Algorhythm announces fleet expansion for SemiCab India

Algorhythm (RIME) Holdings provided an operational update for its SemiCab AI logistics and distribution business. SMCB Solutions Private, Algorhythm’s subsidiary that operates SemiCab’s cloud-based Collaborative Transportation Platform in the Indian market, entered into a series of freight services agreements with several full truckload carriers during Q1 2025. These transactions expanded SemiCab India’s active fleet to over 140 trucks, with rights to expand its fleet by an additional 450 trucks through current contracts. An additional 1,000 trucks are in the pipeline from contractual relationships with new FTL carriers that are expected to close during the second half of 2025 as demand continues to rise. Each long-haul FTL truck in India generates approximately $40,000 in annual freight revenue. With the current supplier contracts, SemiCab India currently has the capacity to expand its fleet to 590 trucks, representing up to $23 million in annual freight services on an as-needed basis. The Company plans to develop its growing pipeline of pending contracts with new FTL carriers to grow its fleet to over 1,000 vehicles by the end of 2025 to keep pace with demand.