplor’s innovative approach combines advanced technologies such as artificial intelligence and machine learning with a robust global infrastructure to gather, validate, and deliver location data with unparalleled precision. This ensures that customers receive timely and reliable information to support their expansion initiatives and strategic planning efforts.

In addition to enhancing its data coverage and product offerings, dataplor remains committed to maintaining the highest standards of data privacy and security. By adhering to ethical practices and stringent data protection measures, dataplor ensures that customers can leverage its solutions with confidence and trust.

As dataplor embarks on its next phase of growth and expansion, fueled by the Series A funding, it remains steadfast in its mission to empower businesses with actionable location intelligence, enabling them to unlock new opportunities and drive success on a global scale.

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.

Revolutionizing Care: Carewell’s $24.7M Series B Funding Unveiled

In the dynamic world of healthcare, where compassion meets commerce, Carewell Family, Inc. (Carewell) has emerged as a beacon for family caregivers. The Miami-based online retailer, founded in 2017 by Bianca Padilla, recently secured a substantial $24.7 million in Series B funding. This financial injection, led by MBF Healthcare, showcases a resounding vote of confidence from existing investors like Sageview Capital, Headline, Primetime Partners, Nextview, Florida Opportunity Fund, and Anchor.

Carewell’s mission is nothing short of transformative – providing essential tools and resources to family caregivers navigating the complex landscape of healthcare. The company’s commitment is reflected not only in its product offerings, ranging from incontinence supplies to nutritional supplements, but also in its comprehensive support system. Carewell boasts a team of trained customer care experts, an arsenal of over 300 educational articles, detailed video content, FAQs, and product pages that empower caregivers with knowledge.

Bianca Padilla, the visionary CEO and Founder of Carewell, emphasizes the emotional and physical toll that caregivers endure. In her words, the mission at Carewell is to help educate, support, and advocate for these selfless heroes. Padilla’s personal experience as a first-time caregiver to her grandmother underscores the crucial gap that Carewell aims to fill.

The Series B funding comes at a pivotal moment for Carewell, facilitating strategic growth initiatives, advancements in e-commerce technology, and an enriched customer experience. The company has also made significant strides by relocating its headquarters to Miami and welcoming seasoned executives from Chewy.com, a testament to its commitment to excellence.

Mike B. Fernandez, Chairman of MBF Healthcare Plans, lauds Carewell’s dedication to exceptional customer experience and high-end products. The company’s unique positioning in the market has garnered support from healthcare investors who recognize the transformative potential Carewell holds in shaping the future of healthcare and caregiving.

As Carewell embarks on this exciting journey fueled by Series B funding, the promise of improved service, an expanded product suite, and a profound impact on the lives of caregivers looms large on the horizon. The $24.7 million influx marks a significant milestone in Carewell’s pursuit of revolutionizing caregiving, one empathetic step at a time.

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.

OVO Venture Partners Leads $5M Seed Round in Climate-Tech Innovator Kind Designs

In an exciting development, GOVO Venture Partners, alongside M4 Investing and the Florida Opportunity Fund, is spearheading a groundbreaking $5 million seed investment round in Miami-based Kind Designs. This strategic move marks GOVO’s third portfolio company investment since the launch of its venture fund, GOVO Fund I, earlier this year in January.

Kind Designs, a climate-tech startup, is at the forefront of eco-friendly innovation, focusing on the production of 3D-printed seawalls designed to safeguard coastal communities against the rising sea levels. Utilizing proprietary technology, Kind Designs creates Living Seawalls™️ that emulate the natural structures of coral reefs and mangroves. These Living Seawalls not only provide vital protection but also serve as biodiversity hotspots, improving water quality. They are equipped with embedded sensors to collect water quality data and actively sequester carbon.

GOVO Venture Partners, headquartered in Winter Park, Florida, specializes in early-stage investments from seed rounds through series A, with a particular focus on companies where government interaction or navigating government regulations plays a pivotal role in their success.

M4 Investing, a Florida-based family office with a diverse portfolio of companies and investments in real estate, private equity funds, and venture capital, is also a key player in this endeavor.

This collaboration promises to drive forward novel solutions for climate resilience and sets a new standard for eco-conscious innovation in coastal protection. Stay tuned for the positive impact Kind Designs will make in coastal cities worldwide.

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.

Togal.AI Raises $5M in pre-Series A Funding Round

Miami, Florida-based software firm Togal.AI announced that it had raised $5 million in a pre-Series A SAFE round with a $50 million valuation cap, according to a March 21 press release shared with Construction Dive. The round was led by Florida Funders,a Tampa-based venture capital firm, and a roster of both new and existing investors including Meta and Goldman Sachs.

Togal.AI is developing an advanced pre-construction technology using deep machine learning to help contractors with the bidding process. This technology automatically detects, measures, compares, and labels project spaces and features on architectural drawings. Their pilot runs have shown the system can speed up project takeoff by 80% and analyze floor plans with 98% accuracy.

By expediting the process of submitting bids, without compromising the quality of the bids, a company can submit more bids. More bids increases the probability of winning more bids.

Togal.AI was founded by Patrick Murphy, the firm’s CEO, who represented Florida’s 18th district in Congress from 2013 to 2017 and is also CEO of Miami-based Coastal Construction, a large general contractor in Florida and the Southeast. With the experience running Coastal Construction, Murphy is intimately familiar with the bidding process.

Future developments will integrate a GPT, or generative AI, search feature to allow users to search for words, objects, tags, and symbols within a set of plans, spec books, or related documents.

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.

Space Perspective Begins Production of Luxury Space Balloon Capsules

The first human-made object, Sputnik 1, was sent into orbit on October 4, 1957. On April 12, 1961 the first human entered space. These achievements, along with the years of R&D that went into them, have set the stage for continued space exploration. But we’re not all astronauts, and some of us just want to see Earth from space.

Space Perspective, Inc. has begun manufacturing their Spaceship Neptune – a luxury balloon flight that will take passengers 100,000 feet above Earth’s surface. The company was founded 3 years ago with headquarters at Kennedy Space Center. This latest step brings them closer to their goal of commercial flights by the end of 2024.

The commercial flights will take a maximum of eight passengers on a six-hour balloon journey with a gradual, 12 mph climb. They’ll stay at the peak for two hours, giving passengers a view from the edge of space.

Their patent-pending capsule is the result of years of R&D. The spherical capsule uses a splash cone for gentle, safe splash-downs in the ocean at the end of the flight. A reflective coating on the exterior regulates the temperature, keeping the interior cool and comfortable.

Developing space-safe balloons is no easy feat. The company has collaborated with Siemens AG to simulate the six-hour trips including varying environmental conditions to ensure the design is safe in any scenario.

The company already has sold 900 tickets, priced at $125,000 per person. In addition, it has raised $65 million since its founding. That includes a recent $17 million investment round announced May 19.

Meanwhile, the firm’s presence in Central Florida soon may bring construction and hundreds of new jobs. The company plans to build a 120,000-square-foot Titusville manufacturing facility by 2023, creating 240 full-time, high-wage jobs by 2026.

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.

Canaery Secures $14M in Seed Funding for their Digitized Olfaction Technology

Canaery, the startup focused on digitized olfaction, announced they have successfully secured more than $4 million in seed funding to accelerate their development.

While others are advancing imaging and object recognition systems, this company has switched gears to target our other sense – smell. The company is developing a scent-sensing platform capable of detecting scents with the same accuracy as a trained animal.

Their system can be used in a range of applications including:

Detection of explosives, biological threats, contraband;
Identification of zoonotic diseases (eg. swine flu) and plant diseases before there are any visible signs;
In human health through screening for infectious and physiologic diseases.

The funding will help in the development and rendering of the Canaery neural interface, which is thinner than a piece of tissue paper and a quarter the size of a US postage stamp. This neural interface is based on a decade of primary research and is capable of detecting every scent that enters the natural olfactory system of a working animal.

So the animal smells, as usual, and the neural interface detects these chemical signatures. The interface then wirelessly transmits the chemical signatures to the cloud for processing within seconds – even before the animal consciously identifies the scent. In fact, the interface can even identify scents the animal has never encountered before.

The round was led by Breakout Ventures and included participation from major investors Dolby Family Ventures, KdT Ventures and SOSV. Canaery previously was part of the IndieBio class of 2021.

“Canaery is the first company to successfully harness the miracle of nature’s olfactory system instead of trying to reinvent millions of years of evolution,” said Gabriel Lavella, CEO and founder of Canaery. “I’m grateful for the support and faith shown by our investors, and for the hard work and dedication of everyone on team Canaery. This capital will help us recruit additional top tier engineering talent and further invest in R&D as we move toward full commercialization.”

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.

Inceptor Bio announces $37M in Series A funding

Tennessee Patent of the Month - December 2021

Inceptor Bio, a biotechnology company advancing cell therapies for difficult-to-treat cancers, today announced the closing of a $37 million Series A financing led by Kineticos Ventures.

They have big goals for this funding, including their plans to:

Advance their CAR-T lead program to a Phase I clinical trial
Continue development of CAR-M
Continue development of CAR-NK
Complete construction of their Advanced Manufacturing Platform (AMP+) facility – a state-of-the-art cell and gene therapy GMP manufacturing site – in Gainesville, Florida.

Inceptor Bio’s CAR-T, CAR-M, and CAR-NK platforms are the center of their diversified portfolio of cell therapies. These therapies are focused on novel mechanisms to enhance cell performance in the tumor microenvironment. Novel technologies include a co-stimulatory domain M83, proprietary TMax manufacturing process, the K62 platform, which increases the phagocytic capabilities of macrophages and supports a M1 anti-tumor phenotype, and a differentiated iPSC technology.

Advancing thest technologies will require the expansion of their team as they work to onboard additional scientists and engineers to improve treatment options.

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.

Skretting and Atlantic Sapphire Announce Partnership to Develop Zero Marine Ingredient Salmon Diet

Skretting, a Vancouver-based feed manufacturing company, has announced an agreement with Atlantic Sapphire to build a state of the art RAS feed facility in Florida.

This feed facility will serve Atlantic Sapphire’s recirculation system (RAS) operations. Skretting will build and finance the feed plant while Atlantic Sapphire will source the majority of its salmon feed demand. The contract has a 10 year life span, wherein Atlantic Sapphire will continue to source the salmon the entire decade.

This local feed source will reduce production costs and GHG emissions significantly.

Skretting has a stellar history of R&D, influencing Atlantic Sapphire’s decision in partnering up with them. This R&D record is set to continue as the two companies commit to developing specialist RAS salmon diets while reducing carbon footprints. This requires the testing and integration of novel ingredients and formulas. The ultimate goal is to use zero marine ingredients in the salmon diet without reducing the required levels of omega-3 fatty acids in the final product.

Are you developing new processes or formulas 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.

FourthWall Testing Partners Up with NOVA

Michigan Patent of the Month - July 2021

FourthWall Testing, LLC has announced a partnership with Nova Mentis Life Science Corp (NOVA). Together, they have established a Serotonin Research Center at FourthWall’s Florida headquarters.

This collaboration will enable the companies to develop assays to measure serotonin levels in blood, feces, and urine in patients with autism spectrum disorder (ASD). Serotonin is a key hormone which allows brain cells and other nervous system cells to communicate with each other. ASD categorizes a diverse group of conditions characterized by some degree of difficulty with social interaction and communication as well as atypical patterns of activities and behaviors. Their collaborative neuroinflammatory research program is based on identifying biomarkers that can be used to confirm the therapeutic efficacy of NOVA’s proprietary psilocybin-based drug portfolio. They have plans to develop and launch a longitudinal data bank to support the large-scale studies of the microbiome, developmental disorder genetics serotonin activity levels, and behavioral metrics as they relate to ASD, with an additional focus on individuals diagnosed with ASD and fragile x syndrome (FXS)

Are you developing new software 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.