AI-Powered Freight Platform to Support Onida's Logistics Operations Across India

Fort Lauderdale, FL, May 26, 2026 (GLOBE NEWSWIRE) -- Algorhythm Holdings, Inc. ("Algorhythm") (NASDAQ: RIME), a leading provider of AI-powered logistics solutions, today announced that its subsidiary SMCB Solutions Private Ltd. ("SemiCab") has signed a new master service agreement (MSA) with MIRC Electronics Ltd. ("Onida Electronics"), an Indian multinational electronics and home appliances manufacturing company that is one of India's most recognized consumer electronics brands.

Through this agreement, Onida will be able to leverage SemiCab's technology-enabled freight network across key domestic transportation lanes in India. SemiCab's growing freight network is designed to improve truck utilization, reduce empty miles, and create more efficient transportation outcomes for all shippers and carriers on the platform. The agreement marks a significant expansion of SemiCab's footprint in India and reflects growing industry demand for AI-powered freight optimization.

"With surging diesel prices, shippers are under increasing pressure to control logistics costs while maintaining service levels," said Gary Atkinson, CEO of Algorhythm Holdings. "SemiCab's platform helps solve both by using AI to orchestrate freight networks more intelligently, reducing waste and improving efficiency across complex supply chains."

Onida joins a growing roster of enterprise brands that have partnered with SemiCab to streamline their truckload operations and reduce logistics costs. The expansion reflects SemiCab's continued momentum in India, where the company has recent entered into several contract expansions with enterprise customers and has demonstrated strong year-over-year revenue growth.

With the addition of Onida, SemiCab now actively works with 15 enterprise customers across India.

About Algorhythm Holdings

Algorhythm Holdings, Inc. is a leading AI technology company focused on the growth and development of its subsidiary, SemiCab Holdings, 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: http://www.semicab.com.

Investor Relations Contact

Brendan Hopkins

407-645-5295

investors@algoholdings.com

www.algoholdings.com

Media Contact

FischTank PR

Algorhythm@fischtankpr.com

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 contained in the company's Annual Report on Form 10-K for the year ended December 31, 2025 and the other reports the company has filed with the SEC. 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 these 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.

Algorhythm Holdings Announces New Master Services Agreement with Onida Electronics