December 10, 2018, Beijing China — G7, China’s leading Internet of Things (IoT) company, announced today that it had completed a funding round with record-setting US$320 million in October. This round of investment was led by HOPU Investments. Other new investors include China Broadband Capital (CBC), iFoF (Intelligent Fund of Funds), Mount Morning Capital, Total Energy Ventures, and TH Capital. G7’s existing shareholders, GLP, Bank of China Investment, and Tencent etc. participated this new round.
The size of fund raised by G7 in this round sets the record in global IoT start-up scene. In over a year, G7 has received approximately US$500 million of investment through multiple rounds, and has become one of the most valuable IoT companies in the world.
Based on its proprietary Artificial Intelligence in IoT (AIoT) platform, G7 provides integrated fleet management solutions and services, which cover safety, energy, payments, financing, and Intelligent-equipment-as-service, to logistic enterprises and freight fleets. Together with industry partners, G7 is co-developing autonomous trucking network. Serving more than 60,000 customers and over 800,000 commercial vehicles, G7 is now the world’s largest integrated fleet management platform.
“Technology is having a profound impact on the industry. Based on IoT, big data, and artificial intelligence, the smart fleet model is fundamentally changing the way fleet operates and is forming a new generation of logistics infrastructure with much improved efficiency. G7 is looking forward to working with investors and partners, through the use of innovative technologies, to accelerate the industry transformation.” said Xuehun Zhai, Founder and Chief Executive Officer of G7.
“Artificial Intelligence in IoT (AIoT) is reinventing transportation and logistics equipment. Intelligent equipment and asset-as-a-service are the next big waves. The scale of our data and neutrality of our industry-wide platform are at the core of our competitive edge. We are determined to proactively invest in intelligent equipment and infrastructure so that we will continue to lead the change.” said Julian Ma, President of G7.
Simon Chen, Partner at HOPU Investments, said “Technological innovation is the leading force in driving the industry’s transformation. G7’s unique platform capabilities and huge user base allow the industry to benefit from the technological innovation, to which is of great business and social value. HOPU Investments looks forward to advancing the industry together with G7 by leveraging the power of our capital and technology.”
In the last two years, G7’s strategic shareholders, GLP, Bank of China Investment, Tencent and NIO Capital, have made multiple investments in the company as well as in Inceptio Technology, an autonomous trucking company initiated by G7. Leveraging on the respective industry advantages and G7’s neutral and open platform, G7 and its shareholders are building an ecosystem that encompasses logistics, commercial vehicle, energy, financial services and emerging technologies.
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