Temasek leads $45m round for China logistics data provider
Singapore’s Temasek Holdings has led a $45 million extended Series C round for G7, a Chinese logistics data smart device marker. Existing backers Tencent Holdings and Eastern Bell Venture Capital also participated in the round.
G7 is operated by Beijing-based Huitong Tianxia Internet-of-Things Technology, which was founded in 2009. The company's flagship product - the G7 Smart Box - is used by logistics companies to manage teams of haulage drivers. The device is installed in each vehicle, enabling the company to track location, speed, humidity, temperature and other related data.
The G7 Smart Box is used by about 10 major Chinese logistics companies, including SF Express and DHL, and it has been installed on approximately 200,000 vehicles. In the second half of last year, G7 launched a mobile app targeting at small- and medium- sized logistics firms. In addition to tracking vehicles, the app can be used to make payments to employees.
Eastern Bell Ventures previously participated in three rounds of funding for the company, while Tencent arrived in May of last year, leading a $30 million Series C round. G7 will use the new capital to extend its data services to include warehouse analytics, goods delivery and containerized traffic, CEO Xueyun Zhai told 36kr.
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