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Algorhythm’s SemiCab India Secures 8 New Deals

On June 3, Algorhythm Holdings Inc. (NASDAQ:RIME) announced that its subsidiary, SMCB Solutions Private Limited (SemiCab India), has significantly expanded its operations in India. This expansion includes signing 4 new pilot agreements and securing 4 contract expansions with a total of 8 enterprise-scale customers. Under the new contracts, SemiCab India will use its AI-powered and cloud-based Collaborative Transportation Platform to provide enterprise-level shipping services.

Image by qgadrian from Pixabay

The contract expansions are projected to increase SemiCab India’s annualized revenue run rate by over 400% compared to Q1 2025 levels. Additionally, these expansions are set to boost transportation lanes and volume by 100% to more than 200% over current levels, and cover over 20 new high-density corridors, primarily in the South-West-Central regions of India. This will enhance fleet utilization and reduce empty miles.

The new customer pilot programs, with large conglomerate industrial and consumer products companies, are in various phases of onboarding, with services expected to commence during June 2025. These new pilots were acquired through referrals from existing customers and represent new entrants to India’s National Digital Freight Exchange/NDFE. SemiCab India currently operates a fleet of over 140 trucks. To meet increasing demand, the company has the right to add an additional 450 trucks and plans to grow its fleet to over 1,000 vehicles by the end of 2025.

Algorhythm Holdings Inc. (NASDAQ:RIME) is an AI-driven technology and consumer electronics holding company, with SemiCab as one of its primary business units. SemiCab is a global logistics and distribution company.

While we acknowledge the potential of RIME to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than RIME  and that has 100x upside potential, check out our report about the cheapest AI stock.

READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now.

Disclosure: None. This article is originally published at Insider Monkey.

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