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ByteNite

Moving Beyond the Cloud with Distributed Computing

Last Funded March 2024

$103,085

raised from 137 investors

Highlights

1
Poised to capture a significant portion of $223 billion opportunity
2
Previously raised $600K
3
Demonstrated processing speeds up to 10x faster than AWS EC2
4
Users of the network can earn up to $150/mo from each device

Featured Investor

Our Team

I wanted to invent a solution that can generate value from the existing technological context and help people around the world redeem their power on technology.

Pitch

The Challenge: Scarce Computing Power

In the computing world, cloud server farms have continued to be a popular choice for data processing. However, this approach struggles to match the escalating demand for processing power due to the global microchip shortage and the surge in computationally demanding tasks like AI (artificial intelligence) and ML (machine learning). 

This scarcity of computing power has significantly overvalued cloud server farms, reduced accessibility to computing services, and exacted a heavy ecological strain on the environment.

ByteNite offers a distributed, managed alternative to traditional cloud systems. Our solution is not only as viable as cloud computing but also more accessible, scalable, and eco-friendly.

Meet ByteNite: Your Global Supercomputer

Unleash boundless computing power from any device, anywhere.

ByteNite is cutting-edge distributed grid computing software. It harnesses the collective power of smartphones and computers to tackle demanding tasks, transforming your devices into a supercomputer. 

Our mission is simple: To unleash massive computing power from everyday devices!

The ByteNite System represented through different layers

Cutting-Edge Technology

Our advanced distributed computing tech turbocharges parallel workflows, from video processing to simulations. 

ByteNite outperforms competitors in simplifying complex tasks, thanks to our proprietary load-balancing algorithm. Your data is split into tasks and distributed seamlessly. 

And as icing on the cake, we're patent-pending in the US and Europe! Join us in revolutionizing computing power.

Become a Supplier and Earn Up to $150 Per Month!

Suppliers earn "ByteChips" for completing tasks—a unique currency with real value. Convert them into bank transfers or redeem gifts. With our revenue model, you can earn up to $150 monthly per device using standard computer setups (e.g., 16GB RAM and Intel i5).

Becoming a supplier is easy: sign up for our Worker App, available in 2024 for computers and Android devices. It securely processes customer data using spare processing capacity. Run it in the background or at your convenience.

Anyone Can Unlock the Power of Limitless Distributed Computing

Join our centralized Computing Platform, honed over two years. Upload and launch processing jobs on our distributed network effortlessly. Accessible through an online UI and API, it includes optimized, ready-to-use applications.

Our flagship application? Video encoding—a $1 billion market. We excel in transcoding to popular formats and codecs, seamlessly connecting to your storage or streaming service. With our API, integration is a breeze for automated access.

Choose flexible payment options: monthly subscription or one-time packages with preset operation amounts and discounts for bulk orders. 

ByteNite’s Impactful Use Cases


Management believes that ByteNite’s revolutionary technology will have immediate, profound effects on:

  • 🛰️ Computational Simulations: Aerospace, automotive, chemical engineering, and bioengineering benefit from faster problem-solving with ByteNite's distributed computing. Save months in go-to-market efforts!
  • 🎥 Media Processing: Education, entertainment, and surveillance industries rely on video processing. ByteNite's API handles large video volumes, lightening the load for integrators.
  • 🤖 Generative AI: Empower AI generation of image sets, synthetic data, and videos across industries, achieving unparalleled speed.
  • 🔹 3D Rendering: Architecture, engineering, and manufacturing projects speed up with ByteNite, cutting down rendering time bottlenecks.

Why ByteNite Stands Out

At ByteNite, we’re committed to building software that amazes people. Not only do we care about computing performance and speed, but we also implement the highest standard of security measures and are committed to reducing the carbon footprint of computing by adopting environmentally-friendly practices. 

Below are our key differentiation points from other computing solutions.

  1. Lightning-Fast Processing: Our chunk-based technology accelerates data processing up to 30x faster than traditional cloud solutions, ensuring unmatched speed and scalability in video encoding and more.
  2. Robust Cybersecurity: ByteNite prioritizes security with data encryption, continuous network monitoring, data segmentation, privacy measures, and strong access controls, making us a trusted choice for distributed computing.
  3. User-Friendly Applications: Unlike decentralized computing platforms, we offer ready-to-use applications like video encoding, 3D rendering, and generative AI. Customers can also customize their apps with ByteNite.
  4. Eco-Friendly Computing: With geographically dispersed processors, we eliminate the need for energy-intensive cooling systems. Joining ByteNite reduces energy consumption by up to 37% compared to data centers and cuts electronic waste by 7%.


Unlocking Opportunity: ByteNite’s Market Potential & Financial Projections

Our Total Addressable Market (TAM) for Video Transcoding, 3D Rendering, Computer Vision, Generative AI, and Simulation Software is projected to reach $223.09B by 2028.

For investors, here's the key figure: the Serviceable Available Market (SAM). It reflects what we can realistically serve based on our current capabilities and business model. Our SAM is estimated at $93.42B, approximately 42% of the TAM.

Furthermore, we anticipate a Serviceable Obtainable Market (SOM) of $1.11B. This is based on industry knowledge and sensible assumptions, aiming to capture 5% of the SAM in Video Transcoding and 3D Rendering markets, and 1% in Computer Vision, Generative AI, and Simulation Software markets.

This significant opportunity is complemented by the immense potential of 12 billion consumer and industrial computing devices, including computers, servers, smartphones, and tablets. These devices typically remain idle for about 8-12 hours daily and could be utilized to serve this market.

Our Lucrative Financial Model

Our Revenue Model in a Nutshell:

  • We ensure fair revenue sharing, benefitting both our business and network users. 70% of revenue directly goes to our users, allowing them to profit from their devices.
  • We generate revenue by selling computing applications through one-time purchases or recurring ByteChips subscriptions. Customers can try our services and then choose a monthly commitment, with a freemium program for new users.
  • Pricing for each application varies based on task type and complexity. For example, high-efficiency, ultra-high-definition video encoding may cost up to 50 ByteChips (~$0.25) per minute.
  • We may adjust pricing structures for different applications or enterprise deals as needed to ensure consistency and profitability.

Revenue Outlook:

  • 2024: We launch revenue generation with pilots in media processing, simulations, and generative AI, targeting approximately $450K in revenue from subscriptions, one-time purchases, and enterprise deals.
  • Growth Plan: We anticipate a robust ~3x growth rate until 2027, followed by a steady 1.5x growth rate in subsequent years.
  • Stretch Goal: These projections project ByteNite surpassing $50M in revenue within five years, positioning us among the top 100 computing providers and setting the stage for our next phase of growth. Join us on this journey!

Fundraising & Goals

We’re raising capital to jumpstart our market growth and unlock the revenue opportunities that await us!

What We’ve Done

▶️ In 2022, we raised $600K from a business partner and began working on the technical development of our products. 

⏩️ In late 2022, we moved to the United States, which allowed us to grow our business with a network of partners, investors, and early adopters. 

⏩️ In early 2023, we released a beta version of our distributed computing software. Our app got 500+ beta testers and gained attention from several SaaS marketplaces.

⏩️ In September 2023, we got selected to pitch at the prestigious TechCrunch Startup Battlefield 200 competition in San Francisco. Watch the replay below!

⏭️ Fall 2023 onwards, we’re working with a pilot customer to run a video processing workflow on ByteNite.



How We’ll Use Your Funds

Sales and Marketing 💰

We’ll use 38% of funds (up to $470,000) to ramp up sales and marketing and broaden our horizons beyond beta testing, which includes hiring a sales expert and a marketing manager. Additionally, we’ll craft a unique brand strategy that highlights our competitive advantages, setting us apart from cloud space competitors. 

Product Development 🖥️

Another 34% of funds (up to $420,000) will fuel ongoing software development, maintenance, and support for our current product. This involves hiring a video engineer to improve our feature set for the current video processing application, and a full-stack engineer to help us further develop our holistic application suite, which will include a new Generative AI text-to-image that runs distributedly on our infrastructure.

General and Administrative 🏢

The rest of the funds will be used to maintain the current management team, including the CEO and the CTO, legal expenses, rent, travel expenses, and consulting fees.

Meet the Team

Our team is composed of distributed computing enthusiasts with extensive experience in business development, software engineering, and tech marketing. 

Over the past two years, we’ve acquired in-depth proficiency in distributed computing and intensive applications through hands-on coding, actively participating in webinars and hackathons, engaging with industry experts, and contributing to the field with research and publications. 

This collective experience uniquely positions us as the ideal group of people to address and overcome the challenges of building a worldwide grid computing system.

Core team:

Advisors:

Invest in the Future of Computing

At ByteNite, we’re not just shaping the future of computing – we’re redefining it. 

We firmly believe that distributed computing is the bridge spanning the gap between surging processing demands and the substantial costs of consumer tech and hardware. 

We predict that disruptive technologies like AI and machine learning will have a significant impact on the computational requirements of modern chips. Therefore, our conviction is that collaborative computing will increasingly become a viable solution as connectivity improves and processor technology advances.

Choosing to invest in ByteNite means championing a venture that stands at the cusp of transformative technology. With your support, we will keep growing and move our startup to the next stage of development. 

Together, let’s propel computing into a remarkable new era.

*forward looking projections not guaranteed*

Overview