what3words closes $3.5m funding round

what3words has closed a $3.5m Series A funding round led by Intel Capital, with Li Ka-shing’s Horizons Ventures and several of the company’s original angel investors also taking part. what3words has developed 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.

The company believes that its technology could offers significant benefits to the postal and parcel delivery industries – particularly in geographical areas such as favelas where “traditional” postal addresses are not so relevant.

Commenting on the investment, Arvind Sodhani, Intel Executive Vice President and President of Intel Capital, said: “what3words has great potential to transform how the world shares location by making it more memorable.

“Intel’s strategy is to develop the best location technologies in the world. With what3words, people can use those technologies with more precision than ever before, which presents huge efficiency opportunities for businesses.”