BITE Data Raises $2.5 Million In Seed Funding Round

BITE Data, a Virginia-based AI native SaaS platform for global trade compliance, closed a $2.5 million Series Seed round, led by Las Olas Venture Capital with participation from New Dominion Angels and Blue Impact Venture Capital. This brings the company’s total funding to $3 million, following a $500,000 pre-seed in June 2024. The fresh capital will expand engineering and sales teams to accelerate AI driven automation amid rising tariffs and sanctions.

BITE Data, founded in 2023 and headquartered in Leesburg, Virginia, is an AI native SaaS platform specializing in global trade compliance solutions. It automates complex import and export workflows, helping companies navigate regulatory hurdles with enhanced speed and accuracy. The founders, CEO Thariq Kara (former senior official at U.S. Immigration and Customs Enforcement) and Anne Riitho (expert in supply chain investigations for U.S. agencies), bring deep domain expertise to modernize a traditionally manual industry.

This Seed round builds momentum from the earlier pre-seed, signaling strong investor confidence in BITE’s AI innovations amid a fragmented market. Key investors include established players in venture and angel networks, providing not just capital but potential strategic guidance for scaling.

Proceeds are earmarked for hiring engineers to refine AI models and building a sales team to expand customer acquisition. This positions BITE to capitalize on urgent needs in trade automation, particularly as global regulations intensify.

The global trade compliance software market, valued at approximately $1.2 billion in 2024, is projected to reach $1.3 billion in 2025 and grow to $3.5 billion by 2032 at a CAGR of 9-12.5%. Geopolitical tensions, including U.S.-China tariffs and evolving sanctions, are driving demand for efficient tools, creating a ripe opportunity for AI disruptors like BITE.

BITE Data’s latest funding round represents a pivotal milestone for the emerging AI player in the global trade compliance sector, underscoring investor optimism about its potential to transform a legacy industry burdened by manual processes and escalating regulatory pressures. Established in 2023 by Thariq Kara and Anne Riitho, the Leesburg, Virginia-based company has quickly amassed $3 million in total venture capital, with the most recent $2.5 million Series Seed closing on October 20, 2025. This infusion follows a $500,000 pre-seed round in June 2024, supported by accelerators and early stage funds, and positions BITE to scale operations amid a market increasingly strained by geopolitical flux.

The Series Seed round was anchored by Las Olas Venture Capital (LOVC), a Florida-based firm focused on early-stage tech investments, which led the effort and brought strategic depth through its network in supply chain and compliance tech. Joining LOVC were New Dominion Angels, a prominent angel group in the Mid-Atlantic region with a track record in government adjacent tech, and Blue Impact Venture Capital, known for backing mission driven startups in regulatory heavy sectors. The pre-seed, meanwhile, drew from Techstars, a global accelerator renowned for nurturing hardware and enterprise software ventures, and Refashiond Ventures, an early investor in sustainable and tech enabled supply chain solutions.

This investor mix reflects a blend of accelerator momentum, regional angel support, and venture expertise, providing BITE with both capital and ecosystem connections. The company’s total funding stands at $3 million, a modest but targeted sum for a two year old startup, enabling focused growth without over dilution.

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BITE Data operates as an AI native SaaS provider, delivering tools that automate trade screening, risk assessment, and compliance workflows for importers, exporters, and customs brokers. Its platform leverages machine learning to process vast regulatory datasets, flagging issues like sanctions violations or tariff discrepancies in real time, capabilities honed by the founders’ extensive government experience. Thariq Kara, with over a decade at U.S. Immigration and Customs Enforcement (ICE) in senior enforcement roles, and Anne Riitho, who spearheaded cross agency supply chain probes, ensure the product aligns closely with real world enforcement needs.

The company’s ethos centers on “bite sized” automation: modular AI agents that integrate seamlessly into existing ERP systems, reducing manual errors that cost global firms billions annually. Early traction includes pilots with mid sized manufacturers navigating U.S.-EU trade pacts, positioning BITE as a nimble alternative to legacy providers.

The $2.5 million will primarily bolster product engineering, with hires targeted at AI specialists to enhance natural language processing for multilingual regulations and predictive analytics for sanction risks. Parallel investments in sales and marketing aim to penetrate North American markets first, followed by expansion into Europe and Asia, where trade volumes are surging despite barriers. CEO Thariq Kara emphasized the timing: “Global trade is in huge flux, and we want to provide useful, efficient automation tools to the industry that build on the advancements in AI as well.” LOVC’s Dean Hatton echoed this, noting BITE’s “unmatched regulatory and technical expertise” in modernizing “an area that has long relied on manual processes.”

Looking ahead, BITE plans quarterly feature releases, including blockchain integration for audit trails, and partnerships with logistics giants to embed compliance checks at the supply chain origin. With a lean team of under 20, the funding supports a runway of 18-24 months, targeting Series A by mid 2026.

The trade compliance software market is experiencing robust expansion, driven by digital transformation and regulatory complexity. Valued at $1.21 billion in 2024, it is forecasted to hit $1.31 billion in 2025 and climb to $3.5 billion by 2032, propelled by a 9-12.5% CAGR. Key growth vectors include AI adoption for automated monitoring (projected to dominate 60% of deployments by 2030) and rising enforcement from bodies like the U.S. Customs and Border Protection, amid 2024-2025 trends such as heightened tariffs and supply chain de-risking.

BITE enters a competitive arena led by incumbents like e2open (a $400M+ revenue supply chain platform with broad compliance modules) and emerging AI challengers such as Hebbia (AI for legal/compliance discovery, $40M+ raised) and Plural (enterprise AI agents, recent $20M round). However, BITE differentiates through its niche focus on trade specific AI, founder led regulatory precision, and affordability for SMEs, segments underserved by enterprise heavy solutions. Competitors’ funding pales in scale for direct peers, but the sector’s overall $500M+ in 2024-2025 investments signals validation for BITE’s bet on AI disruption.

This round cements BITE’s role in a critical infrastructure layer for global commerce, potentially mitigating $100B+ in annual trade fines from non-compliance. Success hinges on execution in talent acquisition and customer wins, with risks including AI model biases in regulatory interpretation and intensifying competition from Big Tech entrants like Google’s trade tools. Nonetheless, the funding arrives at an opportune moment, as 2025 trade volumes rebound post disruptions, offering BITE a window to capture 1-2% market share within three years.

BITE Data’s $2.5 million Seed round is more than capital, it’s a vote of confidence in AI’s power to streamline a $28 trillion global trade ecosystem, with the company’s specialized edge poised to drive outsized returns for stakeholders.

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