Algorhythm Holdings secures $560mln deal with Indian electronics manufacturer Bajaj Electricals.

• Algorhythm Holdings signs $560mln master service agreement with Bajaj Electricals • Largest electronics manufacturer in India with $560mln annual sales • SemiCab Holdings to provide enterprise-level shipping services through AI-powered platform • Designed to reduce service costs, improve delivery accuracy, and eliminate empty miles.

Algorhythm Holdings, Inc. (NASDAQ: RIME), an AI technology holding company, has announced a significant milestone with the signing of a new master service agreement (MSA) with Bajaj Electricals, one of the largest electronics manufacturers in India. The agreement, valued at $560 million, is a testament to Algorhythm's growing influence in the global logistics and distribution industry.

Bajaj Electricals, based in Mumbai, is a subsidiary of the $100 billion Bajaj Group, with operations spanning 40 countries. The company is known for its diverse portfolio, including automotive, consumer electronics, iron and steel fabrication, insurance, travel, and finance. The new MSA will see Algorhythm's subsidiary, SemiCab Holdings, LLC, provide enterprise-level shipping services through its AI-powered software platform.

The AI-powered platform is designed to reduce service costs, improve delivery accuracy, and eliminate empty miles. SemiCab's CEO, Ajesh Kapoor, expressed excitement about the partnership, stating, "Launching this new relationship with Bajaj Electricals is a very positive accomplishment for SemiCab and Bajaj. We are particularly excited that this is one of our first new client mandates that does not require a pilot or proof of concept phase to the commercial relationship."

The contract, which launched during the third quarter, will cover multiple large metropolitan markets across India. This partnership marks a significant step for Algorhythm, as it is one of the first new clients that is not a member of the Indian National Digital Freight Exchange (NDFE). This move underscores Algorhythm's ability to expand its market reach and attract major clients in the fourth-largest economy in the world.

About Algorhythm Holdings
Algorhythm Holdings, Inc. is an 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, allowing shippers to pay less and carriers to make more without changing their operations.

About Bajaj Electricals
Founded in 1938 and based in Mumbai, Bajaj Electricals is a highly diversified consumer electrical appliance manufacturer. The company employs over 2,500 team members at 19 offices throughout India. Bajaj Electricals produces a wide range of residential, light commercial, and other daily electronics-based appliances, which are sold through partnerships totaling more than 400,000 retail locations. The company is publicly traded on both the Bombay Stock Exchange (BSE) and the National Stock Exchange of India (NSE).

References:
[1] https://www.globenewswire.com/news-release/2025/08/28/3140652/0/en/SemiCab-Wins-New-Commercial-Contract-with-Bajaj-Electricals.html