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Freightos Acquires Shipsta, Expanding Comprehensive Digital Freight Procurement Solution

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Freightos (NASDAQ: CRGO) today announced the acquisition of Shipsta, a leading freight-tender procurement platform used by dozens of Global 1000 enterprises to procure freight at scale from leading freight forwarders and carriers. This transaction expands Freightos’ existing industry-leading spot pricing, quoting, and booking capabilities by adding tender procurement, thereby advancing Freightos’ vision of comprehensive freight digitization and meaningfully increasing its total addressable market, both in ocean and contract procurement. This acquisition accelerates Freightos’ growth, supports its financial goals of achieving positive Adjusted EBITDA by the end of 2026 with available funds, while strengthening its market position as a technology leader in the global freight industry.
Supply chain efficiency and agility have become critical in the aftermath of the COVID-19 pandemic and the ongoing Red Sea crisis. The combined Freightos-Shipsta offering will provide the most comprehensive modern platform for selling and procuring freight services, connecting carriers, freight forwarders, and importers/exporters on one unified digital booking platform.
Shipsta, headquartered in Luxembourg, supports the freight procurement of global companies by streamlining the tender management and procurement processes across air, ocean, road, and rail, enabling companies to easily solicit tenders from their freight forwarders and carriers. Shipsta technology serves dozens of multinational organizations across industries like retail, industrial, pharma, automotive and others, and counts market-leading customers in all of them, including Puma, Thyssenkrupp and Rockwool.
“The acquisition of Shipsta is a strategic milestone for Freightos, enabling us to advance our vision of digitizing the freight industry end-to-end,” said Zvi Schreiber, CEO of Freightos. “Shipsta’s platform, outstanding customer roster, and experienced team will add significant value to our offering by introducing tender management and contract procurement – a segment representing an estimated 50-70% of the total air and ocean freight market. The acquisition addresses the needs of our importers, exporters, forwarders and carriers that seek comprehensive solutions beyond spot freight bookings and sales and we think customers will love the joint offering. We’re also excited to welcome Shipsta’s outstanding talent into the Freightos team.”
This acquisition joins Shipsta’s product capabilities, customer base and team with the Freightos ecosystem, enhancing the overall Freightos offering and driving revenue growth with immediate cross-sell opportunities.
Shipsta’s team, led by Christian Wilhelm and Stefan Maratzki, will continue to lead Shipsta’s product development, innovation, customer success, and go-to-market strategy. As part of the acquisition, Shipsta’s current team will join Freightos, and parts of Shipsta’s roadmap will be accelerated to further enhance tender management, provide improved operational integrations and expand on market intelligence capabilities.
“Joining forces with Freightos marks a thrilling new chapter for Shipsta,” said Shipsta MD and founder Christian Wilhelm. “Shipsta and Freightos share a mission to bring global freight online. Now, our customers will continue to benefit from the outstanding Shipsta product and team, with service and efficiency further enhanced, while driving new efficiencies to the thousands of forwarders that leverage Freightos and WebCargo by Freightos. Together, we expect to accelerate market penetration, drive innovation, and set new industry standards in freight.”
The acquisition will be financed through a combination of cash and equity. The consideration includes a cash payment of approximately €4.5m from existing reserves and the issuance of approximately 640 thousand Freightos shares to a key Shipsta shareholder, subject to adjustment for working capital, and customary holdbacks. This investment reinforces the Company’s confidence in having adequate cash on hand to achieve positive cash flow. Shipsta is expected to contribute approximately $800 thousand to Freightos’ revenue during the last four months of 2024, with a moderate negative impact on Adjusted EBITDA. Revenue contribution in 2025 is expected to be between $4-5 million.
“We are pleased to meaningfully enhance our offering on favorable deal terms,” said Ran Shalev, Freightos CFO. “This acquisition provides us with immediate cross-selling opportunities for incremental growth while further aiding our path to positive Adjusted EBITDA by the end of 2026 without requiring additional capital. This acquisition strengthens our market position and positions us well for future growth and success.”
 
Forward-Looking Statements
This press release includes “forward-looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as “estimate,” “plan,” “project,” “forecast,” “intend,” “will,” “expect,” “anticipate,” “believe,” “seek,” “target” or other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These statements, which include the financial outlook of Freightos, are based on various assumptions, whether or not identified in this press release, and on the current expectations of Freightos, and are not predictions of actual performance. These forward-looking statements are not intended to serve as, and must not be relied on by any investor as, a guarantee, an assurance, a prediction or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. Many actual events and circumstances are beyond the control of Freightos. These forward-looking statements are subject to a number of risks and uncertainties, including Freightos’ ability to successfully integrate the Shipsta business without disruption to its business; the ongoing military conflict in the Middle East; Freightos’ ability to effectively execute its previously announced operational efficiency and cost reduction plan without undue disruption to its business; competition and the ability of Freightos to build and maintain relationships with carriers, freight forwarders and importers/exporters and retain its management and key employees; changes in applicable laws or regulations; any downturn or volatility in economic conditions whether related to inflation, armed conflict or otherwise; changes in the competitive environment affecting Freightos or its users, including Freightos’ ability to introduce new products or technologies; risks to Freightos’ ability to protect its intellectual property and avoid infringement by others, or claims of infringement against Freightos; and those additional factors discussed under the heading “Risk Factors” in Freightos’ annual report on Form 20-F filed with the SEC on March 21, 2024, and any other risk factors Freightos includes in any subsequent reports of foreign private issuer on Form 6-K furnished to the SEC. If any of these risks materializes or our assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. There may be additional risks of which Freightos is not aware presently or that Freightos currently believes are immaterial that could also cause actual results to differ from those contained in the forward-looking statements. In addition, forward-looking statements reflect Freightos’ expectations, plans or forecasts of future events and views as of the date of this press release. Freightos anticipates that subsequent events and developments will cause Freightos’ assessments to change. However, while Freightos may elect to update these forward-looking statements at some point in the future, Freightos specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing Freightos’ assessments as of any date subsequent to the date of this press release. Accordingly, undue reliance should not be placed upon the forward-looking statements.
The post Freightos Acquires Shipsta, Expanding Comprehensive Digital Freight Procurement Solution appeared first on HIPTHER Alerts.

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SUBBD and Luna PR Join Forces to Shape the Future of AI-Powered Content Creation

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 SUBBD, an AI-powered content creation platform designed to empower digital creators, is proud to announce its strategic partnership with Luna PR, a global marketing and communications agency specialising in web3 and emerging technologies. This collaboration aims to accelerate SUBBD’s mission of empowering digital creators by leveraging advanced AI and blockchain technology.
Luna PR will leverage its extensive web3 expertise to support SUBBD with comprehensive communications strategies, social media management, and targeted marketing campaigns. With a proven track record of over 600 successful projects since 2017 and a presence in four key global cities, Luna PR is uniquely positioned to elevate SUBBD’s brand presence and community engagement.
Maral Nouri, COO of Luna PR, stated: “As content creators ourselves, we understand the importance of staying ahead in today’s fast-paced digital landscape. Our partnership with SUBBD reflects this vision, empowering creators to effortlessly push boundaries and become trendsetters. SUBBD’s transformative platform equips creators with advanced AI tools to stay ahead of the curve, and we’re excited to support this evolution in content creation.”
Gabrielle Taylor, CEO of SUBBD, commented: “Partnering with Luna PR marks a significant step in our journey to transform the content creation industry. Luna PR’s expertise and strategic insights make them the ideal partner as we expand our platform and continue to support creators in maximising their potential through AI-powered solutions.”
SUBBD is transforming content creation with its AI-powered platform, designed to empower digital creators by enhancing autonomy, improving monetisation, and building deeper audience connections. By developing proprietary AI solutions, SUBBD is redefining how content is created, managed and monetised. With features like AI Personal Assistant, AI-driven content creation, blockchain security, and advanced analytics, SUBBD is pushing boundaries to help creators maximise their potential in the digital creator economy.
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[2024 Pujiang Innovation Forum] Highlights of WeStart2024

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As an integral part of the 17th Pujiang Innovation Forum, WeStart2024 was held at Dongjiao State Guest Hotel and Zhangjiang Science Hall, Shanghai from September 7 to 10. Under the theme of “Refactoring & Renewal”, this year’s conference focused on sci-tech entrepreneurship and investment, aiming to create a global entrepreneurship investment platform that bridges projects with capital. This platform leverages capital to bolster sci-tech innovation and economic transformation. The four-day event boasted two main forums, one symposium, 13 roadshow marathons, and multiple industry sharing sessions. Renowned investment agencies like CICC, Zero2IPO, and Shenzhen Capital Group were invited to delve into the innovative investment landscape, exploring avenues for global collaboration, building a new paradigm of entrepreneurship investment, and stimulating new drivers to sci-tech innovation.
Let’s review the highlights.
Shanghai has been fortifying its position as a global sci-tech innovation center by intensifying element concentration, enhancing functions and services, and cultivating a comprehensive sci-tech ecosystem. This has turned Shanghai into a heaven for entrepreneurship and a magnet for investment. WeStart2024 brought together government bodies, experts, scholars, venture firms at home and abroad, sci-tech businesses, and nearly 1,000 audience professionals to discuss entrepreneurship investment and create an ecosystem for sci-tech innovation together through diverse sci-tech innovation stakeholders, transforming this ecosystem from a strategic blueprint into reality.
On September 8, WeStart2024 kicked off with main forums, featuring 13 keynote speeches and two roundtable dialogues. Key sci-tech finance terms such as “patient capital”, “fundraising, investment, management and exit”, “investment in early-stage, small, long-term and hard technologies”, “angel investment”, and “high-quality development of the capital market” were frequently mentioned, becoming the focal point of discussions and highlighting the future development of sci-tech finance. The roundtable dialogues unveiled the latest sci-tech investment opportunities and delved into trends, current statuses, and strategies of sci-tech entrepreneurship investment amidst new situations and transformative environments.
The exhibition hall housed a Start-ups Exhibition Zone, showcasing nearly 20 TOP100 roadshow projects and products and the investment ecosystems and achievements of three to five leading venture firms through the linkage of the Entrepreneur Joint Exhibition Zone, the Investment Institution Zone, and the One-to-One Negotiation Zone. There were boards briefing on typical sci-tech businesses in the fields of biomedicine and AI. Social scenes for entrepreneurship investment were also offered to facilitate direct communication between projects and investors.
WeStartTOP100, a new addition to the Startup in Shanghai International Innovation and Entrepreneurship Competition, was launched in June. It selected 100 projects from over 2,000 global entries for on-site roadshows during the conference. The four-day event featured 13 marathon project roadshows with over 100 projects, focusing on six key areas: three in hard tech—biomedicine, artificial intelligence, and advanced manufacturing—and three in future industries—future information, future materials, and future energy.
A special roadshow for universities was also held, where Shanghai-based universities, including Shanghai Jiao Tong University, ShanghaiTech University, University of Shanghai for Science and Technology, Shanghai University of Engineering Science, Shanghai Ocean University, East China Normal University, Shanghai University, and Shanghai Polytechnic University, displayed high-quality research projects. Focusing on exchanges and investment and financing matchmaking in cutting-edge interdisciplinary areas and core technologies in key fields, this roadshow further propelled the commercialization of S&T outcomes in universities. The special roadshow for Hong Kong University of Science and Technology introduced top-notch innovative projects from Hong Kong universities to Shanghai, fostering a new chapter for sci-tech cooperation between the two cities.
In particular, the conference prioritized global vision and international cooperation. During the international roadshow, high-quality projects from countries and regions like France, Germany, Hungary, Zimbabwe, and Morocco, as well as Hong Kong (China), were selected to compete. This facilitated interaction between domestic and foreign entrepreneurship investment resources and explored new paths for global collaboration. A 365-day “never-ending” global entrepreneurship investment cooperation and matchmaking mechanism was established to effectively link international sci-tech innovation talent, technology, capital, and market, empowering the sound development of sci-tech entrepreneurship investment.
Furthermore, the conference collaborated with leading players in entrepreneurship investment, Shanghai State-owned Capital Investment Co., Ltd. and CICC Capital, to open special roadshows. Leveraging the expertise and resources of investment agencies, these roadshows directly linked both sides of entrepreneurship investment, working with numerous sci-tech players on-site to explore high-quality projects and fully support entrepreneurs.
The post [2024 Pujiang Innovation Forum] Highlights of WeStart2024 appeared first on HIPTHER Alerts.

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Tata Electronics and Tokyo Electron Limited (TEL) Announce Strategic Partnership to Grow Semiconductor Ecosystem in India

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Tata Electronics today signed a memorandum of understanding with Tokyo Electron Limited (TEL), a leading global supplier of semiconductor equipment and services. The two companies will collaborate to accelerate semiconductor equipment infrastructure for India’s first Fab being built by Tata Electronics in Dholera, Gujarat, and for its assembly and test facility in Jagiroad, Assam.
Through this partnership, Tata Electronics and TEL will also focus on training Tata Electronics’ workforce on TEL equipment and supporting ongoing improvement and R&D initiatives. This collaboration will leverage the strengths of both companies to establish a robust semiconductor manufacturing ecosystem in India.
As previously announced, Tata Electronics is building India’s first Fab in Dholera, Gujarat, with a total investment of INR 91,000 crores (~US$11bn). In addition, another INR 27,000 crores (~US$3bn) will be invested in a greenfield facility in Jagiroad, Assam, for the assembly and testing of semiconductor chips. Together, these facilities will produce semiconductor chips for applications across automotive, mobile devices, artificial intelligence (AI), and other key segments to serve customers globally. As the construction of these facilities progresses, it is critical to grow partnerships across the entire semiconductor ecosystem, spanning process and design technology, as well as equipment suppliers. With this announcement of the partnership with TEL, Tata Electronics has solidified a critical pillar to achieve its execution targets.
Dr Randhir Thakur, Managing Director & CEO, Tata Electronics, said, “We have a bold vision of becoming a leader in electronics manufacturing by offering integrated solutions across the value chain to our global customers. TEL has a history of working closely with its customers, and its expertise in the semiconductor equipment space will help build a dynamic ecosystem to support the timely execution of bringing up our Fab and advanced packaging factories. We are excited about the customer centricity that TEL brings to this partnership.”
Toshiki Kawai, President & CEO of Tokyo Electron Limited, emphasised, “We are delighted to announce our partnership with Tata Electronics, which brings together our combined expertise and resources to strengthen the semiconductor ecosystem in India significantly. This strategic collaboration spans both front-end fabrication and back-end packaging technologies, highlighting our commitment to delivering exceptional support and value to Tata Electronics. By leveraging our collective strengths, we aim to accelerate development and drive innovation across multiple technology nodes. Together, we are poised to set new benchmarks in the industry, fostering a robust and dynamic semiconductor landscape that will benefit all stakeholders.”
TEL is committed to supporting the Indian semiconductor ecosystem. Both the front-end and back-end product groups will provide resources and technology support to bring advanced TEL products to the Indian market. TEL will lead this effort by also offering diversified products for the MAGIC market (MAGIC—Metaverse, Autonomous Mobility, Green Energy, IoT & Information, Communications). TEL will actively explore opportunities to leverage India’s talent to establish an engineering service in India to support its global product development.
The post Tata Electronics and Tokyo Electron Limited (TEL) Announce Strategic Partnership to Grow Semiconductor Ecosystem in India appeared first on HIPTHER Alerts.

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