International technology, media and telecoms law firm Olswang has advised what3words, the location reference platform, in relation to an investment round led by Aramex Ventures LLC. The US$8.5m Series B fundraising round also included existing investors Intel Capital, Force Over Mass Capital and Mustard Seed.
what3words is based on a global grid of 57 trillion 3mx3m squares, where each square has a unique pre-assigned three word address. Finding an address and communicating it to others remains an imperfect science, but this global system overcomes the issues caused by irregular and incomplete street addressing.The solution helps users who need to find or share a location – whether they are navigation apps, governments, logistics firms, travel guides or NGOs. It is currently available in 10 languages and used in more than 170 countries.
CEO and Co-founder of what3words Chris Sheldrick commented: "We have been delighted with Olswang's work for us across the board. We have a number of intricate IP requirements, and we've benefited from the huge depth of understanding relevant to our exact needs across the Olswang team. Olswang have always been responsive and thoughtful in their advice and leave nothing to chance. We're delighted to work with them and regularly recommend them to other growing tech companies."
Olswang M&A Partner and International Head of Corporate Mark Bertram commented: "We were very happy to advise Chris and what3words on this strategic fundraising, having previously advised on its Series A last year. what3words is fast becoming the 'go-to' addressing system helping people all over the world and businesses to drive efficiencies and improve their overall customer experience. We look forward to supporting them further in the future."
Olswang Partner Mark Bertram led the deal, supported by Corporate Associate Joshua Swerner. IP Partner Joel Vertes advised on the intellectual property aspects, and Tax Associate Rebecca Griffiths provided tax advice.
Read more about Olswang’s international legal practice on the firm’s website.
