Dubai: Aramex said on Wednesday it has invested $2.94 million (Dh10.8 million) in location platform “What3Words” as part of a wider $8.5 million capital investment in the company.
Aramex said it will use the platform’s address system in enhance its delivery solutions across the Middle, Africa and Asia, according to a company statement.
What3Words is an address system based on a grid using 3-metre-by-3-metre squares, according to the statement, where each square has a unique three-word address. The platform’s aim is to make it easier to find and share locations.
“By integrating 3 word addresses into our e-commerce operations across the Middle East, Africa and Asia, we are now better able to reach more consumers worldwide, even those in difficult to access locations,” Aramex chief executive Hussain Hachem said in the statement.
Intel Capital and British funds Force Over Mass and Mustard Seed also contributed to the $8.5 million funding, according to the statement.
What3Words is a three-year-old company based in London. It has divided the planet into 57 trillion 3-metre squares, each named with a unique combination of three random words.