The growing demand for data and the increasingly high security and privacy standards put the processes of data generation, transfer, and storage as one of the great technological challenges of the coming years. Foreseeing this potential market, the Brazilian startup Dric developed a two-dimensional code that stores and transfers any kind of digital data – videos, music, photos, PDFs, text files, zip files, and others.
Designed as a B2B product, to meet the demand of companies that need a more affordable and faster technology to store and transfer a large volume of data safely, the Dric Code is a two-dimensional code of just over 5 square centimeters that can be printed on any flat surface, such as a paper or a plastic sheet. It is a less than 100 KB file that can store up to 2.1 GB.
In a talk with LABS, Ricardo Fioravante, founder and CEO of Dric, and the CTO Rafael Sarmento explained that Dric Code is like a visual representation of a file. The premise is somewhat similar to that of a QR Code, but with a much higher storage capacity – while a QR Code can store about 120 characters, the Dric Code is capable of storing 2 billion.
“The Dric Code is a one-of-a-kind technology that improves the performance and availability of files by up to 50 times. Our technology also foresees in the future the unprecedented storage and access of large amounts of data through paper, glass, film, or any other printable surface,” Sarmento said.
To ensure the security of the encoding, transmission and decoding process, the Dric Code has built-in encryption and can only be read with Dric’s technology, i.e. the product includes the encoder and decoder features. It is possible to create a Dric Code from any computer. To decode and access the files, all that is needed is a cell phone with the startup‘s app installed. Decoding is practically instantaneous.
The great thing about the code is that it can hold up to 20,000 files and it is possible to limit access to a person, email, phone number, or device.
Sarmento explained that Dric Code can be used in many different segments, such as conversion and cloud storage, digital payments, data traffic, entertainment content, books, and educational content. The education area is, in fact, one of the startup‘s greatest bets, since the technology would allow the didactic material to be stored and accessed in a Dric Code.
Recently, Dric secured a US$ 3.5 million funding round from FJ Labs, with participation from other angel investors, such as Alec Oxenford (co-founder of Arremate.com, OLX, and Letgo), who is also a partner and a member of Dric’s board. According to the startup, the company saw its valuation increase from BRL 400 thousand to $20 million.
Fioravante, who idealized Dric Code during a sleepless night, said that the investment will be used to expand the research and development and to bolster the company’s business model. Dric plans, in the future, to expand its presence in the U.S. market, where it is represented by Marco Scabia, partner and country manager, and explore markets in Europe as well.
For now, Dric’s technology is not yet available to the end-user. The company is developing its business model and prospecting customers in several areas, from telephony and pharmaceutical companies to federal and state government entities. The company expects to have products available for the market by 2022.