Freight Technologies Launches Waavely, a Revolutionary Digital Ocean Freight Platform
July 08 2024 - 9:05AM
Freight Technologies, Inc. (Nasdaq: FRGT) (“Fr8Tech” or
“Freight Technologies”),a technology-driven logistics company
offering Fr8App, its proprietary and industry-leading
freight-matching platform powered by AI and machine-learning that
provides a real-time portal for B2B cross-border shipping and
domestic shipping within the USMCA region, announced today the
official launch of Waavely, a state-of-the-art platform designed to
revolutionize ocean freight booking and management for companies
shipping containers between North America and ports around the
world. Waavely is live and currently available with the platform
already successfully handling ocean freight.
To learn more about Waavely, please visit
waavely.com
"Waavely aims to bring unprecedented control, agility, and
transparency to ocean freight brokerage through advanced
digitalization, and we are extremely proud of this launch which
represents a significant advancement in the management of ocean
freight,” said Javier Selgas, CEO of Freight Technologies Inc. “By
leveraging cutting-edge technology and a free-to-use platform that
charges a management fee per load, we help businesses optimize
their maritime logistics operations, while reducing costs and
improving overall efficiency. Our goal is to support and streamline
global shipping and create a more connected and transparent supply
chain for our users and customers."
Key Features of Waavely’s 360° Logistics
Platform
- Instant
Quotes and Booking: Users can request and receive instant
quotes for maritime shipments and manage bookings directly through
the platform, streamlining the entire freight process.
- Automation: The
platform automates key logistics processes from quoting to managing
and paying, enhancing efficiency and reducing operational
costs.
- Real-Time
Tracking: Waavely offers 24/7 tracking capabilities,
allowing users to monitor their shipments through an interactive
map, ensuring constant visibility and control over logistics
operations.
- Full
Transparency: With detailed shipment specifications and
real-time updates, Waavely ensures that all parties have access to
necessary documentation and information, enhancing transparency and
trust.
The development of Waavely stems from the growing demand among
Freight Technologies’ existing clients who use the Fr8App platform
for over-the-road (OTR) transportation and also require efficient
solutions for ocean freight. By integrating Waavely with Fr8App,
customers can now manage both OTR and ocean freight seamlessly
within a single platform. This integration offers a streamlined
logistics experience, enhancing operational efficiency and reducing
complexity for businesses involved in both types of
transportation.
Freight Technologies platforms are designed to be scalable,
allowing shippers and carriers to transact without limits and
expand their market reach. The existing infrastructure and success
of Fr8App provides a robust foundation, enabling not just Freight
Technologies to quickly expand into new markets, but also its
customers and network carriers to follow suit. This scalability
ensures that Waavely can efficiently handle increased demand and
adapt to the evolving needs of the logistics industry.
About Freight Technologies Inc.
Freight Technologies 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 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,
brokerage, 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, readers
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 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, if it should
recur; (2) the inability to obtain or maintain the listing of
Freight Technologies’ ordinary shares on Nasdaq; (3) changes in
applicable laws or regulations; (4) the possibility that Freight
Technologies or Fr8App may be adversely affected by other economic,
business and/or competitive factors; (5) risks relating to the
uncertainty of the projected financial information with respect to
Fr8App; (6) risks related to the organic and inorganic growth of
Fr8App’s business and the timing of expected business milestones;
and (7) 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.
Fr8Tech Contact:
Jason Finkelstein
Ignition Investor Relations
investors@fr8technologies.com
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