China based G7 Raises $320 million from HOPU Investments
Beijing-based fleet management company G7 has raised funds amounting to $320 million in a financing round. This round was led by HOPU Investments, one of the mosthigh-profile private equity firms in China.
With this funding,the total capital raised by the company has reached to around $500 million.Other participants included new investors ChinaBroadband Capital, Intelligent Fund of Funds, Mount Morning Capital, Total Energy Ventures and TH Capital, who are joined by existing investorsGLP, Bank of China Investment and Tencent.
The basic purposeof this funding round is to drive technological development. The companyruns a proprietary connected platform for trucks, shippers, fleet manager anddrivers. G7 claims that its latest funding round marks the...