24/7 Market News- SemiCab Signs New Pilot Contract with Indian Consumer Packaged Goods Company

October 9, 2024

DENVER, Colo., Oct 09, 2024 (247marketnews.com)- Algorhythm Holdings (NASDAQ: RIME) stated that it is entering a new master service agreement with a “leading Mumbai-based multinational consumer goods company specializing in health, beauty, wellness, and healthy packaged foods.”

The agreement calls for SemiCab Holdings, Algorhythm’s subsidiary, to provide enterprise-level shipping services through its AI-powered software platform, starting this month, and will cover several major metropolitan markets across India.

Gary Atkinson, Algorhythm’s CEO, commented, “This marks our first major client win in India since acquiring SemiCab in Q3 2024. Our new partner is a leading consumer goods company serving markets across India, Southeast Asia, the Middle East, and parts of Africa. We are excited to launch this pilot in India and look forward to scaling the relationship as we deliver on our service commitments in the coming quarters.

“Equally important, this major contract demonstrates that the SemiCab model is not confined to the U.S. market and is equally effective in addressing the inefficiencies in truckload transportation internationally. This is also our first significant client acquisition outside of the National Digital Freight Exchange (NDFE) network in India, where SemiCab has exclusively operated until now. This pilot contract clearly illustrates our ability to expand our addressable market, optimize our existing freight capacity, and accelerate growth within the Indian market.”

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