Under the agreement, Algorhythm's subsidiary, SemiCab will provide enterprise-level shipping services through its AI-powered software platform, designed to reduce service costs, improve delivery accuracy, and eliminate empty miles. The contract, set to commence in mid-October 2024, will cover several major metropolitan markets across India.
The MSA will be serviced by SemiCab's Indian subsidiary, SMCB Private Solutions Limited, which Algorhythm holds an option to acquire, with the acquisition expected to close in Q4 2024.