Algorhythm Holdings Announces Major SemiCab Contract Expansion with Apollo Tyres

Expanded Relationship Provides SemiCab With Capacity to Generate up to $2.5M of Revenue Annually From Apollo Tyres

Fort Lauderdale, FL, Jan. 06, 2026 (GLOBE NEWSWIRE) -- Algorhythm Holdings, Inc. (“Algorhythm”) (NASDAQ: RIME) – a leading AI technology company, today announced that SemiCab was recently awarded a large expansion to its Master Services Agreement with Apollo Tyres, Ltd. (“Apollo Tyres”), the second largest tire manufacturer in India with over $5 billion in annual sales and a top ten global competitor in the tire industry serving Asia, Africa, Europe and North America.

Under the terms of the expanded agreement, SemiCab will provide managed transportation services to Apollo Tyres along 20 densely populated lanes in India as well as provide higher overall frequency of loads shipped across the enlarged geographical footprint. The expanded relationship with Apollo Tyres has the capacity to generate as much as $2,500,000 of annual revenue for SemiCab. SemiCab originally launched its commercial pilot program with Apollo Tyres in September 2024.

SemiCab’s managed services are powered by its AI-enabled, cloud-based Collaborative Transportation Platform, which is designed to reduce service costs, improve delivery accuracy, and eliminate empty miles. The platform improves visibility into the entire transportation network by providing live tracking for every load. It can identify, create, and execute real-time collaboration opportunities between shippers and transporters – without altering business workflows. Additionally, the platform integrates with existing TMS systems for automated indenting, invoicing, and real-time shipment visibility, and utilizes platform bots for extracting information and automating repetitive tasks.

Ajesh Kapoor, CEO of SemiCab Holdings, LLC, commented, “We are pleased to be a partner to such a prestigious multi-national company like Apollo Tyres, which is a globally recognized leader in the tire industry. This new expansion of our existing relationship opens the door to immense growth opportunities for us. By leveraging our AI-powered platform, we are highly confident in our ability to drive significant cost efficiencies and delivery strong performance improvements for Apollo across much of India. This partnership represents a major step forward in our mission to revolutionize freight logistics in India, and we are excited about the growth it can drive for both of our businesses.”

About Algorhythm Holdings

Algorhythm Holdings, Inc. is a leading AI technology company focused on the growth and development of SemiCab, an emerging leader in the global logistics and distribution industry. Since 2020, SemiCab has enabled major retailers, brands and transportation providers to address common supply-chain problems globally. Its AI-enabled, cloud-based Collaborative Transportation Platform achieves the scalability required to predict and optimize millions of loads and hundreds of thousands of trucks. SemiCab uses real-time data from API-based load tendering and pre-built integrations with TMS and ELD partners to orchestrate collaboration across manufacturers, retailers, distributors, and their carriers. SemiCab uses AI/ML predictions and advanced predictive optimization models to enable fully loaded round trips. With SemiCab’s AI platform, shippers pay less and carriers make more without having to change a thing. For additional information, please go to: 

Investor Relations Contact

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Forward Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Any statement that is not historical in nature is a forward-looking statement and may be identified by the use of words and phrases such as "expects," "anticipates," "believes," "will," "will likely result," "will continue," "plans to," "potential," "promising," and similar expressions. These statements are based on management's current expectations and beliefs and are subject to a number of risks, uncertainties and assumptions that could cause actual results to differ materially from those described in the forward-looking statements, including the risk factors described from time to time in Algorhythm’s reports to the SEC, including, without limitation Algorhythm’s Annual Report on Form 10-K for the year ended December 31, 2024. You should not place undue reliance on any forward-looking statement, each of which applies only as of the date of this press release. Except as required by law, we undertake no obligation to update or revise publicly any of the forward-looking statements after the date of this press release to conform our statements to actual results or changed expectations, or as a result of new information, future events or otherwise.