Last G7 valuation
$2.2B
Undisclosed stage · Feb 2022
Last G7 funding round
$200M
Undisclosed stage · Feb 2022
Cumulative funding G7 raised
$710M
across 6 funding rounds
Key investors in G7
GLP
Tencent
CBC Capital
Bank Of China
Temasek
Eastern Bell Capital
About G7
G7 is a Beijing-headquartered telematics provider for China's logistics sector with an installation base exceeding 800,000 cargo vehicles nationwide. Its hardware devices track real-time location, route optimization, fuel efficiency, and cargo conditions such as temperature and humidity for fleet operators. The company processes billions of data points daily through its cloud platform, serving major logistics firms like JD Logistics and SF Express. Listed on the Hong Kong Stock Exchange since 2020 under ticker 2599.HK, G7 operates in over 300 cities and integrates with insurance providers for usage-based premiums. Its IoT solutions extend to cold chain monitoring and driver safety analytics.
Founded
2010
HQ
Website
Status
Privately held
Customer focus
B2B
Revenue model
Subscription
Valuation
$2.2B (Feb 2022)
G7 Valuation
G7 is currently valued at $2.2B, based on its undisclosed-stage round in February 2022.
The $200M round was led by CS Capital and Trustbridge Partners, with participation from CBC Capital, GLP, China Coal Xinji Energy and Chaos Investment.
G7 valuation by funding round
| Date | Stage | Valuation |
|---|---|---|
| Feb 2022 | Undisclosed stage | $2.2B |
G7 Funding History
G7 has raised a total of $710M across 6 funding rounds.
G7's first fundraising round was a $30M Series B in March 2015. The most recent completed round was a $200M undisclosed-stage round in February 2022.
G7 funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Feb 2022 | Undisclosed stage | CS Capital (lead); Trustbridge Partners (lead); CBC Capital; GLP; China Coal Xinji Energy; Chaos Investment | $200M | $2.2B | G7 is a Beijing-based IoT technology startup specializing in fleet management and road freight logistics, using IoT, big data, and AI to integrate cargo owners, transportation capacity, safety management, equipment operation, and energy consumption for safer, more efficient, and lower-cost operations. The company builds a platform forming a new generation of logistics infrastructure amid China's vast road freight market, where fleet managers seek digitalization via enterprise software. Its unique IoT capabilities enable software services tailored to the road freight sector. Founded by CEO Zhai Xuehun, G7 positions itself to meet growing logistics demands and fundamentally change fleet operations. On February 15, 2022, G7 raised $200 million in a Series G funding round led by Trustbridge Partners and CS Capital, with participation from existing investors including CBC Capital, Chaos Investment, GLP, China Coal Xinji Energy, and others. This round, described as equity funding, supports product R&D, customer service improvements, and accelerating industry transformation through innovative technologies. |
| Dec 2018 | Undisclosed stage | HOPU Investment Management Company (lead); Intelligent Fund of Funds; CBC Capital; Tsinghua Holdings Capital; Mount Morning Capital; Tencent; GLP; TotalEnergies Ventures; Bank Of China | $320M | - | G7 is China's leading Internet of Things (IoT) company specializing in fleet management and smart logistics, providing an integrated platform for safety, energy, payments, financing, and intelligent equipment to over 60,000 customers and 800,000 commercial vehicles worldwide, with 85% of China's largest logistics providers as clients. The company completed a record-setting $320 million funding round in October 2018, led by HOPU Investment Management Company, with new investors including China Broadband Capital (CBC Capital), Intelligent Fund of Funds (iFoF), Mount Morning Capital, TotalEnergies Ventures, and Taihecap, alongside participation from existing shareholders GLP, Bank of China Investment, and Tencent. This round marked the largest financing among global IoT startups at the time, bringing G7's total capital raised to approximately $500 million across multiple rounds in just over one year, positioning it as one of the world's most valuable IoT companies. The funds are earmarked for research and development to enhance G7's smart logistics assets service platform, leveraging IoT, big data, and AI to transform fleet operations and build new infrastructure for improved efficiency. G7 has fostered an ecosystem spanning logistics, commercial vehicles, energy, financial services, and emerging technologies through partnerships with strategic investors like GLP, Bank of China, Tencent, and NIO Capital, including a joint venture with GLP and Nio Capital in April 2018 to develop smart trucks. The company's neutral and open platform enables industry-wide technological innovation and transformation. G7's market leadership is affirmed by top-tier venture capital, financial institutions, and industry leaders as shareholders, with the platform expanding from vehicle data collection via sensors and cameras to advanced smart products and asset-as-a-service models. |
| Dec 2017 | Strategic investment | Bank Of China (lead); GLP (lead) | $70M | - | G7 Networks is a Beijing-based IoT technology company founded in 2010, specializing in connected fleet management solutions for the logistics industry. It develops devices that track truck performance data such as speed and temperature, enabling efficient routing and cargo monitoring like ensuring food remains chilled. By December 2017, the technology had been integrated into over 600,000 vehicles. In December 2017, G7 raised $70 million from Global Logistics Properties (GLP) and Bank of China Group Investment, a subsidiary of Bank of China. This strategic investment aimed to support G7's expansion across China, industrial upgrades, and development of financial services, microfinancing, inclusive finance, IoT, and big data products in partnership with Bank of China's Beijing branch. GLP planned to leverage its networks to build a smart logistics ecosystem and improve industry efficiency. Prior to this round, G7 had closed a $45 million series C in April 2016, following a $15 million extension from Tencent, Temasek, and Eastern Bell Venture Capital, with Tencent leading a $30 million first tranche in 2015. Earlier investments included sums from Eastern Bell in 2014 and 2011. Post-2017, G7 continued growth, raising $200 million in a later round led by Trustbridge Partners at a $2.2 billion valuation, with participation from GLP among others, to invest in technology and talent. In 2018, G7 partnered with GLP and Nio Capital to form Inceptio, a joint venture for autonomous driving technology in trucks, backed by Meituan and JD.com. G7's platform helps trucking companies digitize operations via IoT sensors. |
| Feb 2017 | Undisclosed stage | China Development Bank Capital; GLP | $45M | - | - |
| Apr 2016 | Series C | Tencent (lead); Temasek; Eastern Bell Capital | $45M | - | G7 is a Beijing-based fleet management and IoT startup providing a connected platform for trucks, shippers, fleet managers, and drivers, focused on intelligent transportation and logistics infrastructure using AIoT. Headquartered in Zhongguancun Software Park with offices in major Chinese cities, it serves 60,000 customers and 800,000 commercial vehicles worldwide, including 85% of China's largest logistics providers. In April 2016, G7 expanded its Series C funding round to $45 million, following an initial $30 million tranche led by Tencent, aligning with the query's investors including Eastern Bell Capital and Temasek Holdings as strategic backers in its ecosystem. The funds supported platform development in logistics, commercial vehicles, energy, and payments, partnering with entities like NIO Capital for trucking networks. Later rounds, such as the 2018 $320 million raise led by HOPU Investments with Tencent participation, brought total funding to around $500 million, positioning G7 as one of the world's most valuable IoT companies, though specific 2016 valuation undisclosed. |
| Mar 2015 | Series B | Tencent (lead) | $30M | - | G7 is a Beijing-based fleet management company providing a proprietary connected platform for trucks, shippers, fleet managers, and drivers, focusing on IoT solutions for logistics, commercial vehicles, energy, and payments. It partners with companies like NIO for trucking networks and leverages global networks like Total Energy Ventures for renewable energy applications. By 2018, G7 reached 60,000 customers and 800,000 commercial vehicles worldwide, serving 85 percent of China's biggest logistics providers. Later rounds include a $320 million investment in December 2018 led by HOPU Investments, with participation from China Broadband Capital, Intelligent Fund of Funds, Mount Morning Capital, Total Energy Ventures, TH Capital, GLP, Bank of China Investment, and existing investor Tencent, bringing total capital raised to around $500 million. This round targeted technological development and global expansion amid competition to automate China's logistics infrastructure. The company emphasizes AI in IoT for reinventing transportation and logistics, including intelligent equipment and asset-as-a-service models. |
Who has invested in G7?
16 investors have backed G7 across its funding rounds, including GLP, Tencent, CBC Capital, Bank Of China, Temasek and Eastern Bell Capital.
Lead investors include CS Capital, Trustbridge Partners, HOPU Investment Management Company, Bank Of China, GLP and 1 other investor.
G7 Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 4 | Lead | Feb 2017 | ||
| 3 | Lead | Mar 2015 | ||
| 2 | Participant | Dec 2018 | ||
| 2 | Lead | Dec 2017 | ||
| 1 | Participant | Apr 2016 | ||
| 1 | Lead | Feb 2022 | ||
| 1 | Participant | Dec 2018 | ||
| 1 | Participant | Feb 2017 | ||
| 1 | Participant | Dec 2018 | ||
| 1 | Participant | Dec 2018 | ||
| 1 | Lead | Dec 2018 | ||
| 1 | Participant | Dec 2018 | ||
| 1 | Lead | Feb 2022 | ||
This data is available for Pro users. Sign up to see all 16 G7 investors. Start Free Trial | ||||
Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
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Start Free TrialAcquisitions by G7
G7 has acquired 1 company to date.
Last acquisition by G7 was on June 7th 2022. G7 acquired E6 for undisclosed valuation.
Latest Acquisitions by G7
| Description | E6 is a freight and logistics provider operating in China. The Beijing-based company manages transportation networks, warehousing, and supply chain services for domestic and international cargo. |
| HQ Country | |
| HQ City | Shenzhen |
| Deal Date | 7 Jun 2022 |
| Valuation | undisclosed |
| EV/Revenue | |
| EV/EBITDA | |
This data is available for Pro users. Sign up to see all G7 acquisitions and their M&A valuation multiples. Start Free Trial | |
Investments by G7
G7 has invested in 3 companies to date.
Latest investment by G7 was on November 9th 2020. G7 invested in Inceptio Technology in their $120M Undisclosed stage round.
Latest Investments by G7
| Description | Inceptio Technology is a Shanghai-headquartered autonomous trucking company founded in 2018 transforming long-haul freight logistics. The firm operates a nationwide network of Level 4 self-driving heavy-duty trucks powered by AI, new energy systems, and big data analytics. R&D centers in Shanghai and Silicon Valley support deployments serving Chinese logistics firms with safer, more efficient transport-as-a-service. | Inceptio Technology is a Shanghai-headquartered autonomous trucking company founded in 2018 transforming long-haul freight logistics. The firm operates a nationwide network of Level 4 self-driving heavy-duty trucks powered by AI, new energy systems, and big data analytics. R&D centers in Shanghai and Silicon Valley support deployments serving Chinese logistics firms with safer, more efficient transport-as-a-service. | Che Man Man is a full-truckload logistics platform connecting shippers, carriers, and drivers in China's freight ecosystem. Beijing-headquartered, the company operates PC, mobile, and IoT terminals for real-time cargo matching, tracking, and payments, handling millions of tons annually. Launched in 2014, it serves e-commerce and manufacturing sectors with digitized dispatch and settlement services. | - |
| HQ Country | ||||
| HQ City | Shanghai | Shanghai | Chaoyang | - |
| Deal Date | 9 Nov 2020 | 27 Apr 2020 | 9 Jul 2019 | 14 Jul 2017 |
| Round | Undisclosed stage | Series A | Series A | Angel |
| Raised | $120M | $100M | $10M | $3M |
| Investors | CATL; NIO Capital | GLP | Transfar Capital; Ameba Capital | Frees Fund; Shenzhen Qianhai Longteng Investment Asset Management; Eastern Bell Capital |
| Valuation | undisclosed | undisclosed | undisclosed | undisclosed |
| EV/Revenue | ||||
| EV/EBITDA | ||||
This data is available for Pro users. Sign up to see all G7 investments and their VC round multiples. Start Free Trial | ||||
G7 Competitors
G7 competitors include listed companies like Wuxi Boton Technology, EquipmentShare.com, NextNav and Vusion, and private ones like UISEE and TuSimple.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Publicly listed | $516M | $55M | $1.3B | - | ||
| Publicly listed | $4.4B | $704M | $4.6B | 1.8x | ||
| Publicly listed | $5M | ($169M) | $2.5B | 540.7x | ||
| Private | - | - | $1.1B | - | ||
| Private | - | - | $1B | - | ||
| Publicly listed | $1.7B | $313M | $2.2B | 0.9x |
G7 Public Comps
G7 is still privately-owned, but its public comps include Spark New Zealand, Vusion, Karooooo, TKH Group, GigaCloud Technology, NextNav, Fibocom Wireless, Transfar Zhilian Co, Hanshow Technology and Shenzhen Topband Co..
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $2.1B | $672M | 1.5x | 1.5x | 4.8x | 5.3x | |||
| $1.7B | $313M | 1.0x | 0.9x | 5.6x | 4.8x | |||
| $337M | $148M | 6.3x | 5.7x | 14.3x | 13.8x | |||
| $2B | $300M | 1.5x | 1.4x | 10.4x | 9.7x | |||
| $1.3B | $158M | 1.6x | 1.4x | 12.8x | 10.6x | |||
| $5M | ($169M) | 503.2x | 540.7x | (13.6x) | (48.0x) | |||
| $1B | $75M | 2.3x | 2.2x | 32.0x | 34.1x | |||
| $3.7B | $258M | 1.0x | 1.3x | 14.0x | 12.5x | |||
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Common questions about G7
| When was G7 founded? | G7 was founded in 2010. |
| Where is G7 headquartered? | G7 is headquartered in Beijing, China. |
| Is G7 publicly listed? | No, G7 is a private, VC-backed company. |
| What is G7's valuation? | G7 was last valued at $2.2B in its undisclosed-stage round in February 2022. |
| How much funding has G7 raised? | G7 has raised $710M across 6 funding rounds. |
| What was G7's last funding round? | G7's last funding round was a $200M undisclosed-stage round in February 2022, led by CS Capital and Trustbridge Partners. |
| Who are G7's investors? | G7's investors include GLP, Tencent, CBC Capital, Bank Of China, Temasek, Trustbridge Partners, Intelligent Fund of Funds, China Development Bank Capital, Tsinghua Holdings Capital, Mount Morning Capital and 6 others. |
| Which companies are comparable to G7? | Companies comparable to G7 include Wuxi Boton Technology, EquipmentShare.com, NextNav, UISEE, TuSimple and Vusion. |
| How many companies has G7 acquired? | G7 has acquired 1 company, including E6. |
| How many companies has G7 invested in? | G7 has invested in 3 companies, including Inceptio Technology, Che Man Man and Hand Hitech. |
| What was G7's last investment? | In November 2020, G7 invested in Inceptio Technology's $120M undisclosed-stage round alongside CATL and NIO Capital. |
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