Ingka Group invests in what3words
The investment division of the Ikea furniture group has invested almost £12 million into What3words – a British company that divided the world into 3 metre squares and gave each square a combination of three words, to help to pinpoint addresses, reports The Times.
what3words describes itself as ” is a useful addition when street addresses are not accurate enough, and an instant, scalable solution where addresses do not exist.
Compared to current street addressing systems, 3 word addresses are far more accurate, as they refer to a specific 3m x 3m area. As the entire what3words grid is fixed, the 3 word address for a particular location will never change even if buildings or streets are redeveloped.”