TechCrunch March 20, 2014
Location-pinpointing startup, what3words, which is on a missing to reinvent the postcode has topped up its seed round with a further $1 million.
The U.K. startup announced a $500k seed round last November, from a group of angel investors, including Shutl’s Guy Westlake. The new financing comes from several unnamed private investors — only one of whom was involved in what3word’s previous funding round.
what3words has divided the globe into a series of 3m x 3m squares, giving each a unique sequence of three words — such as meowing.creatively.drives or lung.lots.transmitted – to make it easier to pinpoint and share a particular location.
It claims these 3 meter x 3 meter squares can provide more accuracy than a postcode, which can extend to cover a much larger geographical area than 3m squared. It’s also offering people a universal labelling system vs the different postcode/zipcodes used in different countries and regions around the world.
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