UK: what3words has closed an $8.5 million Series B funding with logistics giant, Aramex, Intel Capital and others that were participating. The financing round was led by global logistics giant Aramex, with existing investors Intel Capital and British funds Force Over Mass Capital and Mustard Seed chipping in.
Aramex operates in 60 countries around the world, and will use what3words in its e-commerce fulfilment operations across the Middle East, Asia, and Africa to further enhance its last-mile delivery solutions.
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. The solution helps everyone who needs to find or share a location – whether they are navigation apps, governments, logistics firms, travel guides or NGOs. what3words is currently available in 10 languages and is being used in more than 170 countries.
Aramex’s integration of the technology into its e-commerce operations demonstrates its commitment to investing in innovative solutions, to not only enhance its business operations, but make the logistics and transportation industry more efficient and effective.