Welcome to our dedicated page for Freight Tech news (Ticker: FRGT), a resource for investors and traders seeking the latest updates and insights on Freight Tech stock.
Freight Technologies, Inc. provides AI-enabled logistics technology for shippers, carriers, freight agencies, brokers, and cross-border trade operators. Company news centers on its software portfolio, including Fr8App, Fleet Rocket, Zayren and Zayren Pro, Fr8Radar, and DODA Smart, with recurring updates on transportation management, carrier matching, predictive freight pricing, real-time geolocation, and customs document compliance across the U.S.–Mexico freight corridor.
Additional developments cover the company's agentic AI framework, product licensing agreements, SaaS commercialization, and corporate actions. News also includes completed acquisition-related financial information for JAK Solar and updates on capital structure and strategic priorities as Freight Technologies emphasizes software-driven logistics operations.
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.
Freight Technologies (NASDAQ: FRGT) has announced a change in its independent registered public accounting and auditing firm from Marcum LLP to TAAD LLP, effective January 6, 2025. The transition occurred following Marcum's resignation at the company's request on January 7, 2025. The change was recommended and approved by the Audit Committee of the board of directors.
The company reported no disagreements with Marcum on accounting principles, practices, financial statement disclosure, or auditing procedures during the fiscal year ended December 31, 2024, and through January 7, 2025. Additionally, there were no reportable events during this period.
Freight Technologies (FRGT) has secured a new logistics services contract with a major global toy industry brand. The company's Fr8App platform has been providing over-the-road (OTR) logistics services across key shipment lanes in Mexico, particularly during peak seasonal periods.
The new contract ensures continued secure and timely transport of the client's products throughout the Mexican market, building on Fr8App's track record of reliable, cost-effective, and high-quality service. CEO Javier Selgas highlighted this partnership as a validation of Fr8App's platform innovation and logistics support capabilities in the global marketplace.