Preheat the oven to 350°F. Line a 9-inch cake pan with parchment paper.
To make the batter: In a large mixing bowl, add the canola oil, heavy whipping cream, eggs, cane sugar, and cherry juice. Mix together with a whisk to combine completely.
Add in the pastry flour, baking powder, beet powder and salt. Mix together until a smooth batter forms. Add in the chopped cherries and fold to combine completely.
Transfer the batter to the prepared baking pan and spread evenly.
Bake for 40 to 50 minutes or until a toothpick inserted in the center comes out clean. Allow the cake to cool completely in the pan.
To make the frosting: Add the heavy whipping cream, powdered sugar, beet powder, and vanilla extract. Mix on low until combined, then gradually increase the speed as the mixture begins to thicken. Continue to increase until you are at full speed. Whisk until stiff peaks form.
Transfer the frosting to a piping bag with Ateco tip #827.
Pipe swirls of frosting around the cake. Then pipe straight lines in the middle to fill in.
Top the cake with maraschino cherries on top of each swirl.
Store extra cake in an airtight container in the fridge for up to 3 days.