Freight Technologies (NASDAQ: FRGT), a technology company developing solutions to optimize and automate the supply chain process as well as providing a platform for B2B cross-border shipping in the NAFTA region, has been awarded a contract with Samsung Mexico in regard to its SDS business. According to the announcement, FRGT has already started to use its platform to assist with shipments from Mexico to the United States. Fr8App delivers cross-border capacity “during a difficult market when others have not been able to do so,” said a Samsung Mexico official, who noted that the company has more than 100 trucks going from Mexico to the United States every week. Fr8App provides ongoing administrative support of the logistics of those US-Mexico border shipments and eliminates the need for paper tracking, addressing a key piece of the company’s commitment to develop sustainable practices. Samsung Mexico SDS (formerly Samsung Data Systems) is a subsidiary of Samsung’s Group. The company has been leading the digital transformation and innovation of the industry for more than three decades and has operations in some 40 countries. “Samsung, one of the world’s largest producers of electronic devices, selected Fr8App to ship from Mexico cross border to the United States, which we believe validates the Fr8App platform,” said Fr8Tech CEO Javier Selgas in the press release. “We believe this is just the beginning of many great things to come.”
To view the full press release, visit https://ibn.fm/M7GE1
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 NAFTA region powered by artificial intelligence (“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 over-the-road (“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, broker, transportation management, fleet management and committed capacity solutions. For more information about the company, please visit www.FR8Technologies.com.
NOTE TO INVESTORS: The latest news and updates relating to FRGT are available in the company’s newsroom at https://ibn.fm/FRGT
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