Algorhythm Holdings Announces MTR Foods Joins SemiCab Platform

Rhea-AI Summary

Algorhythm Holdings (NASDAQ: RIME) announced that MTR Foods has joined its SemiCab AI-powered freight optimization platform, marking the fourth new customer onboarded or expanded this year. MTR Foods is part of Orkla Group, which reported $7.3 billion in annual sales in 2025. SemiCab aims to reduce empty miles, improve load matching, and scale logistics without adding headcount.

This partnership targets cost savings, better asset utilization, and sustainability benefits across MTR Foods' distribution network.

Positive

• MTR Foods joins SemiCab, expanding client roster
• Fourth new customer onboarded or expanded this year
• Orkla Group parent reported $7.3 billion in 2025 sales

Negative

• None.

News Market Reaction – RIME

-6.35%

15 alerts

-6.35% News Effect

+13.4% Peak Tracked

-4.4% Trough Tracked

-$792K Valuation Impact

$12M Market Cap

0.1x Rel. Volume

On the day this news was published, RIME declined 6.35%, reflecting a notable negative market reaction. Argus tracked a peak move of +13.4% during that session. Argus tracked a trough of -4.4% from its starting point during tracking. Our momentum scanner triggered 15 alerts that day, indicating notable trading interest and price volatility. This price movement removed approximately $792K from the company's valuation, bringing the market cap to $12M at that time.

Data tracked by StockTitan Argus on the day of publication.

Key Figures

Orkla Group annual sales: $7.3 billion Countries of operation: Over 100 countries New SemiCab customers 2026: 4 customers

3 metrics

Orkla Group annual sales $7.3 billion Parent company MTR Foods, 2025 sales

Countries of operation Over 100 countries Orkla Group global footprint

New SemiCab customers 2026 4 customers MTR Foods is the fourth new or expanded customer this year

Market Reality Check

Price: $1.77 Vol: Volume 1,639,198 is well ...

low vol

$1.77 Last Close

Volume Volume 1,639,198 is well below the 20-day average of 20,149,226, limiting confirmation of the move. low

Technical Shares at $1.89 are trading below the 200-day MA of $2.03 and 58.73% under the 52-week high.

Peers on Argus

Peer moves were mixed: MSN up 8.33% and AXIL down 4.94%, while other peers were ...

1 Up 1 Down

Peer moves were mixed: MSN up 8.33% and AXIL down 4.94%, while other peers were flat or modestly changed, pointing to a stock-specific reaction for RIME rather than a sector-wide move.

Historical Context

5 past events · Latest: Feb 24 (Positive)

Pattern 5 events

Date	Event	Sentiment	Move	Catalyst
Feb 24	Customer pilot win	Positive	+18.5%	SemiCab awarded pilot with Coca-Cola India to test platform efficiency.
Feb 23	Financing and liquidity	Positive	-12.8%	Raised $9.5M under facility and highlighted cash to fund 2026 plan.
Feb 17	Platform vision update	Positive	-25.9%	Unveiled SemiCab Vision for AI-driven freight network and efficiency gains.
Feb 12	AI scalability claims	Positive	+29.9%	Claimed 300–400% freight volume scaling without added staff using AI.
Feb 09	Efficiency whitepaper	Positive	-0.5%	Whitepaper showed >70% empty-mile reduction and >90% utilization.

Pattern Detected

Recent positive SemiCab and financing news has produced volatile, often mixed price reactions, with both strong rallies and sharp selloffs following upbeat announcements.

Recent Company History

Over the past month, Algorhythm has steadily highlighted progress around its SemiCab AI logistics platform and balance sheet. On Feb 9, it reported a >70% reduction in empty miles, followed by AI scalability claims on Feb 12 and a broader “SemiCab Vision” on Feb 17. Capital was bolstered with a $9.5 million infusion disclosed on Feb 23, and SemiCab then secured a pilot with Coca-Cola India on Feb 24. Today’s MTR Foods win extends this series of customer and deployment milestones.

Market Pulse Summary

The stock moved -6.3% in the session following this news. A negative reaction despite a new enterpri...

Analysis

The stock moved -6.3% in the session following this news. A negative reaction despite a new enterprise customer would fit a pattern where upbeat SemiCab news sometimes met selling, as seen after earlier AI and vision disclosures. Past filings highlighted substantial losses, going-concern language, and dependence on higher-cost financing, which can overshadow commercial wins. A drop of more than 5% could reflect focus on balance-sheet and dilution risks rather than single-customer additions, especially given the company’s small market cap.

Key Terms

ai-powered, collaborative transportation platform, cloud-based, artificial intelligence, +3 more

7 terms

ai-powered technical

"Leveraging SemiCab's AI-Powered Freight Network Fort Lauderdale..."

"AI-powered" describes technology that uses artificial intelligence to perform tasks, make decisions, or analyze information automatically. It’s similar to having a highly skilled assistant that can learn from data, recognize patterns, and improve over time, helping to make processes faster and more accurate. For investors, this means better insights and more efficient operations, potentially leading to smarter investment choices.

collaborative transportation platform technical

"SemiCab’s Collaborative Transportation Platform will enable MTR Foods..."

A collaborative transportation platform is a digital service that helps multiple companies or individuals share, schedule and optimize vehicles, routes and cargo in real time — think of it as a shared calendar and map for moving people or goods. Investors care because these platforms can cut costs, boost vehicle use, open new customers and create recurring fees; like a matchmaker that turns idle trucks or seats into steady revenue, they can scale quickly and change margins in transport industries.

cloud-based technical

"SemiCab’s cloud-based Collaborative Transportation Platform uses artificial..."

Software, data or services that run on remote computers accessed over the internet instead of on a user’s own device; think of renting storage, apps and computing power in someone else’s warehouse rather than buying and maintaining the gear yourself. Investors care because cloud-based models can lower a company’s upfront costs, speed product updates, scale quickly with demand and create recurring revenue, all of which affect cash flow, growth prospects and valuation.

artificial intelligence technical

"Platform uses artificial intelligence and machine learning to orchestrate..."

Artificial intelligence is the ability of computers and machines to perform tasks that typically require human thinking, such as understanding language, recognizing patterns, or making decisions. For investors, it matters because AI can enhance efficiency, uncover new insights, and enable smarter strategies, potentially impacting the value and performance of companies that develop or utilize this technology.

machine learning technical

"Platform uses artificial intelligence and machine learning to orchestrate..."

Machine learning is a set of computer programs that learn patterns from large amounts of data and improve their predictions or decisions over time, like a recipe that gets better each time it’s adjusted based on taste tests. For investors it matters because these systems can speed up analysis, spot trends or risks humans might miss, automate routine work, and potentially create competitive advantages or cost savings that affect a company’s performance.

empty backhaul miles technical

"far fewer empty backhaul miles, yielding significant cost savings..."

Empty backhaul miles are the distance a truck, ship, or plane travels after delivering goods while carrying little or no freight on the return leg. Like driving home after dropping off a package with no return cargo, these empty miles are essentially lost revenue and extra cost for the carrier. Investors watch this metric because high empty backhaul miles reduce utilization, raise fuel and labor costs, and squeeze profit margins and cash flow.

fmcg technical

"highly attractive to large FMCG companies looking to boost efficiency..."

FMCG, or fast-moving consumer goods, are everyday products that are sold quickly and at relatively low cost, such as food, drinks, toiletries, and household items. They matter to investors because these products are in constant demand, providing stable sales and cash flow for companies, even during economic ups and downs. Their high turnover makes them a key segment in the consumer market, reflecting broad consumer spending habits.

AI-generated analysis. Not financial advice.

Indian Packaged Foods Leader Joins Growing Roster of Enterprise Clients Leveraging SemiCab's AI-Powered Freight Network

Fort Lauderdale, FL, March 05, 2026 (GLOBE NEWSWIRE) -- Algorhythm Holdings, Inc. (“Algorhythm”) (NASDAQ: RIME) – a leading AI technology company, today announced that MTR Foods Pvt. Ltd. (“MTR Foods”), one of India’s most recognized packaged foods companies, has joined its SemiCab freight optimization platform. MTR Foods is the fourth new customer onboarded or expanded with SemiCab this year as the platform continues to gain momentum.

Headquartered in Bengaluru and a subsidiary of Norwegian conglomerate Orkla Group, MTR Foods manufactures a wide range of ready-to-eat meals, breakfast mixes, spices, snacks, and beverages that are distributed across India and international markets. MTR Foods parent company, Orkla Group is a global powerhouse in the food and consumer packaged goods industry, with over $7.3 billion in annual sales in 2025, and operations in over 100 countries worldwide.

By joining the SemiCab platform, MTR Foods will gain access to SemiCab’s AI-powered freight orchestration network designed to reduce empty miles, improve load matching, and optimize transportation efficiency across its distribution network. SemiCab’s Collaborative Transportation Platform will enable MTR Foods to scale its logistics operations with greater agility and intelligence—without increasing headcount or infrastructure.

“We are thrilled to welcome MTR Foods to the SemiCab platform,” said Gary Atkinson, CEO of Algorhythm Holdings. “Their products reach millions of homes across India, and their commitment to operational excellence makes them an ideal partner. By using SemiCab, MTR Foods can reduce transportation waste, cut costs, and strengthen the resilience of its supply chain.”

SemiCab’s cloud-based Collaborative Transportation Platform uses artificial intelligence and machine learning to orchestrate freight logistics collaboratively across shippers and carriers. By enabling fully loaded round trips and dynamic route optimization, the platform helps shippers pay less and carriers earn more without disrupting existing workflows. This translates to dramatically improved asset utilization and far fewer empty backhaul miles, yielding significant cost savings and sustainability benefits – a value proposition that has proven highly attractive to large FMCG companies looking to boost efficiency and eliminate waste in their logistics operations.

About Algorhythm Holdings

Algorhythm Holdings, Inc. is a leading AI technology company focused on the growth and development of SemiCab, an emerging leader in the global logistics and distribution industry. Since 2020, SemiCab has enabled major retailers, brands and transportation providers to address common supply-chain problems globally. Its AI-enabled, cloud-based Collaborative Transportation Platform achieves the scalability required to predict and optimize millions of loads and hundreds of thousands of trucks. SemiCab uses real-time data from API-based load tendering and pre-built integrations with TMS and ELD partners to orchestrate collaboration across manufacturers, retailers, distributors, and their carriers. SemiCab uses AI/ML predictions and advanced predictive optimization models to enable fully loaded round trips. With SemiCab’s AI platform, shippers pay less and carriers make more without having to change a thing. For additional information, please go to: http://www.semicab.com

Investor Relations Contact
Brendan Hopkins
407-645-5295
investors@algoholdings.com
www.algoholdings.com

Media Contact
FischTank PR
Algorhythm@fischtankpr.com

Forward Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Any statement that is not historical in nature is a forward-looking statement and may be identified by the use of words and phrases such as "expects," "anticipates," "believes," "will," "will likely result," "will continue," "plans to," "potential," "promising," and similar expressions. These statements are based on management's current expectations and beliefs and are subject to a number of risks, uncertainties and assumptions that could cause actual results to differ materially from those described in the forward-looking statements, including the risk factors described from time to time in Algorhythm’s reports to the SEC, including, without limitation Algorhythm’s Annual Report on Form 10-K for the year ended December 31, 2024. You should not place undue reliance on any forward-looking statement, each of which applies only as of the date of this press release. Except as required by law, we undertake no obligation to update or revise publicly any of the forward-looking statements after the date of this press release to conform our statements to actual results or changed expectations, or as a result of new information, future events or otherwise.

FAQ

What did Algorhythm (RIME) announce about MTR Foods on March 5, 2026?

Algorhythm announced that MTR Foods joined the SemiCab platform to optimize freight operations. According to the company, MTR Foods will use SemiCab's AI to reduce empty miles, improve load matching, and scale logistics without increasing headcount or infrastructure.

How will MTR Foods benefit from SemiCab according to Algorhythm?

MTR Foods will gain AI-driven freight orchestration aimed at reducing empty miles and costs. According to the company, the platform improves load matching and enables fully loaded round trips to boost asset utilization and sustainability.

Does the announcement state how many new SemiCab customers Algorhythm added in 2026?

The company said MTR Foods is the fourth new customer onboarded or expanded with SemiCab this year. According to Algorhythm, this reflects growing momentum for its collaborative transportation platform.

What relevance does Orkla Group's $7.3 billion 2025 sales figure have to the RIME news?

Orkla Group's $7.3 billion 2025 sales signal the scale of MTR Foods' parent organization. According to Algorhythm, partnering with a subsidiary of a large consumer goods group underscores SemiCab's appeal to major FMCG players.

Will the MTR Foods integration require increased headcount or infrastructure for RIME customers?

According to the company, MTR Foods can scale logistics with SemiCab without increasing headcount or infrastructure. The platform is cloud-based and designed to integrate with existing workflows while optimizing routes and load matching.