- 24 March 2021
- Transport / Logistics Services
UK based location addressing system company What3Words has received £12 million in investment from Ingka Investments. The money is being used to launch the company’s solution into new international markets, at the same time developing partners within the e-commerce and logistics sector.
Krister Mattsson, managing director of Ingka Investments, said, “We are delighted with this new investment in what3words as they are an innovative company, and we are confident of their continued growth. With an increasing demand for home deliveries, scalable and sustainable solutions are becoming increasingly important. We see value in helping to support the build-up of a universal addressing system that can lead to better customer experience, while the precise locations will allow for a reduction in overall miles traveled, reducing the carbon footprint of home deliveries.”
The what3words system has a three word address for every three square metre square on the planet. In giving a three word address, so a courier (or other people like emergency services) can locate you wherever you are. For couriers, the address can show them which door to use on a large building for instance, improving their speed of delivery and reducing CO2 emissions in not finding the exact location.