Freight Tech Stock Price, News & Analysis

Freight Technologies (NASDAQ: FRGT) has launched an AI Lab focused on revolutionizing cross-border freight operations between the US and Mexico. The company has signed a memorandum of understanding (MOU) with the University of Monterrey to establish a strategic collaboration with their AI Program.

The AI Lab will serve as an innovation hub leveraging extensive real-world logistics data from thousands of shipments, lanes, and cross-border trade patterns. The initiative aims to develop cognitive AI solutions that can be customized for specific customer needs and optimize freight operations.

Key objectives include:

• Developing AI-powered logistics products with real-world applications
• Enhancing decision-making and automation through cognitive architectures
• Advancing AI research through academia-industry collaboration
• Building a network of leading technologists

Freight Technologies (NASDAQ: FRGT) has entered into a Securities Purchase Agreement to acquire $5.2 million of FET Tokens from Fetch Compute, in exchange for 2,311,248 Series A4 preferred shares. The FET Tokens power Fetch.ai, a decentralized machine learning platform aligned with Fr8Tech's vision for AI solutions in the Over-the-Road carrier and logistics markets.

This strategic move follows the company's recent launch of their AI Tendering Bot, designed to automate load tendering for shippers and freight brokers. The acquisition aims to strengthen Fr8Tech's balance sheet while enabling participation in Fetch.ai's decentralized AI ecosystem. The company plans to leverage this technology to provide clients with enhanced supply chain transparency and capabilities within the decentralized economy.

Freight Technologies (NASDAQ: FRGT) has launched an AI Tendering Bot to automate and streamline load tendering processes for shippers and freight brokers. This innovation marks the company's strategic shift towards a Software-as-a-Service (SaaS) model.

The AI bot can interpret emails, text messages, and Excel spreadsheets containing load information, automatically posting structured data into the Fr8app marketplace for carrier bidding. Successfully pilot-tested with several clients, the system is now fully integrated with Fleet Rocket, Fr8Tech's TMS solution.

Key benefits include:

• Enhanced efficiency through automated data entry
• Reduced operating costs by minimizing human intervention
• Improved accuracy via AI algorithms
• Real-time visibility in the Fr8app marketplace

The technology was developed in partnership with Trebu.ai, a Y Combinator-backed startup specializing in AI automation.

Freight Technologies (FRGT) has announced changes to its Board of Directors effective February 14, 2025. The company appointed two new independent directors: Leilei Nie, a strategy and business project management professional with 17+ years in financial services and fintech, and Andres Gonzalez, current CEO of Futura Reserva with extensive experience in real estate development and investment management.

These appointments follow the resignations of Paul Freudenthaler and William Samuels, with Freudenthaler continuing to serve as Board secretary. The resignations were not due to any disputes with the company or Board. CEO Javier Selgas expressed confidence that the new directors will bring valuable expertise and perspectives to Fr8Tech's growth initiatives.

Freight Technologies (NASDAQ: FRGT) has launched Fleet Rocket, a new Transportation Management System (TMS) designed for brokers, shippers, and logistics operators across the USMCA region. The platform focuses on cross-border logistics and nearshoring operations, offering tools for Mexico freight optimization, customs documentation, and shipment visibility.

Fleet Rocket features include domestic freight management, ocean freight capabilities, API-driven integrations with third-party platforms, and ERP compatibility. The system provides advanced reporting and analytics for data-driven decision making, with solutions scaled for both small businesses and enterprises. The platform promises minimal implementation time, being fully operational within days, and includes 24/7 support services.

Freight Technologies (FRGT) announced strategic updates focusing on technological innovation and cost reduction. The company is set to launch its Transportation Management System (TMS) in February 2025, which will serve as a digital command center for logistics teams, enabling real-time shipment tracking, carrier selection, and route management.

As part of its transformation, FRGT has implemented a 20% workforce reduction to streamline operations and reduce costs. The company aims to achieve profitability on an adjusted EBITDA basis by the end of 2025. Recent developments include a $3 million private placement of convertible preferred stock and renewal of a multi-year logistics services agreement with Kimberly-Clark de México.

Freight Technologies (FRGT) has announced a private placement offering of $3.0 million through the sale of 1,540,832 Series A4 preferred shares to accredited investors. The company secured net proceeds of approximately $2.9 million after deducting fees and expenses.

The preferred shares are immediately convertible to ordinary shares at the holder's option, with the conversion price being the greater of the lowest 7-day VWAP or the Series A4 Conversion Price Floor. The company must file a registration statement with the SEC by March 30, 2025 for the ordinary shares issuable upon conversion.

The funds will be used for working capital and corporate purposes, including strategic growth initiatives and balance sheet enhancement.

Freight Technologies (FRGT) has renewed its logistics services contract with Kimberly-Clark de México for an additional two years. The agreement, which began in 2022, covers transportation of products throughout Mexico and has shown significant year-over-year growth in over-the-road (OTR) load capacity.

The company manages three key services for Kimberly-Clark: dedicated capacity under Fr8Fleet, OTR spot for domestic shipments in Mexico, and OTR spot for US-MX cross border shipments under Fr8App. The renewal demonstrates confidence in Fr8Tech's logistics solutions and their ability to make supply chains more efficient.

Freight Technologies (FRGT) has announced its unaudited financial results for the six-month period ending June 30, 2024. The logistics management innovation company, which provides technology-driven solutions for supply chain ecosystem challenges, has made its earnings release available through a Form 8-K filing and on their investor relations website at fr8technologies.com/investors.