Freight Technologies Announces Further Restructuring, Workforce Reductions and $1.2 Million Preferred Share Offering as It Advances Shift to AI Logistics Software Business
· Source: quiverquant.com
In short
Freight Technologies (Fr8Tech) is accelerating its transformation from an online freight broker to a pure-play software and AI logistics technology company. The company has raised $1.2 million through Series C Preferred Shares, reduced its workforce, and scaled back brokerage operations to lower expenses and focus on higher-margin SaaS and AI revenue streams. The restructuring is expected to be substantially completed by the end of Q3 2026, with Fr8Tech targeting profitability through its AI-powered platform anchored by Fleet Rocket.
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Tags: restructuring, AI logistics, workforce reduction, funding, supply chain, software