Core Insights - Algorhythm Holdings, Inc. announced that its subsidiary, SemiCab India, secured a supply chain finance receivables facility with Bank of America, providing access to low-cost, non-dilutive working capital [2][3] Group 1: Financial Facility Details - The facility allows SemiCab India to accelerate payment on eligible accounts receivable for services provided to its three largest global customers, which are major multinational FMCG and automotive companies in India [3] - The financing arrangement is non-dilutive, with a cost of 1% above the Indian one-year Treasury Bill rate, currently around 5.6% [3] Group 2: Strategic Importance and Growth Plans - The CEO of Algorhythm emphasized the strategic partnership's significance and the quality of capital available to SemiCab, enabling faster scaling without heavy reliance on equity financing [4] - The recent $4.4 million financing, combined with the new facility, positions the company well for growth into 2026, with plans to expand client-driven financing solutions [4] Group 3: Company Overview - Algorhythm Holdings focuses on the growth of SemiCab, which addresses global supply chain challenges through its AI-enabled, cloud-based Collaborative Transportation Platform [5] - SemiCab's platform utilizes real-time data and advanced predictive optimization models to enhance logistics efficiency, benefiting both shippers and carriers [5]
Algorhythm Holdings Announces Supply Chain Finance Facility with Bank of America for SemiCab India