When chief executive Chris Sheldrick, 36, ran a music booking company, events in remote locations could be put at risk when acts were unable to find the venue. With co-founders Jack Waley Cohen, 38, and former Cambridge mathematic fellow Mohan Ganesalingam, 37, he developed a system that divides the planet into 57 trillion three-metre squares, each assigned a combination of three random words. These three-word addresses are easier to remember than GPS co-ordinates, and cover areas of the world where no address systems are in place. It charges businesses – including Mercedes Benz and the Mongolian postal service – a fee to integrate its code into applications such as logistics software and car navigation systems, but waives charges to not-for-profit organisations such as the Red Cross. It has raised £15m from investors including Deutsche Bahn and Intel Capital.
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