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SemiCab Wins Expanded Contract with Kellanova India for Transportation Services in India

1. SemiCab India expands services with Kellanova India, boosting logistics capabilities. 2. The agreement positions SemiCab as a top 5 transport provider in India. 3. Kellanova India holds a significant 75% market share in breakfast cereals. 4. SemiCab's AI platform aims to reduce costs and enhance delivery efficiency. 5. CEO Ajesh Kapoor highlights growth potential from this collaboration.

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Why Bullish?

The expansion signifies growth and increased market share for RIME, similar to past winning bids leading to price surges.

How important is it?

This announcement could significantly influence RIME's revenue, market position, and investor interest, boosting stock performance.

Why Long Term?

The partnership is expected to drive sustained revenue growth, as seen with logistics contracts that have boosted earnings over multiple quarters.

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KCPBGIS
New Expansion Makes SemiCab a Top Five Provider of Transportation Services to Kellanova India Fort Lauderdale, FL, July 29, 2025 (GLOBE NEWSWIRE) -- Algorhythm Holdings, Inc. (“Algorhythm”) (NASDAQ: RIME) – an AI technology and consumer electronics holding company, today announced that its subsidiary, SMCB Solutions Private Limited (“SemiCab India”), has been awarded a large expansion to its Master Services Agreement with Kellanova India, one of the largest fast-moving consumer packaged goods producers in India. Under the terms of the services agreement, SemiCab India will provide managed transportation services to Kellanova India along the densely populated South-West-Central corridors in India. SemiCab’s managed services are powered by its AI-powered, cloud-based Collaborative Transportation Platform, which is designed to reduce service costs, improve delivery accuracy, and eliminate empty miles. Kellanova India is a subsidiary of Kellanova, a multinational food manufacturer that is home to iconic snacking brands including Pringles®, Cheez-It®, Pop-Tarts®, Rice Krispies Treats®, RXBAR®, Eggo®, MorningStar Farms®, Special K®, Coco Pops®, and more. Kellanova India offers many of Kellanova’s brands, with a particular focus on breakfast cereals and potato chips. Kellanova India holds a significant market share in the Indian breakfast cereal category, with some reports indicating as much as a 75% market share. SemiCab India won this new freight business under a competitive bidding process in Q1 2025 after initially providing its services to Kellanova India under a pilot program that initially launched in 2023. This new expanded service agreement would make SemiCab India a top 5 provider of transportation services to Kellanova India. Ajesh Kapoor, CEO of SemiCab Holdings, LLC, commented, “We are thrilled to partner with such a globally recognized brand as Kellanova. This collaboration opens the door to immense growth opportunities within one of the largest and most established companies in the industry. By leveraging our AI-powered platform, we are confident in our ability to drive meaningful cost efficiencies and delivery improvements for Kellanova 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 will drive for both of our businesses. About Kellanova Kellananova is a leader in global snacking, international cereal and noodles, and North America frozen foods with a legacy stretching back more than 100 years. Powered by differentiated brands including Pringles®, Cheez-It®, Pop-Tarts®, Rice Krispies Treats®, RXBAR®, Eggo®, MorningStar Farms®, Special K®, Coco Pops®, and more, Kellanova’s vision is to become the world’s best performing snacks-led powerhouse, unleashing the full potential of its differentiated brands and its passionate people. Its net sales for 2024 were approximately $13 billion. About Algorhythm Holdings Algorhythm Holdings, Inc. (NASDAQ: RIME) is an AI technology and consumer electronics holding company with two primary business units – SemiCab and Singing Machine. SemiCab is an emerging leader in the global logistics and distribution industry. Since 2020, SemiCab has enabled major retailers, brands and transportation providers to address these 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: http://www.semicab.com Singing Machine is the worldwide leader in consumer karaoke products. Based in Fort Lauderdale, Florida, and founded over forty years ago, it designs and distributes the industry's widest assortment of at-home and in-car karaoke entertainment products. Its product portfolio is marketed under both proprietary brands and popular licenses, including Carpool Karaoke and Sesame Street. Singing Machine products incorporate the latest technology and provide access to over 100,000 songs for streaming through its mobile app and select WiFi-capable products and is also developing the world’s first globally available, fully integrated in-car karaoke system. Its products are sold in over 25,000 locations worldwide, including Amazon, Costco, Sam’s Club, Target, and Walmart. For additional information, please go to www.singingmachine.com. Investor Relations Contact:investors@algoholdings.comwww.algoholdings.com Forward Looking StatementsThis 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.

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