Chinese logistics big data firm G7 has completed a US$45 million series C+ round of funding from Tencent Holdings Ltd., Singapore’s sovereign wealth fund Temasek Holdings and Eastern Bell Venture Capital, according to Chinese media reports.
The company operates similarly to global competitors such as Navman wireless, Mix, Omnitracs, Telogis and Fleetmatics.
It helps logistics companies better manage their fleet of trucks, enabling them to track key data on each vehicle after installing a device that the company calls "wearables for trucks".
G7 says around 200,000 cargo vehicles in China have installed its devices, and claims S.F. Express and DHL as among its customers.
In May 2015, Tencent led a US$30 million venture round in G7.
G7 says it plans to use the latest proceeds to expand into warehouse analytics, delivery and cargo transfer records.