BITE Data Corporation, an AI-native SaaS company specializing in global trade compliance automation, has announced the successful closure of its $2.5 million Series Seed funding round, led by Las Olas Venture Capital (LOVC). Additional participation came from New Dominion Angels and Blue Impact Venture Capital, bringing the company’s total funding to $3 million following its earlier $500,000 pre-seed round closed in June, backed by Techstars and Refashiond Ventures.
Founded in 2023 by Thariq Kara and Anne Riitho, BITE Data is developing AI-driven software that simplifies and automates import and export compliance workflows—a traditionally complex and manual area of global trade operations. The new funding will help expand the company’s engineering and sales teams as it scales its operations and product reach across industries.
AI-driven compliance for a changing global trade landscape
“Global trade is in huge flux, and we want to provide useful, efficient automation tools that build on the latest advancements in AI,” said Thariq Kara, CEO and co-founder of BITE Data. “We’re incredibly thankful for the confidence that LOVC and our investors have placed in our mission to modernize compliance and risk management.”
Dean Hatton, a partner at Las Olas Venture Capital, commented, “We’re thrilled to back BITE as they modernize a critical, often-overlooked function in global trade. Thariq and Anne bring unmatched regulatory and technical expertise, and their AI-driven platform is transforming how companies manage compliance risk and cross-border operations. BITE’s technology brings speed, accuracy, and accountability to an area that has long relied on manual processes.”
Investing in the future of intelligent trade compliance
Headquartered in Leesburg, Virginia, BITE Data is focused on building AI-powered tools that enable organizations to navigate growing geopolitical and regulatory complexities—from tariffs and sanctions to export restrictions. With AI at its core, the platform aims to deliver automation, transparency, and efficiency to industries impacted by the rapidly shifting global trade environment.
The company’s founders bring a strong background in trade regulation and enforcement. Kara previously held a senior technical role at U.S. Immigration and Customs Enforcement (ICE), while Riitho led supply chain investigations for U.S. federal agencies.
Las Olas Venture Capital, known for investing in early-stage B2B SaaS and AI startups, takes an active and collaborative role in helping founders modernize outdated business workflows. The firm’s involvement in BITE Data underscores growing investor confidence in AI’s potential to disrupt trade compliance, a space traditionally underserved by technology innovation.
Ruchi Kumar is the associate editor at Entrepreneur News Network and TVW News India, where she leads editorial strategy, brand storytelling, and startup ecosystem coverage. With a strong focus on innovation, business, and marketing insights, he curates impactful narratives that spotlight India’s evolving entrepreneurial landscape. She has written extensively on fintech, AI and emerging startups.