Preheat oven to 350°F (175°C). Line a 9-inch round cake pan with parchment paper and grease the sides.
In a large bowl, whisk together the almond flour, granulated sweetener, baking powder, baking soda, and spices.
In a separate bowl, whisk the eggs, avocado oil, and 1 tablespoon of vanilla extract until smooth.
Fold the wet ingredients into the dry ingredients until just combined.
Gently fold in the grated carrots and chopped nuts.
Pour the batter into the prepared pan and bake for 30-35 minutes, or until a toothpick comes out clean.
Let the cake cool completely. Meanwhile, beat the cream cheese, butter, powdered sweetener, and 1 teaspoon of vanilla until fluffy.
Spread the frosting evenly over the cooled cake before slicing and serving.