Startup what3words gets USD 500,000 in seed round
London-based what3words obtained USD 500,000 for its seed financing round from angel investors. Guy Westlake of Shut'l was one of those who invested in the startup. The company offers a service which points to any address using a unique combination of three words. The OneWords service points to the nearest two meters of the location. Anyone would be able to buy a particular string of OneWords to make their address easier to spot on the map.
The company said it would use the proceeds raised to develop the platform for use by businesses. No other details were provided about the plan but what3words said that talks were ongoing in the ecommerce space.
Westlake said about the funding, "what3words shares much in common with Shutl, not least the fact that they both straddle B2B and B2C markets. I believe it's a very exciting space to be in, and am delighted to put my experience to use and help the team navigate the challenges ahead."