Tencent, Temasek Invest in O2O Logistics Firm Huitong Tianxia's Series C+
36Kr.com, 4/05/16
Beijing-based Huitong Tianxia IOT Technology, operator of online logistics platform G7, has announced its completion of a USD 45 mln Series C+ round of funding, with backers including Chinese internet and mobile services firm Tencent (0700.HK), Singaporean sovereign wealth fund Temasek Holdings, and Eastern Bell Venture Capital. Following the financing Huitong Tianxia hopes to expand from haulage data monitoring into warehouse analytics, goods delivery, containerized traffic data and other areas.
Huitong Tianxia helps distribution businesses and haulage operators install its 'G7' hardware on each of the vehicles in their fleet, enabling them to track data about each vehicles position, speed, temperature and other related data. G7 modems are currently installed on approximately 200,000 cargo vehicles, with logistics firms such as S.F. Express and DHL among the company's customers.
In the second half of last year Huitong Tianxia opened up its services to small- and medium-sized firms, allowing them to access vehicle management information, app-based wage settlement and other services.
Editor's Note: For more information on this topic, please see "O2O Logistics Firm Huitong Tianxia Wins USD 30 Mln Series C," MD 5/19/15 issue.
Keywords: M&A Internet funding Tencent Temasek Series C 0700.HK logistics O2O Eastern Bell Venture Capital Huitong Tianxia VC vehicle tracking mobile application