Global Logistics Providers and Bank of China have supplied $70m in cash to G7 Networks, which has developed connected fleet management technology.
China-based internet of things (IoT) technology producer G7 Networks has raised $70m in funding from investors including logistics service provider Global Logistics Providers (GLP), China Money Network reported today.
The round also included Bank of China Group Investment, a subsidiary of financial services firm Bank of China.
Founded in 2010, G7 Networks has developed an IoT device that tracks the performance of each truck within a fleet, collecting data such as speed and temperature.
The technology makes it possible, for example,…
