Freight Technologies Integrates Fr8App with Tecnomotum’s Platform to Enhance Fleet Connectivity and Efficiency
Rhea-AI Summary
Freight Technologies (Nasdaq: FRGT) has announced the integration of its Fr8App platform with Tecnomotum, a leading data transmission company for haulage in Mexico. This integration aims to enhance fleet connectivity and efficiency for cross-border shipping within the USMCA region. The collaboration will provide Fr8App users with access to real-time data, including current position, position history, messages, and operational status.
This integration builds upon Fr8App's earlier expansion of Fr8Radar, which unifies various GPS providers into a single control center. By partnering with industry leaders like Tecnomotum, Fr8App continues to streamline logistics operations and solidify its position as a highly connected and integrable platform for cross-border shipping in the USMCA region.
Positive
- Integration with Tecnomotum enhances Fr8App's fleet connectivity and efficiency
- Expansion of Fr8Radar module unifies multiple GPS providers into a single control center
- Improved user experience with access to real-time data and additional functionalities
- Strengthened position as a leading integrable platform for cross-border shipping in the USMCA region
Negative
- None.
News Market Reaction
On the day this news was published, FRGT gained 2.67%, reflecting a moderate positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
HOUSTON, Aug. 06, 2024 (GLOBE NEWSWIRE) -- Freight Technologies, Inc. (Nasdaq: FRGT) (“Fr8Tech''), a technology company whose custom-developed Fr8App, an industry-leading freight-matching platform powered by AI and machine-learning that provides a real-time portal for B2B cross-border shipping and domestic shipping within the USMCA region, announces its integration with Tecnomotum, one of the largest data transmission companies for haulage in Mexico. Tecnomotum provides customers with technology and information to increase security, reduce accident risks and optimize its comprehensive ecosystem for fleet connectivity and logistics transactions. This integration aims to maximize savings, enhance user experience, provide real-time data and streamline logistics operations.
Fr8App continues to be at the forefront of leveraging technology to simplify logistics and supply chain management. By focusing on user experience and real-time data, Fr8App has eliminated pain points for businesses as they manage their logistics operations and optimize their supply chains.
Understanding the necessity for comprehensive and reliable fleet connectivity, Fr8App integrated with Tecnomotum to provide additional value and enhanced capabilities to its users. Through this integration, users will have access to several functionalities, including current position, position history, messages, operational status and more.
This integration builds on the expansion earlier this year of Fr8Radar, an essential module that integrates the Fr8App platform with GPS providers across Mexico and the United States. In general, the logistics ecosystem remains largely fragmented with each GPS provider offering its own interface. Fr8Radar unifies these disparate systems into a single, streamlined control center, providing users with a comprehensive and centralized view of their fleet operations.
Javier Selgas, CEO of Fr8Tech, said: "We are proud to offer our customers an even better and more seamless experience. Fr8App's commitment to collaborating with key players in the logistics industry is unparalleled. With each new integration, Fr8App solidifies its position as the most connected and integrable platform for cross-border shipping in the USMCA region. By continuing to partner with industry leaders, Fr8App is leading the way in simplifying logistics processes and enhancing visibility for customers. Our dedication to integration underscores our commitment to delivering the best possible service to customers and is a testament to our continued success in the logistics industry.”
About Fr8App
Fr8App is a freight forwarding matching platform that uses innovative technology to connect shippers and carriers with available loads and trucks. With a focus on user experience and real-time data, Fr8App is making it easier than ever for businesses to manage their logistics operations and streamline their supply chain. For more information, please visit Fr8App
About Freight Technologies Inc.
Freight Technologies is a technology company developing solutions to optimize and automate the supply chain process. Its wholly owned subsidiary, Freight App, Inc. (Fr8App), is a B2B cross-border shipping marketplace in the USMCA region powered by AI and machine learning. Focused on making shipping transparent and efficient, Fr8App provides carriers with increased growth opportunities and shippers with flexibility, visibility and simplicity for the once-complex process of international OTR shipping. Fr8App uses its proprietary technology platform to connect carriers and shippers and significantly improve matching and operation efficiency via innovative technologies such as live pricing and real-time tracking, digital freight marketplace, brokerage, transportation management, fleet management, and committed capacity solutions. The company is headquartered in Houston, Texas. For more information, please visit fr8technologies.com or connect with the company on LinkedIn or X (Twitter).
Forward-Looking Statements
This press release includes “forward-looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. Freight Technologies' and Fr8App’s actual results may differ from their expectations, estimates and projections and, consequently, readers should not rely on these forward-looking statements as predictions of future events. Words such as “expect,” “estimate,” “project,” “budget,” “forecast,” “anticipate,” “intend,” “plan,” “may,” “will,” “could,” “should,” “believes,” “predicts,” “potential,” “continue” and similar expressions (or the negative versions of such words or expressions) are intended to identify such forward-looking statements.
These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from those discussed in the forward-looking statements. Most of these factors are outside Freight Technologies’ and Fr8App’s control and are difficult to predict. Factors that may cause such differences include, but are not limited to: (1) the impact of the COVID-19 pandemic on Fr8App’s business, if it should recur; (2) the inability to obtain or maintain the listing of Freight Technologies’ ordinary shares on Nasdaq; (3) changes in applicable laws or regulations; (4) the possibility that Freight Technologies or Fr8App may be adversely affected by other economic, business and/or competitive factors; (5) risks relating to the uncertainty of the projected financial information with respect to Fr8App; (6) risks related to the organic and inorganic growth of Fr8App’s business and the timing of expected business milestones; and (7) other risks and uncertainties identified, including those under “Risk Factors,” to be filed in Freight Technologies' other filings with the SEC. Freight Technologies cautions that the foregoing list of factors is not exclusive. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those indicated or anticipated by such forward-looking statements. Freight Technologies and Fr8App caution readers not to place undue reliance upon any forward-looking statements, which speak only as of the date made. Freight Technologies and Fr8App do not undertake or accept any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements to reflect any change in their expectations or any change in events, conditions or circumstances on which any such statement is based.
Fr8Tech Contact:
Jason Finkelstein
Ignition Investor Relations
investors@fr8technologies.com
FAQ
What is the purpose of Freight Technologies' integration with Tecnomotum?
How does the Fr8Radar module benefit Freight Technologies (FRGT) customers?
What functionalities will Fr8App users gain through the Tecnomotum integration?
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