Fr8Tech signs two-year TMS contract with logistics provider Salzillo

HOUSTON - Freight Technologies, Inc. (Nasdaq:FRGT), a logistics technology company currently trading at $1.71 per share with a market capitalization of approximately $16 million, announced Monday that it has signed a two-year contract with Fletes y Distribuciones Conver S.A.P.I. de C.V. (Salzillo) to license its Fleet Rocket Transportation Management System.

The agreement will support Salzillo’s logistics operations across Mexico, the United States, and Canada. Salzillo will use the TMS to streamline processes, increase shipment visibility, and strengthen control over cross-border movements. According to InvestingPro data, analysts anticipate sales growth for Fr8Tech in the current year, despite recent market challenges.

"We are excited to support Salzillo in their digital transformation journey," said Javier Selgas, CEO of Fr8Tech. "Fleet Rocket is the ideal platform for companies looking to strengthen their logistics capabilities across North America."

Founded in 2007 and based in León, Guanajuato, Salzillo specializes in full truckload freight transportation with routes spanning major industrial corridors in Mexico including Mexico City, Toluca, Monterrey, Guadalajara, and Tijuana. The company brings over 30 years of transportation industry experience and is a member of both CANACAR and CANACINTRA.

Fleet Rocket is described as a scalable and cost-effective TMS designed for brokers, shippers, and other logistics operators, built to simplify the management of domestic and international logistics.

The adoption comes as more logistics providers turn to digital solutions to enhance their competitive position, according to the company’s press release statement.

Fr8Tech offers several supply chain technology solutions including the Fr8App platform for cross-border shipping, Fr8Now for less-than-truckload shipping, Fr8Fleet for enterprise clients, and Waavely for ocean freight management. InvestingPro analysis suggests the stock is currently undervalued, with 12 additional exclusive insights available to subscribers. Get full access to detailed financial metrics and expert analysis with an InvestingPro subscription.

In other recent news, Freight Technologies, Inc. has announced that it has regained compliance with the Nasdaq Capital Market’s minimum stockholders’ equity requirement. This development follows the company’s amendment of its share conversion terms to address a previous deficiency notice regarding Nasdaq’s Listing Rule 5550(b)(1). Freight Technologies reported total shareholders’ equity of $6,159,098 as of March 31, 2025, after the sale and issuance of $8.2 million in Series A4 preferred shares. Additionally, the company has implemented a one-for-four reverse stock split of its ordinary shares, which will take effect on May 27, 2025. This move will consolidate every four pre-split shares into one new share, reducing the number of outstanding shares from approximately 9.1 million to about 2.2 million. In a separate development, Freight Technologies has added Reckitt Benckiser de México to its client roster, highlighting its expanding customer base in North America. Furthermore, the company has deployed AI-powered voice agents using Fetch.ai’s platform for logistics data collection, showcasing its commitment to technological advancements. These recent developments indicate significant strides in Freight Technologies’ operational and compliance strategies.

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