Destiny Man - - ED’S NOTE -

Co-founder and CEO: Rikatec, Jo­han­nes­burg

When co-founders Mhlari and

Jesse Matheri were shop­ping Rikatec around – a sys­tem that uses big data and ma­chine learn­ing to pre­dict and de­tect ve­hi­cle break­downs, pre­dict main­te­nance, mea­sure ve­hi­cle wear and tear, cal­cu­late ve­hi­cle re­sale value and rate driv­ing – they faced re­jec­tion at ev­ery turn, not be­cause their prod­uct wasn’t vi­able, but be­cause the ma­jor mo­tor man­u­fac­tur­ers and in­sur­ers be­lieved what they were propos­ing was im­pos­si­ble.

To­day, they have 17 500 Rikatec units out in the mar­ket and are mak­ing in­ter­na­tional waves. “Be­cause it’s tech­nol­ogy that’s highly in­ter­con­nected and has never been done be­fore, we didn’t have a blue­print to cre­ate it – in­stead, we needed to cre­ate the blue­print and learn how to cre­ate the tech­nol­ogy,” says Mhlari. “It was ex­tremely dif­fi­cult do­ing that while study­ing fi­nance and ac­count­ing!”

The ap­pli­ca­tions for the Rikatec tech­nol­ogy are near-end­less and could come to play a piv­otal role in pre­dict­ing fail­ures and mon­i­tor­ing per­for­mance in all man­ner of in­dus­tries. “Be­cause we use firmware, rather than hard­ware, we’re an In­ter­net of Things com­pany, so we’re able to pro­vide a ser­vice and cre­ate soft­ware for nearly any sys­tem that out­puts data,” says Mhlari.

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