Food and Beverage – Page 2 – Swanson Reed

PlantBaby Acquires $4M in Seed Funding for Children’s Vegan Milk

Hawaii-based PlantBaby has announced the closing of their seed funding round which pulled in $4 million in funding. The round was led by Big Idea Ventures and with participation from The Fund LA, Two Culture Cap, Springbank Collective and Western Technology Investment and notable private investors.

The vegan milk maker intends to use the funding to support their ongoing R&D and to open up new opportunities. The company started out by launching their first milk product, Kiki Milk, in December of 2021. This milk formulation is made from both whole and superfoods for children.

The concept of vegan milk formulations specifically for children was inspired by the co-founders own personal experience. Lauren and Alex Abelin tried vegan, soy-free and dairy-free infant formula when they found out their son needed specialist nutrition but were overall unsatisfied by the product.

They set out to formulate their own plant-based milk that would meet the needs of the 40% of children who have health conditions not supported by nutritional products already on the market. By working with pediatricians and nutritionists, their formula takes into account the unique developmental needs of children – especially those with special nutrition needs.

“Since launching just six months ago, we’ve seen constant consumer demand,” Alex Abelin, co-founder of PlantBaby said in a statement. “This fundraising round will support continued research and development of new plant-based culinary innovations and continued growth of the brand to make PlantBaby itself a vehicle to create positive change for children’s health and well-being of children everywhere.”

PlantBaby’s formula opts for whole foods in place of refined sugars, preservatives, protein isolates, gums, and GMO ingredients. The company has confirmed organic oats, hemp seeds, and coconuts as key ingredients alongside superfood plants, blueberries, and spinach. To date, Kiki Milk has been released in original and chocolate formats.

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.

Nepra Prepares to Bring Textured Hemp Protein to the Plant-Based Protein Market

Nepra Foods, Ltd., a Colorado-based vegan food company, has recently announced the expansion of their facility with the installation of proprietary THP™ production equipment.

The company has focused on the formulation, development, and production of plant-based and allergen-free food. With the addition of this new equipment, they are better equipped to produce their proprietary THP (textured hemp protein) – the basis of their PROPASTA™ product line. PROPASTA is a line of ready-to-eat frozen meals and meat analogues.

This step towards self-sufficient production processes should help the company combat shipping lead times which are at an all-time high due to the global supply chain disruptions. It will provide the tools needed for large-scale production processes as Nepra Foods aims to scale up their processes in preparation for their PROPASTA™ product launch in early 2022. This will require the continuation of in-house testing and accelerated product innovation leading to national distribution.

Nepra Foods is committed to developing plant-based foods that provide the necessary nutrition without compromising quality or taste. They take this mission one step further by formulating food that is allergen-free.

Are you developing new 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.

Naikela Botanicals Perfects Their Tea Blends

Hawaii-based Naikela Botanicals develops plant superfood tea powders using their own farmed ingredients. With a commitment to sustainability in farming and manufacturing, they are set on developing the best cup of tea for their customers. In fact, Aaron Moeller, the founder of Naikela, has dedicated much of his life to creating the perfect tea blend.

In this pursuit, they have developed a group of five elite tea powders. These blends are the result of 20 years of constant R&D.

The key to their formulation is the hand-picked and naturally dried herbs from their sustainable farm. They use a patented and unique “sun-powered, solar dehydration system”. The herbs are then ground into powder and combined into unique blends for nourishing and mostly caffeine-free tea blends. Research and development in this process covers the formulation as well as the techniques used to process each herb, and with the culmination of 5 great blends, Maikela Botanicals is only getting started. They will continue on this path, working to expand their product line and add new, delicious tea blends to their line.

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.

The Maui Cookie Lady Delivers Hawaii in a Cookie

The Maui Cookie Lady is trying to expand her operations. Mitzi Toro has created a name for herself with her signature, massive cookies. Her largest cookie is 8 oz, and promises just as much flavor. She started her business with a simple recipe and worked to create new flavors and combinations in.. She started out selling her cookies in Hawaii and is now able to ship them across the United States and Canada. But she wants more.

After opening her first brick and mortar shop in the middle of the pandemic, she has seen business skyrocket. The Maui Cookie Lady has reentered the R&D phase to introduce a new line of cookie butter which will match her current flavors and bring new ones to the shelf as well. Her intention is to continue using locally sourced, Hawaiin ingredients to create these unique and delicious cookies. Using locally grown macadamia nuts, coconut, Hawaiian sea salts, and so much more, The Maui Cookie Lady packs Hawaii into every bite. She also has plans to scale up for international shipping.

Are you developing new formulas? 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.