Part of that funding included $US4 million from ASX-listed infrastructure giant Transurban, a group which has released an app - LinktGo - powered by Bluedot technology.
The tech – “20 times the accuracy” of its closest rival, according to Davityan – can allow businesses to pinpoint customer locations with unrivalled precision – in some cases just a few metres, compared with the traditional hundred.
Davityan is aware of the power a good partnership can have, particular between a startup and larger business with experience and knowledge across multiple sectors.
“As a startup you really tend to focus on a particular type of product or a particular problem that the customer has in an industry,” he said. “There are always traditional companies, often very large corporates and other businesses that have been in the market for decades.”
“It's really critical to both have that support and credibility but also to work with [those companies] to understand what their pain points are what they actually need - so you're not developing technology in a vacuum.”
ANZ’s GM Small Business Banking, Australia Guy Mendelson is well aware of the impact large businesses can have by supporting startups.
ANZ has spent “a lot of time” working with the University of South Australia on programs aimed at helping SMEs take the next step, he told bluenotes .
“Starting up is complex,” he said. “But once you get it going that growth phase can be really daunting. Making sure [SMEs} have a series of people around them that can support them [is important].”