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G7, a Chinese language Web of Issues (IoT) generation corporate, introduced on Tuesday that it has raised $200 million in a brand new investment spherical led by means of Trustbridge Companions and CMG-SDIC Capital, along earlier traders. The budget will likely be principally used for product analysis and construction, in addition to for enhancements in buyer services and products.
G7 is a number one device provider supplier in China’s highway freight trade. It provides loT-powered subscription answers and transaction answers to freight managers. Up to now 3 years, G7 has effectively expanded its services and products from subscription answers to transaction answers. The company’s income continues to develop, pushed by means of sturdy up-selling and cross-selling.
Freight managers are corporations and organizations that set up the operations, protection, transactions and gear of highway freight. The primary sorts of freight managers come with truck fleets, shippers, third-party logistics provider suppliers, buying and selling corporations and producers. In step with BCG’s analysis, roughly 80% of the street freight delivery capability in China is controlled by means of round 700,000 freight managers.
At the one hand, G7 breaks thru the issue of acquiring real-time and correct information in numerous eventualities of the logistics trade thru IoT generation. Alternatively, it solves the protection potency and value issues of folks, cars, items and transactions with SaaS services and products, serving to small and medium-sized enterprises within the logistics trade understand virtual transformation.
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At this time, G7’s device is carried out in 2 million cars and serves just about 50,000 freight operators. It’s in a number one place in relation to buyer revel in, protection and working potency.