- Contract expansions are expected to increase SemiCab India's revenue run rate by over 400% compared to Q1 2025.
- SemiCab India plans to expand its fleet from 140 to over 1,000 trucks by the end of 2025.
- India's freight market is projected to grow from $140 billion to $240 billion by 2029, offering significant opportunities.
Algorhythm Holdings (RIME, Financial), a leading AI technology and consumer electronics holding company, has announced a significant expansion for its subsidiary, SemiCab India. The company has secured four new pilot agreements along with four contract expansions with enterprise-scale customers in India. These developments are set to drive a more than 400% increase in the annualized revenue run rate over Q1 2025 levels for the AI-powered digital freight orchestration platform.
The contract expansions are expected to boost transportation lanes and volume by 100-200% in India's freight market. This expansion will improve coverage for over 20 high-density corridors, enhancing fleet utilization and reducing empty miles. As part of its growth strategy, SemiCab India, which currently operates more than 140 trucks, has the rights to add an additional 450 trucks to meet increasing demand, aiming for a fleet size of over 1,000 vehicles by the end of 2025.
These new agreements represent a strategic geographic expansion into the densely populated South-West-Central corridors of India. This move aligns well with India's burgeoning freight transportation market, which is projected to grow from $140 billion to $240 billion by 2029. SemiCab India is positioning itself to capitalize on this growth by leveraging its AI-enabled Collaborative Transportation Platform to offer improved logistical efficiencies and cost reductions for its multinational clients, thereby solidifying its market presence.
