G7 Raises $45m in Strategic Investment
BEIJING, Feb. 23, 2017 -- G7 raises US$45 million in a strategic investment from CDB Capital Co., Ltd., which serves as the investment arm of the China Development Bank (“CDB”), and Global Logistic Properties (“GLP”), the leading provider of logistic facilities. The funds will secure G7’s position as the leading logistics data sharing platform, as well as help G7 in complementary industries.
Stated G7 Co-Founder and CEO, Zhai Xuehun, “Data will bind every aspect of the logistics industry. Sharing logistics data across the ecological chain will improve the overall efficiency of the industry while fostering new innovations. Both CDB Capital and GLP are strong promoters for the development of China's logistics industry. Their funds and industry resources will help G7 leverage its technical advantage to create greater values for customers and partners while improving China's logistics industry as a whole.”
About China Development Bank
CDB is a leading policy financial institution in China, providing mid to long-term financing for businesses that serve China’s long-term economic and social development strategies. As of December 2016, its assets are valued at over RMB 14 trillion. CDB participates in the development of China’s logistics industry planning and policy, providing key credit support to logistics and supply chain businesses. CDB Capital Co., Ltd., a subsidiary of CDB, is responsible for over RMB 150 billion of CDB’s portfolio. With equity stakes in businesses such as SF Express, Deppon Logistics, and Best Logistics, CDB Capital Co., Ltd. has a strong foothold in the logistics industry.
About Global Logistic Properties
GLP is the leading provider of modern logistics facilities. Its properties span 117 cities in countries such as China, Japan, Brazil and the United States. GLP’s portfolio is valued at US$38 billion, and comprised of 53.7 million square meters of basic logistics facilities. This extensive logistics network serves more than 4,000 clients. With a platform that extends the supply chain both upstream and downstream, GLP uses its network advantage and industry resources to provide value-added services to its clients and eco-partners.
G7 is the leading technology service provider for China’s logistics industry. By connecting vehicles, shippers, fleet owners and drivers, G7 provides real-time logistics data service to more than 30,000 enterprises and 300,000 logistics vehicles. G7 Smart, a proprietary hardware device for trucks, collects real-time data including vehicle location, routes plan, fuel consumption, driver behavior, cargo temperature and cargo handling. With leading products and quality service, G7 helps small and large fleet owners get connected and set data benchmarks for their vehicles and drivers. In addition, G7 facilitates services for shipper and fleets through partnerships with gas stations, toll roads, insurance companies, and financial leasing companies. G7 aspires to build a one-stop integrated service platform covering all aspects of today’s modern fleets.