Freight Technologies transitioning to AI-driven logistics technology company

Freight Technologies (FRGT) announced progress in its transformation from an OTR online freight broker to a software-first, AI-native logistics technology company. As part of the company’s strategic transition, the company is exploring strategic alternatives for its online brokerage operations, including its potential sale, and has engaged with multiple interested parties as part of that process. The Board is overseeing the evaluation of strategic alternatives for the brokerage operations. The company’s brokerage operations have served as the proving ground for the AI-enabled automation technologies. The company has determined that an AI-software business model represents the most direct path to deliver long-term value in the market. The company’s enterprise customer relationships, technology infrastructure, and AI development pipeline are unaffected by the strategic review process. Zayren Pro, the premium SaaS tier of the company’s AI pricing and carrier-matching platform, launched in January. Fr8Radar, Fleet Rocket’s real-time geolocation module, now integrates 73 GPS network providers across the U.S. and Mexico. Fr8Tech believes its integrated software platform is well positioned to pursue the market opportunity of the U.S.-Mexico trade corridor.