Core Insights - Algorhythm Holdings, Inc. has secured an additional $9.5 million under its existing $20 million financing facility, raising the total capital to $19.5 million, which positions the company to execute its global growth strategy for the SemiCab platform [1][2] Financial Position - Following the new funding, Algorhythm reported approximately $12.5 million in cash on hand, providing sufficient capital for the expansion of its SemiCab platform in India, the U.S., and other international markets [2] - The company has repaid approximately $7 million of the initial $10 million under the financing facility, enhancing its balance sheet and increasing stockholders' equity [3] Strategic Focus - The company aims to utilize the proceeds from the funding to accelerate U.S. go-to-market efforts for the newly launched SemiCab Apex SaaS platform, grow its customer base in India, expand into new freight logistics markets, and develop complementary products and services [6] Company Overview - Algorhythm Holdings, Inc. is a leading AI technology company focused on the growth of SemiCab, which addresses supply-chain challenges globally through its AI-enabled, cloud-based Collaborative Transportation Platform [4] - SemiCab's platform utilizes real-time data and advanced predictive optimization models to enhance logistics efficiency, allowing shippers to reduce costs while increasing carrier earnings [4]
Algorhythm Holdings Strengthens Balance Sheet with $9.5 Million Capital Infusion, Fully Capitalized for 2026 Growth Plan