Oregon – Swanson Reed | Specialist R&D Tax Advisors

OptiTrack Opens New R&D and Manufacturing Facility

NaturalPoint (DBA OptiTrack) has opened a new manufacturing facility in Corvallis, Oregon. NaturalPoint is a subsidiary of Planar Systems, whose parent organisation is Beijing-based Leyard Optoelectronic.

OptiTrack provides 3D tracking technology with a comprehensive range of cameras, software and accessories. The firm’s new facility expands its presence in Corvallis which already houses the company’s headquarters and manufacturing operations.

The building, spanning 25005 sq ft, offers a new surface-mount technology (SMT) line and increased warehouse storage capacity. It also provides dedicated spaces for prototyping, additive manufacturing and assembly.

The upgraded facility allows it to better meet demand for 3D tracking solutions as well as shorten lead times for customers worldwide. Furthermore, it will also create new jobs and bolster its on-site research and development efforts.

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.

HighByte Secures $12M Series A to Drive Innovation in Industrial Software

Georgia Patent of the Month - January 2022

HighByte, Inc., a Portland-based industrial software company, has announced a significant milestone with the closure of a $12 million Series A funding round led by Standard Investments. This injection of capital is earmarked primarily for research and development efforts, strategic partner management, and customer success initiatives aimed at accelerating market penetration and expanding deployments within existing accounts.

The company’s Industrial DataOps platform, HighByte Intelligence Hub, facilitates the seamless collection, analysis, and application of industrial data, offering manufacturers a transformative solution to improve physical operations. This approach is becoming increasingly crucial as top-performing manufacturers grapple with mounting data complexity and the need for enhanced efficiency and security throughout their operations and supply chains.

HighByte’s CEO, Tony Paine, expressed confidence in the company’s trajectory, citing a tripling of ARR in 2023 and a strong product-market fit across various vertical markets. With plans to further invest in the business to meet growing customer demand and expand global partnerships, HighByte aims to remain at the forefront of innovation in industrial software.

Founded in 2018 by a team with over 50 years of combined experience in industrial data, HighByte has quickly garnered attention for its pioneering approach to Industrial DataOps. The company’s success underscores the growing demand for solutions that streamline data architecture and integration challenges in the era of Industry 4.0.

The partnership with Standard Investments, known for its focus on investing in companies shaping the industrial world through technology, is expected to propel HighByte into its next phase of growth. With a commitment to innovation and a deep understanding of industrial challenges, HighByte is poised to continue driving advancements in industrial software and contributing to the evolution of Industry 4.0.

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.

Mindtrip is Streamlining Travel Planning with AI

In a world where travel is becoming increasingly personalized, the need for smarter, more efficient trip planning tools has never been greater. Enter Mindtrip, the AI-driven trip planner that’s changing the game. With a recent injection of $7 million in funding, Mindtrip is poised to reshape the travel industry through innovative research and development.

Traditional trip planning can be a time-consuming and overwhelming process. From sifting through countless travel options to creating itineraries that cater to individual preferences, travelers often find themselves in need of a helping hand. Mindtrip recognizes these pain points and leverages the power of artificial intelligence to provide a solution.

The core concept behind Mindtrip is simple; by harnessing AI technology, the platform takes the hassle out of travel planning, offering users customized trip recommendations that align with their interests, budgets, and schedules. This personalized approach not only saves time but also enhances the overall travel experience.

The recent $7 million in funding, a testament to the industry’s belief in Mindtrip’s potential, will be instrumental in furthering the company’s research and development efforts. With this financial boost, Mindtrip aims to refine its AI algorithms, expand its database of travel information, and enhance user interfaces. The ultimate goal? To offer travelers an unparalleled trip planning experience.

One of the key advantages of Mindtrip’s AI-driven approach is its ability to adapt and evolve. As users engage with the platform and provide feedback, the AI continuously refines its recommendations, becoming smarter with each use. This iterative process ensures that Mindtrip remains at the forefront of travel technology, setting new standards for trip planning efficiency.

The implications of Mindtrip’s research and development efforts extend far beyond individual travelers. By streamlining the planning process and encouraging exploration, the platform has the potential to boost tourism in various destinations. This, in turn, can stimulate local economies and promote sustainable travel practices.

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.

Rainbow R Technologies Brings in $1M in Seed Funding

Rainbow R Technology, a Portland-based startup, has raised $1 million in a seed funding round. This funding will be used to accelerate the development of their flagship product: Rainbow R Adventures. Companies are also now able to join the waitlist to experience the AI-powered indoor playground software.

The playground uses AI technology to perform communications and security which then helps monitor customer traffic, identify peak hours, and understand customer behavior. By analyzing this data, AI can provide recommendations to improve customer experience and help increase revenue.

Continued development will see improvements to the AI security and hardware features. They also intend to build an additional layer of safety and security for indoor playground owners and entrepreneurs. The launch of the technology will take place in the fall of 2023.

The women-owned startup ran a successful funding round with the help of family, friends, and local women investors.

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.

NuScale Power’s SMR to be Certified by the Nuclear Regulatory Commission

Recent updates from the Nuclear Regulatory Commission (NRC) indicate NuScale Power is in for some good news. The NRC have indicated they will certify NuScale’s 50-MWe (160 MWth) small modular reactor (SMR) design.

NuScale submitted an application in December 2016 for their standard SMR design. After 6 years of review and debate, the certification will officially designate the design as meeting the agency’s stringent safety requirements. Once finalized, the NRC will publish their ruling in the Federal Register and the certification will take effect 30 days thereafter.

Once certified, NuScale’s SMR will become only the seventh reactor design certification awarded by this regulatory body. That means only 7 designs have been issued safe to use in the U.S.

This certification won’t be the first milestone for the company as they became the first SMR to receive a final safety evaluation report (FSER) from the NRC as a part of a Phase 6 review. This milestone was hit on August 28, 2020.

While awaiting this certification, NuScale has been hard at work redefining nuclear power. The company recently announced a new business collaboration agreement with National Technical Systems (NTS) which will work to establish an Equipment Qualification (EQ) Test Chamber. This technology, built by NTS, will allow NuScale to mimic the range of environmental conditions under which NuScale equipment is required to function in order to meet U.S. Nuclear Regulatory Commission and plant-specific requirements. The company continually works towards their goals of developing technology to supply energy for electrical generation, district heating, desalination, commercial-scale hydrogen production and other process heat applications.

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. Click here to learn more about our technical expertise.

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.

Biomotum Receives $300K as First Place Winner in Angel Oregon Life and Bioscience Investment Program

Biomotum has been announced as the winner of Angel Oregon Life and Bioscience in Portland. This win comes with $300,000 in investment funding for the wearable robotics startup.

The company has dedicated themselves to developing solutions which optimize human mobility. Their solutions include the development of intelligent and intuitive wearable systems. These exoskeleton solutions are designed by expert engineers which can offer mobility solutions to physical therapists, orthotic and prosthetic professionals, and individuals who experience walking impairment and disabilities.

The exoskeleton is designed with an ankle actuator built from ultra-lightweight carbon fiber. This component achieves finely-tuned mobility with both plantar-flexor and dorsiflexor torque. Torque angle sensing optimizes control and monitoring. A waistpack stores the brains, battery, and motors of the exoskeleton including lithium-ion batteries. With a control interface available on any device, the device transforms mobility rehabilitation, helping those with walking impairments to live without limits.

The company was up against four other finalists including:

Savorease Therapeutic Foods – a startup focused on creating finger foods for people with swallowing or chewing difficulties;
Inherent Targeting – a startup developing fluorescent imaging agents to visualize nerves during surgery;
StoneTable – a startup developing a way to increase vaccine stability with a silica coating.

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.

JSR to Acquire Oregon Start-Up, Inpria, for $514M

ETRAK Technologies to Compete for $75K in Funding from Alabama Launchpad

Inpria Corp., a start up with origins in Oregon State University, has developed revolutionary materials used in microchips. Recently, they have announced they will be acquired by the Japanese firm JSR for $514 million.

This revolutionary material comes in the form of a first-of-its-kind inorganic photoreactive liquid which can improve the production of more powerful, cost-effective, and energy-efficient microchips used in all sorts of electronics. This inorganic, tin-oxide base is put through a photolithography process to produce the semiconductor microchips. This process involves applying a nanometer-thin layer of their light-sensitive solution to a silicon wafer, using extreme UV (EUV) light to record and replicate a stencil pattern onto the chemical coated wafer. This can then be transferred to create the circuit patterns. The short wavelengths of EUV allow for the smallest possible patterning.

The more precise the patterning materials and process, the smaller patterns manufacturers can create, which allows for production of more powerful and energy-efficient semiconductor microchips.

After their founding in 2007, Inpria drew plenty of attention and attracted investors like Intel and Samsung. These big players also believe that Inpria’s technology could be the next step in progressing the development of chips and processors.

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.

InVivo Biosystems to Aid in Anti-Ageing

Oregon-based InVivo Biosystems works to develop the technology to drive insights and decisions in biomedical research. Through the use of non-mammalian model organisms, they provide better understanding of results within pharmaceutical, nutraceutical, and biotech research. Recently, they have announced the launch of their new InVivo Longevity Platform which can analyze the effects of compounds on factors like lifespan, healthspan and transcriptional changes.

Their platform will aid anti-ageing product R&D. They continue to use non-vertebrate models and have worked with hundreds of clients in recent months to test their platform functionality. The platform helps firms assess the performance of their products by generating concrete efficacy data. It makes it easier to ensure accuracy, reproducibility, and robust conclusions by combining continuous automated data collection of lifespan metrics and genetic analysis. This rapid analysis can speed up assessment and product production, completing a project within five months. This speed and accuracy gives companies a greater opportunity to focus on products and formulations that have a real chance at success, rather than committing years to a product with no concrete evidence to support it.

InVivo’s platform will provide a way to address the product validation needs of the age-tech and longevity industry. Through analysis, it can inform product development teams on the impact of their compound on lifespan, activity level, and muscle use throughout senescence, and the underlying Mechanism of Action. Many clients rely on the service to help them find the best formulations and to substantiate product claims with real data.

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.

AbSci Secures $125M in Financing

AbSci, Corp. has recently announced a successful crossover financing, achieving $125 million. Two months before this, they acquired an AI engine to speed up drug development. The company was founded in Oregon and has since grown into a leading synthetic biology company that translates ideas into drugs.

AbSci has been training the Denovium AI engine to speed up their R&D process by accounting for and optimizing manufacturability, functionality and expression of new compounds. They haven’t released a decision on their next steps but are considering another financing round or an IPO. They are hoping to automate the drug development process by expanding Denovium’s self learning significantly. The more you teach it, the more it can teach itself. AbSci hopes it will be able to essentially discover a drug and its cell line at the push of a button.

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.