China: G7 raises $45m from Tencent, Temasek

Beijing-based logistics big data firm G7 has raised $45 million in its Series C round from Temasek Holdings, Tencent and Eastern Bell Venture Capital, according to multiple Chinese media reports.

G7, which is a subsidiary of Huitong Tianxia IOT Technology, will use the funds to develop its technology offerings. It also intends to improve its ability to monitor data in other supply chain processes like warehousing.

According to an article on China Money Network, G7 has installed its smart device in approximately 200,000 cargo vehicles in China. With the device, the company is able to compile data that will assist logistics companies and drivers in planning routes and understanding more about the vehicles’ speed, humidity, and temperature. The company also launched an app to help drivers get paid for their work.

“We are planning to improve the efficiency of logistics companies, drivers and consignors based on big data. We want to use digital methods to improve the intelligence, automation and efficiency of logistics,” said Zhai Xuehun, founder and president of G7, as quoted by a report on All China Tech.

The All China Tech report also noted that G7’s clients include logistics companies like SF Express, STO Express and Yunda Express. In China, it faces competition from Alibaba-owned Cainiao, and from Navman Wireless, Mix, Omnitracs, Telogis, and Rivigo elsewhere.

Nearly a year ago, G7 had raised a $30-million round led by Tencent.

Earlier last month, Temasek Capital, which is Singapore’s sovereign wealth fund, was reported to be an investor in Cainiao, alongside other sovereign wealth funds like Khazanah and GIC.

Also Read: 

Temasek has valuation concerns about Chinese tech industry

WeChat payments rocket as China’s Tencent rides gaming wave

Alibaba logistics arm raises funds from Temasek, Khazanah, GIC & Primavera

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.