Jorge Rios, founder of Bridgefy, introduces his groundbreaking peer-to-peer networking tech that operates without internet access, ideal for disaster scenarios. Investors Cyan Banister, Charles Hudson, Josh Muccio, and Jesse Middleton dive into funding challenges and the technology's potential to bridge communication gaps. They discuss partnerships for app development and explore the shift from consumer apps to B2B solutions. The conversation also highlights the critical role of emergency communication and advocates for free speech during crises.
Bridgefy's peer-to-peer network technology enables communication without internet access, crucial for disaster scenarios and under-connected regions.
The company's revenue growth is driven by significant contracts with major entities like Ford and the United Nations, demonstrating its market relevance.
Deep dives
Innovative Technology for Offline Communication
BridgeFi has developed a technology that allows mobile applications to function without needing an internet connection. By using Bluetooth and Wi-Fi direct, the technology connects devices directly, enabling features such as messaging and file sharing even in disaster scenarios or regions lacking connectivity. This solution is particularly relevant for the almost half of smartphone users globally who do not have data plans, effectively turning their devices into useful communication tools in critical times. BridgeFi's patented approach facilitates seamless communication through existing applications by licensing their code to companies and organizations, enhancing user engagement without requiring additional infrastructure.
Significant Early Success and Partnerships
Since launching, BridgeFi has already generated substantial revenue, including a noteworthy contract with one of the world’s largest cities valued at $6 million over four years. They are also engaged in paid pilots with high-profile entities like Ford and the United Nations, which plans to implement their technology in challenging environments such as Haiti and Palestine. In addition to these partnerships, BridgeFi has secured contracts with various startups, demonstrating the technology's versatility across different sectors. The company aims to scale rapidly with a fundraising goal of $3 million to meet rising market demands and projections of reaching $10 million in revenue within a year.
Founder's Vision and Background
Jorge Rios, the founder of BridgeFi, was inspired to create this solution based on his experiences as a teacher in vastly different educational settings in Mexico, highlighting the impact of technology access on learning opportunities. With a passion for ensuring communication for those in underserved regions, Jorge emphasizes the importance of enabling free speech and reliable information sharing during crises. The technology has already been instrumental in various protests around the world, reinforcing its potential for promoting civic engagement. Jorge's vision is to broaden the technology’s reach, hoping to make it integral to smartphones globally, potentially partnering with major operating systems for widespread adoption.
*Disclaimer: No offer to invest in Bridgefy, Inc. is being made to or solicited from the listening audience on today’s show. The information provided on this show is not intended to be investment advice and should not be relied upon as such. The investors on today’s episode are providing their opinions based on their own assessment of the business presented. Those opinions should not be considered professional investment advice.