Freight Technologies’ Waavely Platform Sees Early Adoption Following Successful Launch
Freight Technologies (Nasdaq: FRGT) reports early success for its digital ocean freight platform, Waavely, launched in July 2024. The platform has secured four active customers since its launch, showing promising early adoption. The company is focusing on growing volume with existing clients while adding new customers. Fr8Tech is actively evolving Waavely's capabilities based on customer feedback and working to expand its network of ocean carriers, logistics providers, and shippers to meet industry demands. The platform aims to provide greater control, agility, and transparency in ocean freight logistics.
Freight Technologies (Nasdaq: FRGT) riporta un successo iniziale per la sua piattaforma digitale di trasporto marittimo, Waavely, lanciata a luglio 2024. La piattaforma ha già acquisito quattro clienti attivi dalla sua inaugurazione, dimostrando una promettente adozione iniziale. L'azienda si sta concentrando sulla crescita del volume con i clienti esistenti mentre acquisisce nuovi clienti. Fr8Tech sta attivamente evolvendo le capacità di Waavely basandosi sul feedback dei clienti e sta lavorando per espandere la propria rete di vettori marittimi, fornitori di logistica e spedizionieri per soddisfare le esigenze del settore. La piattaforma mira a fornire un maggiore controllo, agilità e trasparenza nella logistica del trasporto marittimo.
Freight Technologies (Nasdaq: FRGT) informa sobre un éxito temprano para su plataforma digital de transporte marítimo, Waavely, lanzada en julio de 2024. La plataforma ha asegurado cuatro clientes activos desde su lanzamiento, mostrando una adopción temprana prometedora. La empresa se centra en aumentar el volumen con los clientes existentes a la vez que añade nuevos clientes. Fr8Tech está evolucionando activamente las capacidades de Waavely basándose en la retroalimentación de los clientes y trabajando para expandir su red de transportistas marítimos, proveedores logísticos y cargadores para satisfacer las demandas de la industria. La plataforma tiene como objetivo proporcionar un mayor control, agilidad y transparencia en la logística del transporte marítimo.
Freight Technologies (Nasdaq: FRGT)는 2024년 7월에 출시된 디지털 해상 화물 플랫폼 Waavely의 초기 성공을 보고했습니다. 이 플랫폼은 출시 이후 4명의 활성 고객을 확보하여 유망한 초기 수용성을 보여주고 있습니다. 회사는 기존 고객과의 물량 증가에 집중하며 신규 고객도 추가하고 있습니다. Fr8Tech는 고객 피드백을 바탕으로 Waavely의 기능을 적극적으로 발전시키고 있으며, 산업 수요를 충족하기 위해 해상 운송업체, 물류 제공업체 및 화주 네트워크를 확장하기 위해 노력하고 있습니다. 이 플랫폼은 해상 화물 물류에서 더 큰 제어, 민첩성 및 투명성을 제공하는 것을 목표로 합니다.
Freight Technologies (Nasdaq: FRGT) rapporte un succès précoce pour sa plateforme numérique de fret maritime, Waavely, lancée en juillet 2024. La plateforme a sécurisé quatre clients actifs depuis son lancement, montrant une adoption précoce prometteuse. L'entreprise se concentre sur l'augmentation des volumes avec les clients existants tout en ajoutant de nouveaux clients. Fr8Tech évolue activement les capacités de Waavely sur la base des retours des clients et travaille à l'expansion de son réseau de transporteurs maritimes, de prestataires logistiques et d'expéditeurs pour répondre aux exigences du secteur. La plateforme vise à fournir un meilleur contrôle, agilité et transparence dans la logistique du fret maritime.
Freight Technologies (Nasdaq: FRGT) berichtet über erste Erfolge seiner digitalen See-Frachtplattform Waavely, die im Juli 2024 gestartet wurde. Die Plattform hat seit ihrer Einführung vier aktive Kunden gewonnen, was auf eine vielversprechende frühzeitige Akzeptanz hindeutet. Das Unternehmen konzentriert sich darauf, das Volumen mit bestehenden Kunden zu erhöhen, während es neue Kunden hinzufügt. Fr8Tech entwickelt aktiv die Fähigkeiten von Waavely weiter, basierend auf Kundenfeedback und arbeitet daran, sein Netzwerk von Reedereien, Logistikdienstleistern und Verladern auszubauen, um den Anforderungen der Branche gerecht zu werden. Die Plattform zielt darauf ab, mehr Kontrolle, Agilität und Transparenz in der See-Frachtlogistik zu bieten.
- Successfully secured 4 active customers within first months of Waavely platform launch
- Platform showing early market traction and adoption
- Receiving active customer feedback for product development
- None.
Insights
The early adoption of Waavely with four customers since its July 2024 launch, while a positive start, represents minimal impact on FRGT's immediate financial outlook given the company's small market cap of
The platform's success will ultimately depend on its ability to scale beyond these initial adopters and generate meaningful revenue. Without specific financial metrics, customer size details, or revenue projections, it's premature to gauge the platform's material impact on the company's performance. The focus on gathering user feedback suggests the platform is still in early development phases, with significant work needed to expand carrier networks and feature sets.
HOUSTON, Nov. 11, 2024 (GLOBE NEWSWIRE) -- Freight Technologies, Inc. (Nasdaq: FRGT, “Fr8Tech” or the “Company”), a logistics management innovation company, offering a diverse portfolio of technology-driven solutions that address distinct challenges within the supply chain ecosystem, is pleased to announce that since its launch in July 2024, its digital ocean freight platform, Waavely, has already secured four active customers, demonstrating promising early demand, adoption and traction for this innovative solution.
Fr8Tech’s marketing strategy is currently focused on growing volume with existing clients and adding new customers to the platform. Simultaneously, both existing customers and prospects are providing the Company with invaluable feedback as we continue to actively evolve and expand Waavely’s service capabilities, and scale by bringing additional ocean carriers, logistics providers, and shippers into the offering to meet the specific growing demands of the industry.
“Waavely’s success in such a short period since its launch demonstrates the shipping industry’s need for greater control, agility, and transparency in ocean freight logistics and is a testament to the platform's value in improving operational efficiency, reducing costs, and providing real-time visibility for maritime logistics,” said Javier Selgas, CEO of Freight Technologies. “We’re thrilled to see the growing number of customers benefiting from the platform and are committed to expanding Waavely’s capabilities to meet evolving shipping needs.”
About Freight Technologies Inc.
Freight Technologies (Nasdaq: FRGT) (“Fr8Tech") is a technology company offering a diverse portfolio of proprietary platform solutions powered by AI and machine learning to optimize and automate the supply chain process. Focused on addressing the distinct challenges within the supply chain ecosystem, the Company’s portfolio of solutions includes the Fr8App platform for seamless OTR B2B cross-border shipping across the USMCA region; Fr8Now, a specialized service for less-than-truckload (LTL) shipping; Fr8Fleet, a dedicated capacity service for enterprise clients in Mexico; and Waavely, a digital platform for efficient ocean freight booking and management of container shipments between North America and ports worldwide. Together, each product is interconnected within a unified 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 support, transportation management, fleet management, and committed capacity solutions. The company is headquartered in Houston, Texas. For more information, please visit fr8technologies.com.
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. Fr8Tech’s and Fr8App Inc.’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 Fr8Tech’s and Fr8App Inc.’s control and are difficult to predict. Factors that may cause such differences include, but are not limited to: (1) the inability to obtain or maintain the listing of Fr8Tech’s ordinary shares on Nasdaq; (2) changes in applicable laws or regulations; (3) the possibility that Fr8Tech or Fr8App Inc. may be adversely affected by other economic, business and/or competitive factors; (4) risks relating to the uncertainty of the projected financial information with respect to Fr8App Inc.; (5) risks related to the organic and inorganic growth of Fr8App Inc.’s business and the timing of expected business milestones; and (6) other risks and uncertainties identified, including those under “Risk Factors,” to be filed in ’Fr8Tech other filings with the Securities Exchange Commission.
Fr8Tech 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. Fr8Tech and Fr8App Inc. caution readers not to place undue reliance upon any forward-looking statements, which speak only as of the date made. Fr8Tech and Fr8App Inc. 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.
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