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Online Fleet Management Service G7 Wins USD 70 Mln Funding

NetEase Tech, 12/18/17

Beijing-based Huitong Tianxia IOT Technology, operator of online logistics platform G7, has announced the completion of USD 70 mln in strategic funding from Singaporean provider of modern logistics facilities Global Logistics Properties and Bank of China's wholly-owned direct investment services platform Bank of China Group Investment.

G7 also announced a strategic partnership with the Bank of China's Beijing branch to collaborate in areas such as overall financial services between G7 and Bank of China, small- and micro-business finance and inclusive finance, IoT, and big data.

G7 is an IoT company that specializes in providing comprehensive fleet management services to logistics companies based on IoT and big data technology, thereby improving time-efficiency, cost, and safety management levels for fleet clients and logistics businesses. G7's clients cover various industries such as express delivery, express freight, consumption, e-commerce, food, and hazardous chemicals. Its client companies include domestic express delivery firms such as S. F. Holding (002352.SZ), logistics provider China Deppon Logistics, Chinese B2C e-commerce platform (Nasdaq: JD), retail giant Walmart, e-commerce giant Amazon, and Chinese telecom equipment and terminal manufacturer Huawei.

Editor's Note: For more information on this topic, please see Logistics Service Firm Huitong Tianxia Completes USD 45 Mln Strategic Funding, MD 2/13/17 issue.

Keywords: Bank of China Group Investment VC M&A Internet funding logistics big data IoT Huitong Tianxia Global Logistics Properties G7 vehicle tracking


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