Fr8Tech cuts workforce, raises $1.2M as it exits brokerage ops
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Fr8Tech Advances AI-Native Transformation, Reduces Workforce and Raises Additional Capital
July 15, 2026 9:43 AM EDTHOUSTON, July 15, 2026 (GLOBE NEWSWIRE) -- Freight Technologies, Inc. (Nasdaq: FRGT, Fr8Tech or the Company), a technology-centric logistics company offering a diversified portfolio of AI software solutions designed to address key inefficiencies in the supply chain, today announced that it has completed additional steps in its transition from an online freight broker to a pure-play, software and AI logistics technology company. These steps include a further reduction in workforce, a reduction of certain brokerage operations, and raising $1.2 million through the issuance of additional Series C Preferred Shares. The Company expects these actions to meaningfully lower operating expenses, reduce... More
