Freight Technologies Announces Major Expansion of Fr8Radar Module in Fr8App Platform

Freight Technologies, Inc. (“Freight Technologies”, “Fr8Tech” or the “Company”) (NASDAQ: FRGT), an innovative logistics technology solutions company offering its custom-developed Fr8App, an industry-leading freight-matching platform powered by AI and machine learning that offers a real-time portal for B2B cross-border and domestic shipping within the USMCA region, is proud to announce a significant milestone in the expansion of its Fr8Radar module within the Fr8App platform. In the first half of 2024, Fr8Radar has successfully integrated with 15 new GPS providers, bringing the total number of GPS integrations to 28. This advancement brings Fr8App closer to its goal of becoming the most connected, comprehensive, and integrated platform for monitoring trucks in Mexico and facilitating cross-border logistics.

Fr8Radar is an essential module that integrates the Fr8App platform with GPS providers across Mexico and the United States. This integration allows for real-time tracking of truck and trailer positions, directly from the GPS devices installed in the vehicles. With the logistics ecosystem comprising numerous GPS providers, each with its own interface, Fr8Radar consolidated these various interfaces into a single, centralized control center.

“At Freight Technologies, we are committed to advancing the logistics industry through cutting-edge technology,” said Javier Selgas, Chief Executive Officer of Freight Technologies. “The recent expansion of Fr8Radar significantly enhances our platform’s capability to provide real-time visibility and security for our clients. This is particularly crucial for the Mexican over-the-road transportation industry and cross-border logistics involving Mexico, where the risk of cargo theft is a significant concern.”

The integration of multiple GPS providers into one control center not only streamlines operations but also heightens security measures. By offering a consolidated view, Fr8Radar enables transportation companies to anticipate and respond to potential threats more effectively. This proactive approach is vital for safeguarding valuable cargo and ensuring timely deliveries.

Freight Technologies’ continuous integration efforts reflect its dedication to providing the most advanced and reliable solutions in the logistics sector. With the addition of 15 new GPS providers, Fr8Radar now stands as one of the most integrated platforms for truck monitoring in Mexico, offering unparalleled support for cross-border operations.

“Security and efficiency are at the core of our mission,” Mr. Selgas emphasized. “By continuously expanding our network of GPS integrations, we are empowering our clients with the tools they need to protect their assets and optimize their logistics processes.”