HOUSTON, Feb. 15, 2023 (GLOBE NEWSWIRE) -- Freight Technologies, Inc. (Nasdaq: FRGT) (“Fr8Tech''), a technology company whose custom-developed Fr8App, an industry-leading freight-matching platform powered by AI and machine-learning and offers a real-time portal for B2B cross-border shipping and domestic shipping within the USMCA region, is proud to announce the launch of a major update for its transportation management system (Fr8TMS). The new update is aimed at revolutionizing the commercial trucking industry by introducing logistics and transportation technology to move freight within the USMCA region, with a focus on cross-border shipping.
The update includes several new features and improvements, such as better real-time tracking and monitoring of shipments, which will allow shippers to see exactly where their freight is at all times and to receive notifications if there are any delays or issues. The new rating system for carriers will allow shippers to compare the performance of multiple carriers to make better-informed decisions about which ones to use.
The Fr8App platform and mobile application connect shippers, carriers and drivers, making it easy for them to move freight within the USMCA region. This streamlined booking process, improved search and filtering options and the new transportation management shipment for easy access on the go will make it easier for shippers to find and book the right freight at the right price.
"We are excited to introduce this new update to the Fr8TMS, which will revolutionize the commercial trucking industry. The new features and improvements will make it easier for shippers to move their freight, and it will also benefit carriers and drivers by connecting them with shippers looking to move their freight," said Javier Selgas, CEO of Freight Technologies.
The Fr8App team is dedicated to continuing to improve and evolve the platform to meet the needs of its customers. The company is confident that the new update will make Fr8App even more valuable for shippers and help them to save time and money on their freight operations.
For more information about Fr8App and the new Fr8TMS update, please visit www.fr8.app.
HOW DOES IT WORK?
- To schedule a shipment with Fr8App, you'll need to first create an account through their website. Upon completion of your registration, a Fr8App representative will reach out to you to ensure that you have all the necessary information and support in setting up your initial shipment.
- The process of scheduling a shipment is simple and user-friendly, after logging into your account, you will be prompted to provide your pickup and delivery locations. The application will then provide you with a cost estimation, and if you approve of the price, you can confirm your shipment with a single tap.
- Once the shipment details have been confirmed, truck drivers will be able to view the shipment information and choose to accept the job. The driver will then collect the cargo at the agreed-upon time, while the shipper will receive regular updates and can track the shipment as it progresses.
- The driver will also take pictures to confirm the successful delivery of the items to their final destination. Shippers can reserve loads up to two weeks in advance, and the minimum notice period is 24 hours.
The shipper platform is currently only available as a desktop app.
About Freight Technologies Inc.
Freight Technologies (Nasdaq: FRGT) (“Fr8Tech") 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 USMCA region powered by 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. 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. Freight Technologies' and Fr8App’s actual results may differ from their expectations, estimates, and projections and, consequently, you 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 include, without limitation, Freight Technologies’ and Fr8App’s expectations with respect to future performance and anticipated financial impacts of its acquisition of Fr8App.
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 Freight Technologies’ and Fr8App’s control and are difficult to predict. Factors that may cause such differences include, but are not limited to: (1) the impact of the COVID-19 pandemic on Fr8App’s business; (2) the inability to obtain or maintain the listing of Freight Technologies’ ordinary shares on Nasdaq; (3) the ability to recognize the anticipated benefits of the merger, which may be affected by, among other things, competition and the ability of Fr8App to grow, manage growth profitably and retain its key employees; (4) costs related to the merger; (5) changes in applicable laws or regulations; (6) the possibility that Freight Technologies or Fr8App may be adversely affected by other economic, business and/or competitive factors; (7) risks relating to the uncertainty of the projected financial information with respect to Fr8App; (8) risks related to the organic and inorganic growth of Fr8App’s business and the timing of expected business milestones; and (9) other risks and uncertainties identified, including those under “Risk Factors,” to be filed in Freight Technologies' other filings with the SEC. Freight Technologies 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. Freight Technologies and Fr8App caution readers not to place undue reliance upon any forward-looking statements, which speak only as of the date made. Freight Technologies and Fr8App 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.
