G7, a logistics data provider, announced on Tuesday that it has completed a Series C+ financing round for USD 45 million at the end of March 2016. VCs in this round of financing include Temasek Capital, Tencent and Eastern Bell Venture Capital, according to G7’s Wechat official account.
This round of financing will be used in technology development and innovation. Apart from monitoring transportation by trucks, G7 plans to extend its data monitoring scope to cover data for other supply chain links like warehousing and container shipping.
Founded in January 2009, G7 is a Beijing-based company aiming to use its own smart devices to collect data on transport vehicles and provide big data services for consignors, logistics companies and drivers.
G7 developed the “G7 smart box” smart device for large truck companies in 2015. The box can acquire real-time data on the truck’s location, speed, in-car temperature, in-car humidity, and road conditions, and upload the data to G7’s website. That way, both consignors and consignees can obtain real-time information on departure time, arrival time, safety conditions and the loading and unloading of the goods.
In the second half of 2015, G7 launched its app for small- and medium-sized companies. The app can not only collect data on transport vehicles but also track drivers’ driving records and pay them accordingly.
“We are planning to improve the efficiency of logistics companies, drivers and consignors based on big data. We want to use digital methods to improve the intelligence, automation and efficiency of logistics,” said Zhai Xuehun, founder and president of G7.
G7’s users include leading logistics companies like SF Express, STO Express and Yunda Express. G7’s rival in China is Alibaba’s logistics site Cainiao. Internationally, its competitors also include Navman wireless, Mix, Omnitracs and Telogis, and India’s Rivigo.
(Top photo from Baidu Images.)