Intelligent IoT startup G7 Networks receives USD 70M for strategic financing
Founder: Zhai Xuehun
Financing status: RMB 463 million (USD 70 million) for strategic financing in 2017
Intelligent IoT startup, G7 Networks, received USD 70 million for strategic financing on December 18 to improve its efficiency.
G7 Networks is an intelligent IoT (Internet of Things) startup that mainly provides logistics companies with all aspects of fleet management, including order processing, short/long haul visibility, asset tracking, dispatch, and route planning services based on IoT and big data technology. G7 supports real-time monitoring and connects trucks, shippers, fleet managers, and drivers to optimize the entire transportation ecosystem.
Headquartered in Beijing, G7 Networks has offices in Shanghai, Guangzhou, and Chengdu with installation and a support network spanning 58 major cities across China. In addition, G7’s partnerships extend to municipalities, warehouses, financial institutions, petrol stations, and vehicle OEMs. 85% of China’s largest logistics providers rely on G7 for their Fleet Management needs. Its partners include Chinese express giants SF Express, China Post, JD.com, Amazon, Starbucks, and others. By now, G7 Networks has served more than 40,000 enterprise customers total, and connected over 600,000 vehicles.
Moreover, 60% of G7’s 1000-plus employees are dedicated to product development. G7’s team includes industry experts in supply chain, logistics, data analytics, large scale internet services, and hardware manufacturing.
In China’s previous five year plan, great strides were made to upgrade the nation’s road infrastructure. Logistics is the key to this current cycle and G7 is uniquely positioned at the crossroads of road and technology to build a robust and widely used logistics system.
This new financing round was from GLP, the world’s leading provider of modern logistics facilities, and Bank of China Group Investment Limited. The capital will be used to cooperate with its investors in technology and financial fields to improve the efficiency of intelligent IoT companies.
（Top photo from 699pic.com）