Hindustan Unilever, Ltd. Awards SemiCab $1.6 Million Contract Expansion that Provides SemiCab With Important Strategic Geographic Synergies
Fort Lauderdale, FL, Jan. 21, 2026 (GLOBE NEWSWIRE) -- Algorhythm Holdings, Inc. ("Algorhythm") (NASDAQ: RIME) - a leading AI technology company, today announced its first contract expansion of 2026. SemiCab was awarded $1.6 million in new business by Hindustan Unilever, Ltd. ("HUL"), the Indian-based subsidiary of Unilever, one of the global leaders in consumer packaged goods and one of the largest shippers in India.
The award represents a more than 10x increase in contract value over the value of the pilot program the parties were previously operating under. Beyond the dollar value of the award, the award provides SemiCab with important geographic synergies in the Southern Corridor in Bangalore where SemiCab has a dominant market share in metropolitan areas that act as critical logistics hubs for multiple FMCG and consumer durables companies. The new HUL volume is very complementary to SemiCab's freight network, which will utilize the new HUL volume to minimize empty mileage and improve the utilization of its dedicated fleet in the Southern Corridor.
"This contract expansion with HUL addresses a key part of our growth strategy for 2026, which is improved network optimization" said Ajesh Kapoor, CEO of SemiCab. "One of the critical aspects of complex network optimization is density of lanes, or the frequency and raw volume of freight activity on a given route or in a geographic region. A higher density in lanes enables you to minimize variability and more consistently utilize the assets. The additional HUL volume provides SemiCab with the critical mass needed to more profitably serve other consumer products companies in the Bangalore region."
"This is an exciting early win for our SemiCab team," added Gary Atkinson, CEO of Algorhythm Holdings, Inc. "We are working hard to acquire additional new and expanded contracts with leading consumer package companies as we execute upon our growth plan. We will keep our shareholders informed of our progress through continued announcements of our accomplishments."
About Algorhythm Holdings
Algorhythm Holdings, Inc. is a leading AI technology company focused on the growth and development of SemiCab, an emerging leader in the global logistics and distribution industry. Since 2020, SemiCab has enabled major retailers, brands and transportation providers to address common supply-chain problems globally. Its AI-enabled, cloud-based Collaborative Transportation Platform achieves the scalability required to predict and optimize millions of loads and hundreds of thousands of trucks. SemiCab uses real-time data from API-based load tendering and pre-built integrations with TMS and ELD partners to orchestrate collaboration across manufacturers, retailers, distributors, and their carriers. SemiCab uses AI/ML predictions and advanced predictive optimization models to enable fully loaded round trips. With SemiCab's AI platform, shippers pay less and carriers make more without having to change a thing. For additional information, please go to: http://www.semicab.com.
Investor Relations Contact
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This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Any statement that is not historical in nature is a forward-looking statement and may be identified by the use of words and phrases such as "expects," "anticipates," "believes," "will," "will likely result," "will continue," "plans to," "potential," "promising," and similar expressions. These statements are based on management's current expectations and beliefs and are subject to a number of risks, uncertainties and assumptions that could cause actual results to differ materially from those described in the forward-looking statements, including the risk factors described from time to time in Algorhythm's reports to the SEC, including, without limitation Algorhythm's Annual Report on Form 10-K for the year ended December 31, 2024. You should not place undue reliance on any forward-looking statement, each of which applies only as of the date of this press release. Except as required by law, we undertake no obligation to update or revise publicly any of the forward-looking statements after the date of this press release to conform our statements to actual results or changed expectations, or as a result of new information, future events or otherwise.
