- Coca-Cola India will be onboarded onto SemiCab’s AI-powered Collaborative Transportation Platform.
- The pilot will assess SemiCab’s ability to reduce empty miles, improve delivery efficiency, and lower transportation costs.
- The win adds to tie-ups with P&G India, Unilever India, Asian Paints, and Marico.
Shares of Algorhythm Holdings (RIME) jumped nearly 25% on Tuesday after the company announced that its unit, SemiCab, secured a pilot program with Hindustan Coca-Cola Beverages, a subsidiary of The Coca-Cola Company and its largest bottling partner in India.
SemiCab is a logistics technology company that uses an AI-driven, cloud-based platform to process real-time data and improve freight movement.
Expansion In The Indian Market
Under the agreement, Coca-Cola India will be onboarded onto SemiCab’s AI-powered Collaborative Transportation Platform. The pilot will assess SemiCab’s ability to reduce empty miles, improve delivery efficiency, and lower transportation costs.
The cloud-based platform uses artificial intelligence and machine learning to optimize freight routes and enable fully loaded round trips. If successful, the pilot could lead to a broader rollout, the company said.
“We are confident that this pilot will showcase the significant cost savings and efficiency gains our platform can deliver,” said Ajesh Kapoor, CEO of SemiCab Holdings.
The win adds to recent contracts with Indian brands, including P&G India, Unilever India, Asian Paints, and Marico.
Stock More Than Doubles In A Month
The stock has been in the limelight lately, gaining more than 125% over the past month. Earlier in February, Algorythm said that SemiCab has enabled customers to scale freight volumes by 300% to 400% without increasing headcount.
A recent white paper by SemiCab shows how its AI-driven platform is turning freight management from a manual process into a highly automated system. Operators using SemiCab can manage over 2,000 loads per year, compared to the industry average of about 500.
How Did Stocktwits Users React?
Retail sentiment for RIME changed to ‘bullish’ from ‘extremely bullish’ a day earlier, amid ‘high’ message volumes.
One Stocktwits user expects volatility to persist until the stock breaks out.
Year-to-date, the stock has gained more than 100%.
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