9 years ago

what3words Raises $8.5M Series B Led by Aramex to Expand Addressing System

  • London-based startup what3words, which has created a universal postcode/zip code alternative aimed at simplifying location sharing, has raised $8.5 million in Series B funding led by logistics company Aramex

  • The round also included investment from existing investors Intel Capital, with UK funds Force Over Mass Capital and Mustard Seed also participating

  • The funding will be used to support the launch of an Arabic version of its addressing system and to develop a voice recognition product in the smartphone, wearables and automotive sectors

  • what3words has also been adopted as a national addressing standard by Mongolia's state-owned postal delivery service, Mongol Post.

      • ProblemTechnology

      "Traditional addresses are unreliable and inconsistent, especially in developing countries where many people lack a formal address."

      Solution

      "what3words has created a system that divides the world into 3m x 3m squares, each assigned a unique three-word combination. This system provides a universal and accurate way to share locations, even in areas without traditional addresses."

      Covered on