G7, a Bejing, China-based Internet of Things (IoT) integrated fleet management platform company, raised US$320m in funding.
The round was led by Hoph Investments, with participation from China Broadband Capital (CBC), iFoF (Intelligent Fund of Funds), Mount Morning Capital, Total Energy Ventures, and TH Capital, and existing shareholders GLP, Bank of China Investment, and Tencent.
In over one year, G7 has received an estimated US$500m through multiple rounds.
Led by Xuehun Zhai, Founder and Chief Executive Officer, and Julian Ma, President, G7 leverages a proprietary Artificial Intelligence in IoT (AIoT) platform to provide integrated fleet management solutions and services, which cover safety, fuel, payments, financing, and Intelligent-equipment-as-a-Service, to logistic enterprises and freight fleets.
The company serves more than 60,000 customers and over 800,000 commercial vehicles.