Ikea and ITV invest in location tech startup what3words

Ikea and ITV have both thrown their weight behind a startup that has divided the world into three-metre squares each with a unique three-word name to help pinpoint addresses.

Ingka Group, the holding company behind the Swedish flat-pack giant, has pumped £12m into what3words, while ITV has taken a minority stake valued at £2m.

What3words, which was founded in London in 2013, is designed to tackle the inaccuracy of street addresses and provide precise locations such as building entrances, parks and many rural areas.

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