G7 raises a record $320 million

Fleet management service provider G7 has finished a new round of fundraising with a record $320 million from multiple investors.

The round was led by Hopu Fund along with China Broadband Capital, Mountain Morning Capital, Intelligent Fund of Funds, Total Energy Ventures, the venture capital arm of oil company Total, and TH Capital. Existing investors GLP, Bank of China Group Investment and Tencent also participated.

Beijing-based G7 claims that this round marks the highest among Internet of Things IoT startups in the world. The company has raised a significant pile over the past three years. It completed its Series C fundraising of...