Sign up to create alerts for Instruments,
Economic Events and content by followed authors
Free Sign Up Already have an account? Sign In
toth toth
Jan 22, 2026 1:32PM ET
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.”
0
0