what3words, a London, UK-based addressing platform used by organizations globally to coordinate projects and services, raised $8.5m in Series B funding.
The round was led by Aramex, a global provider of comprehensive logistics and transportation solutions, which invested US $2.94m, with participation from previous investors Intel Capital and British funds Force Over Mass and Mustard Seed.
The company intends to use the funds to launch its voice recognition product in the smartphone, wearables, and automotive sectors, develop its address system in several Asian languages, grow its team and further global expansion.
Led by Chris Sheldrick, CEO and Co-Founder, what3words is an address system based on a global grid of 57 trillion 3mx3m squares, where each square has a unique pre-assigned 3-word address. Already available in 10 languages and used in more than 170 countries, the solution allows everyone who needs to find or share a location – whether they are navigation apps, governments, logistics firms, travel guides or NGOs.
Notable integrations include navigation software platform Navmii, Norway’s National Mapping Agency, The United Nations data collection app UN-ASIGN, and the geographic software providers including Esri, Safe Software, and Boundless.
Aramex will use the “what3words” address system in its e-commerce fulfilment operations across the Middle East, Africa, and Asia to further enhance its last-mile delivery solutions. The company has already invested in a number of mobile-based startups to improve its last-mile delivery solutions, including Grab and Logisure in India, Shippify in South America and CashBasha in Jordan and Saudi Arabia.