Data Science Investment Counter —Funding raised by UK data science companies in 2018.
£ 5.640 Million

Cortex Logic will acquire Tesla Water solution

Cortex Group will acquire Tesla Water’s water quality monitoring solution, the company announced last weekend.

The investment comes after Cape Town-based artificial intelligence (AI) startup Cortex Logic, of which Cortex Group is the holding company, revealed in February they had secured an investment from an undisclosed investor.

Cortex Logic made the announcement through a press release last Friday, saying that Cortex Group was about to sign a “definitive agreement” to acquire Tesla Water’s Smart Water Pro solution.

“The acquisition will allow the company to not only further extend its ability to provide its customers with solutions that meet their demand for AI use cases,” said Mr Terry Booysen, CEO of Tesla Water  in the press release, “but will also address the increased demand by water users to have an independent party monitor the quality of the water being provided, to track the efficiency of their water treatment systems and to provide reporting required by regulations”.

Cortex Logic was founded by Jacques Ludik in 2015. Commenting on the news, Ludik said: “This acquisition is an excellent complement to our expertise in both AI and intelligent-edge hardware and will extend our ability to meet the evolving needs of our customers globally – allowing us to accelerate our own growth, in parallel.

Ludik also highlighted the relevance of Tesla Water’s position on the market: “Based on the pioneering work conducted by Tesla Water, predictive analytics and deep machine learning within the Water Vertical currently holds a strong position within the market – and we will offer a wider range of use cases.

“The acquisition brings with it exceptional talent and offers us the ability to develop even more comprehensive solutions for our clients” he concluded.

Image via Wikipedia.

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