What3words, a London, UK-based location reference platform, raised $3.5m in Series A funding.
The round was led by Intel Capital with participation from Horizons Ventures and other angel investors.
The company intends to use the funds to add languages to the service, introduce voice recognition and expand the business’ geographical presence, including a new office in Silicon Valley.
Led by Chris Sheldrick, CEO & co-founder, what3words is a location reference platform based on a global grid of 57 trillion 3mx3m squares, where each square has a unique pre-assigned 3 word address like this “____.____._____”. The solution allows everyone who needs to share or find a location, whether they are travellers, companies or navigation systems.
what3words is currently available in 9 languages – from English and Arabic to Spanish and Swahili – and is already being used in more than 170 countries by logistics firms, navigation apps, travel guides and NGOs.
Users include global geographic information software company Esri, offline navigation company Navmii, the United Nations disaster recovery app UN-ASIGN and Norway’s National Mapping website Norgeskart.
FinSMEs
04/11/2015