ByteTrail, Inc.

Industrial Internet of Things (IoT) devices have proliferated in the last decade. However, the infrastructure to support them is immature to nonexistent. ByteTrail is building the software ecosystem to provide device update capability at the edge. Firmware, O/S, applications and configurations can be changed remotely and autonomously. Without this capability, devices are vulnerable (some experts posit that most IoT devices are significantly out of date). AI cannot be performed accurately at the edge without this capability and all the devices present an undefended attack surface. ByteTrail is building the solution designed for ease of use, abstracting IT complexity and putting control in the OT operator's hands.

Delivered first customer install in August 2023. Next three customers are identified, 2 are committed, we are negotiating.our GTM strategy includes attacking the following 3 vectors:
1) Device OEMs (we want them to include our tools on their devices) - so far every one we talk to is interested in pursuing this. One of our 3 customers includes a PLC OEM, they do not want to be in the software business, this applies to many more. Closing these deals creates a pull strategy for our SaaS software.
2) Integrators/VARs (we want them to carry ByteTrail as a solution for their customers). Our first customer is an integrator, they are ready to expose us to their other clients. This is a customer acquisition strategy that dramatically drops CAC.
3) Enterprise companies (we want to prove that small, medium and large companies need our product/services). One of our customers is a $30B manufacturer with 95 plants in 45 countries. This is kicked off in a pilot now. It will have NRE $$ attached to it.
In October, we have brought on a very strategic advisor who is 30 years in the industry as an analyst, solution provider and consultant. He is bringing us to the table with a number of very large, very strategic firms who can leverage this in their practice. We have also just secured a very experienced enterprise sales resource who is passionate about this space. He starts on Oct 16.

The SMEs we have demoed our software to are blown away by the capabilities they see. This solution could not have been built 5 years ago, but with the adoption of a few standards and the development of some new enabling technologies we have built a novel architecture that uniquely solves this very large problem with scalability.

We have self funded this project at $500K to MVP and now need outside capital to execute on this very enormous opportunity.