HOUSTON, May 18, 2023 (GLOBE NEWSWIRE) -- Freight Technologies, Inc. (Nasdaq: FRGT, Fr8Tech or Company), a leading technology company developing innovative solutions powered by AI and machine learning to optimize and automate the supply chain process, providing its Fr8App platform for B2B cross-border shipping, Fr8now for LTL shipping services and Fr8Fleet for dedicated capacity to enterprise companies in the USMCA region, was highlighted as an example of early adoption of leading edge technology by implementing advanced markers from Google Maps Platform on their Fr8App platform to improve the user experience. Following Google's annual developer conference, Fr8App was cited in Google Maps Platform's blog announcing its latest on maps customization, as an example of how new technology can be adopted to create interactive and insightful visual experiences. Fr8App platform users can now click on advanced markers and Fr8App’s platform displays relevant information about the load, such as current status, location and other relevant information.
Advanced markers help the Fr8App platform make it easier for end users to track the progress of their shipments. Different icons represent various stages of the load, including “At destination”, “Loading”, “In Transit”, among others. This user-friendly feature helps to optimize monitoring operations by Fr8app’s clients and can help lower their infrastructure costs, manage data access and update geospatial data.
Javier Selgas, Fr8Tech's CEO, stated that “At Fr8Tech, our priority is always the end user. We are constantly looking for new ways to improve their experience, and the implementation of the advanced markers capability from Google Maps Platform has been a key factor in achieving this. By providing our customers with a more user-friendly experience and improving their use of our system, we are at the same time helping them save time and money while increasing engagement.”
As quoted in the article, Alvaro Garrido, IT Director at Fr8Tech, said, “Google Maps Platform stood out as the best geospatial provider for Fr8app due to its ease of use and reliability. We use advanced markers to display important information about our trucking partners, and marker clustering to manage large data volumes. With previous mapping solutions, customization and data management was a challenge. Advanced markers improved our user experience and streamlined our workflow, resulting in increased engagement.”
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.
