ByteTrail is using the latest technology, standards and protocols to create a comprehensive digital triplet of a company's IoT/OT networks. Complete visibility of all devices is a requirement and oncoming regulatory will require audits of software supply chains. Digital twins are representations of physical world systems, but the addition of machine learning and GenAI creates a constantly updating environment.
Industrial Internet of Things (IoT) devices have proliferated in the last decade. However, the infrastructure to support them is immature at best. Research has shown that 75% of these devices installed all over the world, and running our critical infrastructure have NEVER been updated (firmware, passwords, O/S, applications and more). Worse, we know that 70% of cyberattacks are using IoT networks to traverse laterally in targeted companies.
ByteTrail is building the software ecosystem to provide automatic and continuous device update capability at the edge. Firmware, O/S, applications and configurations are changed remotely and autonomously. AI cannot be performed accurately at the edge without this capability.
This is one of the last IT functions that needs full automation, and it is enabled by current technology.
We self funded the first 16 months of development (over $700K) to build the functional system.
We have raised over $500K in angel funding and are looking for $2M to build out our team.
We have one customer in production in our MSP environment and are negotiating the contract today.
Added key advisors from Intel, Blue Yonder and Intellic Integration. Deep expertise and market knowledge
We have eliminated founder risk, technology risk and are about to solve for market risk by engaging with significant partners.
Formalized the advisory board for the company. Current members: Alec Gefrides (Intel: IoT, architecture, standards, technology) Chris Burchett (Blue Yonder: cybersecurity, supply chain) James Brehm (J Brehm and Associates: IoT devices, manufacturers and market, 5G, digital transformation) Walker Reynolds (Intellic Integration: Industry 4.0, digital transformation, unified namespace)
We have built the basic foundational flow for our product. We have one customer operating successfully there now.
Closed angel funding on a convertible note in the amount of $500K. This note is still open and we are actively raising more.
Began a teaching customer engagement with a very successful integrator for Industry 4.0 technologies.
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