what3words Secures $1M to Map The World With 3X3m Squares.
Startup technology what3words has managed to close its second financial round in five months by raising over $1 million.
Launched back in July 2013 as a service that grids the world into a 3x3m square, followed by giving each a unique address of three words, This technology has recently become available for the Pebble smartwatch, a device that had been previously funded on Kickstarter.
The application for what3words has been unveiled that users can now purchase and move OneWords , so they can share location much more easierCo-founder Chris Sheldrick, had went on to reveal that the technology has been gaining attention from a “number of Potential partners, for a plethora of use cases”.
“We’ve seen a number of different companies take an interest in our platform, from mapping companies to courier and logistics firms, events and festival organisers and more,” the company CEO adds.”Our aim is to see what3words’ three-word and OneWord addresses be an accepted form of input in major navigation apps and online mapping services.”
What3word has raised a total amount of $1million along with the $500,000 it secured back in November 2013. The previous funding was used towards developing opportunities in e-commerce connection and continuing its API to allowing developers build products.
Steve Caldwell, founder of Crosstek and the creator behind the application for Pebble smartwatch says, “I wanted to create something that would be unique and useful in a real world setting”.
“I noticed that a what3words watch app hadn’t been created yet, so I used the w3w API to create one.”
The application for pebble will be providing various ways for users to find their unique thee-word address wherever they maybe, with only the single touch of a button. Investors involved with what3what business include Guy Westlake and a group of others who had wished to stay anonymous.