June 30, 2016 Comments Off on What3words closes $8.5M Series B
What3words, a London-based gobal addressing platform, has received $8.5 million in a Series B round from logistics company Aramex, Intel Capital, Force Over Mass Capital, and Mustard Seed. What3words has created a new addresing system that replaces traditional zip codes, postal codes, and GPS coordinates with a giant global grid made up for 57 trillion 3m x 3m squares. Each 3m x 3m square has an assigned, unique and fixed string of three words. According to the company, using words means ordinary people can accurately find any location more easily and with less ambiguity than any other systems. What3words will also help improve logistics efficiency by offering location accuracy especially in areas where there are inconsistent or complicated addressing systems.
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