Australia-listed urban toll road manager and developer Transurban has led the $5.5-million Series A funding round in Melbourne-based technology company Bluedot Innovation. Transurban contributed $4 million in the round.
Other investors including Jeff Katz, founder of Mercury Payments, and David Jacques, founding CFO of PayPal, also participated in the round, Bluedot said in a statement. The Melbourne startup has raised $13 million in total funding to date.
Bluedot Innovation, a geo-location technology company, specializes in offering location-based services and payments.
Bluedot enables enterprises to connect with their customers through interactions based on location and context of the customer. By combining technology and focus on the behavior and needs of each individual user, Bluedot supports contextual engagement, business intelligence and mobile commerce.
In November 2017, Bluedot and Transurban collaborated to create LinktGO, a GPS-based tolling payment channel which allows Australian users to make toll road payments from their phone.
Established in 1996, Transurban manages and develops urban toll road networks in Australia and North America. It was said to be a Top 20 company on the Australian Securities Exchange (ASX).