G7 raises $200m for providing software for Chinese road freight industry

G7, a software service provider for the Chinese road freight industry, has raised $200 million in a new funding round led by Shanghai-based private equity firm Trustbridge Partners and CS Capital, a US-based investment company.

According to G7, its early investors also took part in the funding round.

The Chinese software company caters to freight managers with Internet of Things (IoT) powered subscription solutions and transaction solutions.

G7 plans to use the proceeds from the funding round primarily for undertaking product research and development as well as for enhancing customer services.

The software solutions provider for road freight stated: “China has the world’s largest road freight market and freight managers in China have strong demand for digitalizing their business through adoption of enterprise software services. G7 has unique IoT capabilities which are fundamental for providing software services to the road freight industry.

“In the past three years, G7 successfully expanded its services from Subscription Solutions to Transaction Solutions, while its revenue continues to grow driven by strong up-selling and cross-selling.”