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The information in this article is based on a press release statement from Freight Technologies, Inc. Readers should be aware that the press release includes forward-looking statements that involve risks and uncertainties, and actual results may differ from those projected. With the company’s next earnings report due on May 16, 2025, investors can access comprehensive financial analysis and real-time updates through InvestingPro. With the company’s next earnings report due on May 16, 2025, investors can access comprehensive financial analysis and real-time updates through InvestingPro.
The collaboration between Fr8Tech and Bayer leverages Electronic Data Interchange (EDI) technology to automate data exchanges, eliminating manual processes and ensuring faster, more accurate communication. This direct integration is expected to optimize resource allocation and enhance overall supply chain efficiency. Javier Selgas, CEO of Fr8Tech, highlighted the flexibility of Fr8Tech’s platform solutions in facilitating this seamless integration.
Fr8Tech is a technology company offering AI and machine learning-powered proprietary platform solutions designed to optimize and automate the supply chain process. Its diverse portfolio includes the Fr8App platform for over-the-road (OTR) B2B cross-border shipping, as well as other specialized services for various shipping and logistics needs. The company, headquartered in Houston, Texas, focuses on addressing challenges within the supply chain ecosystem. InvestingPro analysis indicates the company is currently undervalued, though investors should note its challenging financial health score of 1.14, labeled as ’WEAK’ by InvestingPro analysts.
This integration marks a significant step for Fr8Tech in strengthening its position as a trusted provider of logistics solutions. It is part of the company’s ongoing efforts to improve matching and operational efficiency for carriers and shippers through innovative technologies, including live pricing, real-time tracking, and digital freight marketplace. While analysts anticipate sales growth in the current year, InvestingPro reveals 17 additional key insights about Fr8Tech’s financial position and market performance, available exclusively to subscribers.
The information in this article is based on a press release statement from Freight Technologies, Inc. Readers should be aware that the press release includes forward-looking statements that involve risks and uncertainties, and actual results may differ from those projected.
In other recent news, Freight Technologies, Inc., known as Fr8Tech, has announced significant developments across various areas of its operations. The company believes it has regained compliance with Nasdaq’s minimum stockholders’ equity requirement after selling preferred shares, raising approximately $8.17 million in total. This financial maneuver is awaiting formal confirmation from Nasdaq. In a strategic move, Fr8Tech acquired $5.2 million in FET Tokens from Fetch Compute, Inc., aligning with its aim to enhance logistics offerings with decentralized AI technology. Additionally, Fr8Tech has appointed two new independent directors, Leilei Nie and Andres Gonzalez, to its board, bringing extensive experience in financial services and real estate investment.
Fr8Tech has also introduced Fleet Rocket, a Transportation Management System designed to streamline logistics operations, offering features like real-time tracking and seamless cross-border logistics. In line with its technological advancement strategy, the company has reduced its workforce by 20% to focus on enhancing operational efficiencies. CEO Javier Selgas emphasized that these changes are part of Fr8Tech’s evolution into a leading technology company. Financially, the company completed a $3 million private placement offering to support ongoing software development and aims for profitability by the end of 2025. These developments reflect Fr8Tech’s commitment to innovation and strategic growth in the logistics sector.
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