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Freight Technologies Inc. (NASDAQ: FRGT) (“Fr8Tech”) is a technology company developing solutions to optimize and automate the supply chain process,
providing a platform for B2B cross-border shipping in the NAFTA region. The company’s mission is to revolutionize cross-border shipping by providing carriers with increased growth opportunities and shippers with flexibility, visibility and simplicity for the once-complex process of international over-the-road shipping.
Freight Technologies, formerly known as Hudson Capital Inc., assumed its current name and ticker symbol on May 27, 2022. Its primary operating subsidiary and its marketplace are known as Fr8App, and it conducts operations throughout North America under the names of Fr8App and/or Freight App. The company is headquartered in Houston, Texas, with multiple locations across the U.S.
and Mexico.
The Fr8Tech Solutions Suite
Fr8Tech leverages artificial intelligence to provide cloud-based platforms aimed at automating the over-the-road transportation process, effectively reducing human touch points and expediting load booking times. The company’s suite of solutions includes:
- Fr8app – A B2B marketplace powered by AI and Machine Learning offering a real-time broker portal to connect shippers with qualified carriers
- Fr8Radar – A tracking solution providing shippers and carriers real-time locational data via Fr8app’s mobile solution or through integration with third-party GPS alternatives
- Fr8TMS – A transportation management system designed to help shippers manage their freight and all of the documents involved in shipping transactions, including invoices, customs documents, confirmation rates and proof of deliveries
- Fr8FMS – A fleet management system allowing transportation companies to better manage their fleets, reduce operational costs and provide better service to their customers
- Fr8Data – A data solution offering real-time dashboards and reports to shippers and carriers in an effort to increase visibility and control while supporting better business decisions
- Fr8Fleet – A platform that provides private fleet management, enabling large corporate shippers to purchase dedicated capacity secured by Fr8app in exchange for a fixed fee
Commitment to the Environment
Through its core focus on technology, Fr8Tech seeks to reduce the carbon footprint of the logistics industry. Its solutions aim to minimize empty miles for transportation firms and reduce overall paper consumption.
Fr8University
Fr8University is an educational program offering classroom and on-the-job training for Fr8Tech team members. Through the program, employees learn in-depth business fundamentals and applications along the truckload freight industry value chain.
Led by corporate educator Mario Mena, Fr8University is designed as an investment in the company’s human capital, providing an opportunity to communicate Fr8Tech’s corporate culture while accelerating operational growth.
Investment Considerations
- Fr8Tech aims to revolutionize cross-border shipping by providing shippers flexibility, visibility and simplicity.
- Through Fr8app, the company reduces human touch points and expedites load booking times.
- Fr8Tech seeks to lessen the carbon footprint of the logistics industry by minimizing empty miles for transportation firms and reducing overall paper consumption.
- The company’s established foothold in Mexico, the U.S.’s largest trade partner, is key to its current efforts to promote sustainable growth in the cross-border shipping industry.
- U.S.-Mexico cross-border annual freight spending is estimated at $385 billion.
- The company is led by a strong management team with decades of experience in transportation and technology.
Additional Resources
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RECENT COVERAGE
InvestorNewsBreaks - Freight Technologies Inc. (NASDAQ: FRGT) Announces Samsung Mexico SDS Contract Award
July 26, 2022 8:30 AM
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.”
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