BITE Data, an AI-native SaaS company specializing in global trade compliance automation, announced the completion of a $2.5 million seed funding round led by Las Olas Venture Capital (LOVC), a Fort Lauderdale-based investment firm. Additional participation came from New Dominion Angels and Blue Impact Venture Capital. Combined with a $500,000 pre-seed round closed earlier in the year — supported by Techstars and Refashiond Ventures — total funding now stands at $3 million.
Las Olas Venture Capital invests in early-stage B2B software companies, focusing on vertical SaaS and AI startups across the Eastern United States. The firm partners with founders who build technology that modernizes traditional workflows and improves ROI, efficiency, and productivity. LOVC applies a hands-on approach to help founders amplify growth and industry impact.
BITE CEO Thariq Kara stated, “We’re really thrilled about this investment, and super thankful for the confidence LOVC and the other investors have placed in our vision. 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. We’re getting really good traction and solving critical problems for the industry.”
Dean Hatton of 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, and we’re excited to support them as they scale their impact across industries.”
Founded in 2023 and headquartered in Leesburg, Virginia, BITE Data was established by Thariq Kara and Anne Riitho, both veterans in global trade and customs enforcement. Kara previously held a senior technical position at U.S. Immigration and Customs Enforcement (ICE), while Riitho led supply chain investigations for U.S. government agencies.
Amid growing geopolitical complexity and increasing reliance on tariffs and sanctions, BITE Data is developing advanced AI-powered tools to automate global trade compliance for both import and export processes. The newly secured funding will support engineering expansion, sales team development, and continued product innovation to drive growth in the trade compliance sector.