Freight Technologies Enters into Securities Purchase Agreement with Fetch Compute to Acquire Tokens in One of the Largest Decentralized Artificial Intelligence Computing Networks

Core Insights - Freight Technologies, Inc. has entered into a Securities Purchase Agreement to acquire $5.2 million of FET Tokens from Fetch Compute, exchanging them for 2,311,248 Series A4 preferred shares [1][2] - The acquisition of FET Tokens aligns with the company's vision for scalable and secure AI solutions in the logistics market, enhancing its competitive advantage [2][3] - The CEO emphasized that this acquisition strengthens the company's commitment to logistics innovation and diversifies its balance sheet, aiming to empower clients with real-time visibility and supply chain transparency [3] Company Overview - Freight Technologies, Inc. is a technology company focused on optimizing and automating supply chain processes through AI and machine learning [4] - The company's portfolio includes various solutions such as Fr8App for cross-border shipping, Fr8Now for less-than-truckload shipping, and Fleet Rocket for transportation management [4] - The interconnected products aim to improve operational efficiency in logistics through innovative technologies like live pricing and real-time tracking [4] Strategic Partnerships - The acquisition of FET Tokens creates asset diversification and establishes a crypto treasury, allowing the company to introduce cryptocurrency into the Over-the-Road (OTR) carrier and logistics markets [7] - Freight Technologies plans to collaborate with Fetch.AI to further develop blockchain and AI technologies within the logistics sector [7]