SAIC Capital, Alpine Electronics Inc and Nico Rosberg announce investment in what3words
Today, what3words is proud to announce that SAIC Capital, the Venture Capital arm of SAIC Motor Corporation Limited, China’s largest auto group, has invested in the company, alongside former Formula One champion Nico Rosberg. Alpine Electronics Inc. – who specialise in audio and navigation systems and count premium global carmakers as clients – also join the ever-growing number of automotive companies backing what3words. Existing investor Intel Capital has also participated in the round.
These new investors join Daimler, which earlier this year took around a 10% stake in the company, equipping what3words with backing from an influential and diverse range of automotive and navigation experts.
Michael Cohen, Investment Director at SAIC Capital said ‘what3words is entering a new phase in which the company has a growing presence in the automotive world. We are excited to back them now, ahead of the technology becoming commonplace in all vehicles, and look forward to the global adoption of their unique system.’
“what3words is a truly revolutionary way to talk about location, and a technology that makes a huge positive impact on the world’ says Nico Rosberg. He continues, ‘I can now get into my car, and navigate somewhere by just saying 3 words. Car manufacturers that can offer a more accurate, easy to use navigation system have a real opportunity to enhance the driver’s experience and make big progress towards sustainability.”