Industry – Page 8 – Swanson Reed | Specialist R&D Tax Advisors

Sortera Technologies Welcomes New CFO to Spearhead Expansion Plans

Sortera Technologies Inc., a leading industrial scrap metal recycling company based in Markle, Indiana, has announced the appointment of Curt Sacks as Senior Vice President and Chief Financial Officer. With a wealth of experience in financial management, Sacks joins Sortera to lead the finance team during a pivotal phase of expansion and commercialization.

Bringing a strong track record of success to his new role, Sacks most recently served as CFO of Zero Motorcycles in California. His expertise in guiding companies through rapid growth phases makes him an invaluable addition to Sortera’s leadership team as the company aims to solidify its position in the $1 trillion metals and recycling markets.

Sortera is renowned for its innovative technology platform, which facilitates the complex sorting and recycling of mixed aluminum alloys, contributing to the sustainability of the manufacturing process. With Sacks at the helm of the finance team, Sortera is poised to accelerate its growth trajectory and advance its technology into new materials.

CEO Michael Siemer expressed enthusiasm about Sacks joining the team, highlighting his contributions to navigating companies through periods of significant growth. Siemer emphasized Sortera’s commitment to leveraging cutting-edge technology to transform the recycling industry and contribute to global sustainability efforts.

Prior to his role at Zero Motorcycles, Sacks held CFO positions at GigOptix Inc. and Endwave Corp., both based in California. His extensive experience in financial management and strategic planning positions him well to support Sortera’s ambitious expansion plans.

Sortera recently closed a $30.5 million Series C funding round, signaling investors’ confidence in the company’s vision and potential for growth. The funds will be utilized to expand Sortera’s operations across North America, further establishing its presence in the market.

With a newly established 200,000-square-foot facility in Markle, Sortera is equipped to handle up to 220 million pounds of scrap metal per year, positioning the company for continued success and innovation in the recycling industry. As Sortera embarks on its next chapter of growth, Sacks’ leadership will play a pivotal role in driving financial strategy and ensuring the company’s long-term success.

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.

Equip Secures $50K in Funding for Accessibility Platform

In a significant stride towards advancing accessibility and independence for individuals with intellectual and developmental disabilities, Birmingham-based startup Equip has secured $50,000 in funding through the Alabama Launchpad program. Founded by Trent Kocurek, alongside Betty Patten, Equip is on a mission to revolutionize daily living support through innovative software solutions.

The essence of Equip’s platform lies in its ability to empower users by providing comprehensive assistance with daily routines, mood regulation, and swift access to essential information. By leveraging technology, Equip aims to bridge gaps and enhance the quality of life for individuals facing various challenges.

The funding, awarded during the Alabama Launchpad Cycle 1 2024 Finale, underscores the recognition of Equip’s potential to make a meaningful impact in the lives of its users. As the winner in the early-seed stage competition, Equip’s victory highlights the program’s commitment to supporting ventures that prioritize social impact and innovation.

For Equip’s co-founders, the journey represents more than just financial backing—it’s about realizing a vision of inclusivity and empowerment. With a strong foundation laid by Trent Kocurek’s leadership and Betty Patten’s expertise, Equip is poised to transform the landscape of support services for individuals with disabilities.

Looking ahead, Equip plans to utilize the funding to further develop its platform, enhancing its capabilities and expanding its reach. By prioritizing user-centric design and functionality, Equip aims to create a solution that seamlessly integrates into users’ lives, promoting autonomy and self-reliance.

The success of Equip serves as a testament to the power of innovation in addressing pressing societal needs. Through collaborative efforts and strategic partnerships, Equip is paving the way for a more inclusive future, where individuals of all abilities can thrive and lead fulfilling lives. As Equip continues to evolve and grow, its impact on the community is bound to resonate far beyond the realms of technology, leaving a lasting legacy of empowerment and possibility.

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.

Champ Titles Secures $18M Investment for Expansion Amid Digital Title Revolution

In a significant move towards revolutionizing the digital title industry, Champ Titles, an Ohio-based company specializing in digital title, registration, and lien technology for state governments, has announced an impressive $18 million Series C funding round. Led by Point72 Ventures and joined by existing investors such as W.R. Berkley Corporation, Eos Venture Partners, Guidewire Software, and Rev1 Ventures, this investment is set to propel Champ Titles into new U.S. markets and expand its reach nationwide.

Since its inception in 2018, Champ Titles has been on a trajectory of growth, raising over $49 million in funding, including a notable $13 million Series B round in 2022. The company’s mission is clear: to digitize state DMV offices by replacing outdated title and registration systems with modern, efficient technology.

At the heart of Champ Titles’ strategy is the ambition to position West Virginia as the leader in the U.S. digital title industry. Collaborating closely with Tyler Technologies, Champ Titles aims to spearhead the digital transformation of state DMVs, offering software-as-a-service solutions that streamline operations and enhance user experience.

Thomas “L.T.” Slater, Executive Vice President and Head of Strategic Partnerships at Champ Titles, emphasizes the shift towards software-as-a-service in government agencies, noting that this approach resonates with the evolving needs of DMVs nationwide. By embracing modern technology, Champ Titles empowers not only state workers but also dealers, lenders, fleet managers, insurance carriers, and service providers, facilitating more efficient title, registration, and lien transactions for all stakeholders.

With its footprint expanding rapidly, Champ Titles currently collaborates with four states, including recent additions like New Jersey and upcoming integrations with Kentucky and Illinois. The launch of the National Digital Titling Clearinghouse in West Virginia marks a significant milestone in the company’s journey towards digital innovation.

Driven by its commitment to excellence, Champ Titles witnessed a remarkable revenue increase of over 300 percent year over year in 2023, underscoring the growing demand for digital solutions in the title industry. As the company continues to pave the way for digital transformation in state DMVs, the $18 million investment sets the stage for accelerated growth and nationwide impact in the years to come.

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.

Redefining Email Security: Sublime’s $20M Series A Funding Round

Sublime Security, Inc., the AI-powered, programmable email security platform, has announced a successful $20 million Series A funding round led by Index Ventures, along with participation from previous investors Decibel Partners and Slow Ventures. This funding marks a pivotal moment for Sublime as it aims to further enhance its platform and improve the customer experience amid the rapidly evolving threat landscape in cybersecurity.

Email remains a top security concern for businesses, with the most recent FBI Internet Crime Report revealing that Business Email Compromise (BEC) alone accounted for over $2.9 billion in losses. Against this backdrop, Sublime aims to empower security teams with the ability to detect and prevent a wide range of email attacks, including BEC, malware/ransomware, credential phishing, and more.

Traditionally, email security solutions have offered black box, one-size-fits-all approaches, leaving security teams struggling with false positives and missed attacks. Sublime’s AI-powered detection engine brings transparency and control to email security, allowing organizations to tailor security controls to their specific needs and benefit from community-driven protections as the threat landscape evolves.

Josh Kamdjou, Founder and CEO of Sublime Security, brings a wealth of experience from his background in offensive cyber initiatives, where he identified email phishing as a prevalent vulnerability. Co-founder and COO Ian Thiel complements this expertise with his experience in leading growth at notable tech companies. Together, they launched Sublime in 2019, and the platform has already gained traction among leading security teams at companies like Spotify, Ramp, Vanta, and Brex.

The recent funding round not only validates Sublime’s innovative approach to email security but also underscores the urgent need for effective solutions in today’s cybersecurity landscape. With Attack Score, Sublime introduces its latest feature, leveraging transparent, explainable machine learning to prioritize email threats and aid security analysts in quickly understanding and addressing detected threats.

Sublime’s commitment to empowering security teams with better visibility and control over their email environments positions it as a key player in combating advanced email attacks. As businesses face increasingly sophisticated threats, Sublime’s platform offers a beacon of hope, enabling organizations to mitigate risks and prevent email-borne incidents effectively.

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.

BurnBot Raises $20M to Revolutionize Wildfire Prevention with Mechanized Solutions

Florida Patent of the Month - December 2021

In a significant move towards combating destructive wildfires, BurnBot, Inc. has announced the close of a successful Series A funding round, securing $20 million in financing to expand its mechanized vegetation management and fuel treatment solutions. Led by ReGen Ventures, with participation from several prominent investors, this funding will propel BurnBot’s mission to revolutionize wildfire prevention through innovative technology.

At the heart of BurnBot’s innovation is the RX, a mechanized prescribed fire system designed to amplify prescribed fire capacity while minimizing risk. This technology enables small crews to treat areas ten times faster and more efficiently, even near communities and critical infrastructure, making it safe for year-round use.

Partnering with organizations like CAL FIRE, BurnBot’s technology has already made significant strides in wildfire prevention across California and Oregon. From precisely deploying prescribed fire under high-voltage transmission lines to clearing hazardous brush around evacuation routes, BurnBot’s solutions have proven instrumental in mitigating wildfire risks.

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.

RFX Solutions Secures $9M in Series A Funding Round

RFX Solutions, Inc., a pioneer in SaaS compliance software for healthcare facilities, has announced the successful closure of a $9 million Series A funding round led by Arthur Ventures. This significant investment underscores the confidence in RFX Solutions’ mission to revolutionize healthcare compliance through innovative technology.

Partnering with Arthur Ventures for this pivotal phase of growth, RFX Solutions aims to leverage the firm’s expertise in partnering with growing B2B SaaS companies. Amanda Penrod, PhD, Co-Founder & CEO of RFX Solutions, expressed excitement about the partnership, emphasizing Arthur Ventures’ deep understanding of the SaaS landscape and shared vision for streamlining compliance processes in healthcare.

The funding will play a crucial role in accelerating RFX Solutions’ software development, enhancing the product roadmap, and strengthening sales enablement efforts. By focusing on regulatory compliance, RFX Solutions addresses a critical pain point in the healthcare industry, replacing manual handling of compliance data and regulatory documents with efficient and error-free solutions.

Patrick Meenan, general partner of Arthur Ventures, highlighted the transformative potential of RFX Solutions’ platform for Ambulatory Surgery Centers (ASC), offering comprehensive solutions to their mounting challenges. With RFX Solutions, ASCs can remain compliant, streamline operations, and prioritize delivering high-quality patient care.

RFX Solutions’ innovative approach promises a future where compliance is streamlined, risks are minimized, and healthcare facilities can refocus on patient care. The partnership with Arthur Ventures marks a significant milestone in RFX Solutions’ journey to redefine healthcare compliance through cutting-edge technology.

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.

Taking Flight: Aethero’s $1.1M Investment to Shape the Future of UAS

Aethero, a Grand Forks-based startup specializing in AI and UAS technology, has recently secured over $1.1 million in investment, marking a significant milestone in its journey towards revolutionizing the UAS industry. Co-founded by Matt Dunlevy and Josh Klug, Aethero is dedicated to analyzing and monitoring infrastructure health using cutting-edge drone technology.

This substantial investment, part of which comes from a North Dakota venture capital fund, reflects the confidence and support of investors in Aethero’s vision and technological capabilities. With this funding, Aethero is poised to accelerate its development and commercialization efforts, paving the way for groundbreaking innovations in autonomous aerial systems.

The investment, facilitated through gener8tor 1889 North Dakota – an accelerator program aimed at assisting startups in securing seed funding – will provide Aethero with the resources to pursue ambitious research and development initiatives. Additionally, it will enable the expansion of Aethero’s customer support and business development teams, strengthening its position in the market.

Aethero’s mission extends beyond merely advancing drone technology; it aims to address critical challenges across various sectors, including agriculture, infrastructure, and public safety. By leveraging AI and UAS solutions, Aethero seeks to empower industries and organizations to harness the transformative potential of drone technology for enhancing efficiency and safety.

Ben Stanley, principal of gener8tor 1889, expressed confidence in Aethero’s vision, emphasizing its potential to revolutionize the way property owners manage critical infrastructure. Through innovative technologies, Aethero is poised to provide property owners with valuable insights, enabling them to prioritize maintenance and improve overall efficiency.

As Aethero embarks on its next phase of growth and innovation, it remains committed to driving positive change and shaping the future of autonomous aerial systems. With its pioneering spirit and dedication to excellence, Aethero is poised to make a lasting impact on industries worldwide, ushering in a new era of UAS technology.

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.

SelSym Biotech’s Breakthrough: Synthetic Platelets to Control Bleeding

SelSym Biotech, a startup pioneering in biotechnology, is on a mission to transform hemostasis with its groundbreaking development of synthetic platelets. Traditional platelets, essential for clotting and stopping bleeding, are in perpetual short supply due to their short shelf life. Recognizing this critical challenge, SelSym Biotech has unveiled a revolutionary solution: synthetic platelets.

Led by Ashley Brown, Ph.D., a biomedical engineer at North Carolina State University (NCSU), SelSym Biotech’s research team has developed tiny bits of ultra-soft hydrogel, termed platelet-like particles (PLPs), equipped with antibodies that bind directly to fibrin, a protein found at the wound site. These PLPs mimic the function of natural platelets, effectively stopping bleeding when they come into contact with fibrin.

The potential of SelSym’s synthetic platelets extends beyond addressing donor shortages. Unlike natural platelets, which have a short shelf life and require specific storage conditions, PLPs offer a longer shelf life and can be stored at room temperature, making them easier to transport and distribute, especially in remote or challenging-to-reach locations.

SelSym’s approach minimizes the risk of off-target blood clot formation, ensuring safety and efficacy in clinical applications. Promising results from studies conducted in mice, rats, and pigs demonstrate the effectiveness of PLPs in stopping trauma-induced bleeding without adverse effects.

With support from grants and ongoing research collaborations, SelSym Biotech is advancing towards clinical trials, aiming to translate its innovative technology into practical solutions for preventing unnecessary deaths due to uncontrolled bleeding.

SelSym Biotech’s journey exemplifies a commitment to overcoming critical challenges in medicine, offering hope for improved clinical outcomes and transforming the landscape of hemostasis with synthetic platelets.

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.

Fueling the Future: Terragia’s Innovative Biofuel Technology

Terragia Biofuel Incorporated, a pioneering cleantech startup, recently announced the successful closure of its seed financing round, securing an impressive $6 million. This significant capital injection is aimed at advancing the company’s innovative approach to converting biomass into ethanol and various sustainable products, driving its growth and facilitating commercialization.

Founded in 2022 and headquartered in New Hampshire, Terragia specializes in cutting-edge technology aimed at producing sustainable fuels derived from cellulosic biomass. What sets Terragia apart is its unique biology-centric approach, which harnesses thermophilic microorganisms to seamlessly convert biomass into ethanol, bypassing the need for enzymatic additives and thermochemical pretreatment.

This groundbreaking methodology not only mitigates significant cost overheads typically associated with conventional cellulosic biofuel production but also caters to the fuel requirements of challenging-to-electrify transportation sectors like aviation, ocean shipping, and long-haul trucking.

The recent funding round, led by Engine Ventures and Energy Impact Partners, reflects growing optimism about Terragia’s potential to thrive in the cellulosic biofuel sector. Terragia’s vision for sustainable fuel solutions holds immense potential to revolutionize the biofuel industry and drive meaningful progress towards a greener, more sustainable future.

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.

Driving Change: Yoshi Mobility Diversifies with Series C Investment Boost

Yoshi Inc. (Yoshi Mobility), a tech-enabled mobile car care company, has marked a significant milestone with the closure of its $26 million Series C funding round. This round, which includes strategic investments from heavyweights like General Motors Ventures and Bridgestone Americas, as well as international backers Universal Motors Agencies and Shikra Limited, signals a new chapter of growth and innovation for the company.

Emerging from Y Combinator in 2016, Yoshi Mobility has rapidly garnered attention and investment, with previous support from notable names like ExxonMobil, DN Automotive, NBA star Kevin Durant, and NFL legend Joe Montana. With this latest infusion of capital, totaling over $60 million to date, Yoshi Mobility is poised to accelerate its expansion and solidify its position as a leader in the mobile car care industry.

In response to the shifting landscape catalyzed by the pandemic, Yoshi Mobility has experienced exponential revenue growth, driven by its fleet business and strategic partnerships with Fortune 100 companies. Building on this momentum, the Series C funding round enables Yoshi Mobility to diversify its offerings and venture into three new business lines: preventative maintenance, virtual vehicle inspections, and electric vehicle (EV) charging.

A key milestone in this diversification journey is Yoshi Mobility’s recent acquisition of Mobile Auto Concepts Inc. (MACi), a mobile automotive services company specializing in preventative maintenance, tire care, and more. Additionally, Yoshi Mobility is spearheading innovation in the EV charging space, leveraging its platform and technology stack to provide on-the-go charging, maintenance, and support for EV owners and enterprise customers.

With millions of vehicle services completed and a commitment to making car ownership seamless and efficient, Yoshi Mobility is driving towards a future where mobility is frictionless and customers are empowered to keep moving safely and sustainably. As the automotive landscape continues to evolve, Yoshi Mobility stands ready to meet the needs of a rapidly changing market and lead the charge towards a more connected and convenient automotive experience.

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.