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Rider takes off with $3.1M seed round to courier Pakistan businesses in to 21st century

Rider

Rider, Pakistan’s first ever logistics start-up to be backed by YC, is building modern logistics for online sellers across the country. In doing so, the start-up has attracted the attention of investors and is today announcing a $3.1M funding with participation from YCombinator and new investors i2i Ventures, Flexport, Soma Capital and Rebel Fund. Existing investors Global Founders Capital, Fatima Gobi Ventures (FGV) and TPL E-ventures also joined the round which included notable angel Arash Ferdowsi (Dropbox Co-Founder). With this seed round, Rider has now raised a total of $5.4m since September 2021. Founded in 2019, Rider has been building a network of sorting hubs, urban delivery centers and a digitized fleet, offering online sellers in Pakistan a next-day ‘Amazon-like’ delivery service. The Rider platform offers route optimisation for delivery agents, live tracking and scheduling for buyers, and a highly digitized warehousing function for sellers. Rider is led by Salman Allana, a former UPS Pakistan exec and the core team consists of former Alibaba, Delivery Hero and Jumo executives. Since their pre-seed investment round in September 2021, monthly revenues have grown 110% and they have doubled the customer base to 650 online sellers. Rider has now successfully completed the delivery of over 3M parcels across 60 cities in Pakistan. Salman Allana, founder and CEO of Rider commented: “We set up Rider because we knew the traditional courier companies in Pakistan were not set up to service the e-commerce market and were failing to capture the online buying trend. The problem is huge, circa $1bn GMV is lost annually due to failed and slow deliveries, but the opportunity is even bigger than that - Pakistan is the 5th most populous country in the world with 70% smart phone enablement yet only 3% of retail sales are currently made online. We’re really excited about the market potential and the impact Rider is already having in supporting business growth across the country.” Rider has plans to enhance the ecommerce marketplace in Pakistan with solutions and infrastructure beyond logistics. Salman Allana added: “Retail is north of a $150B industry. Yet it is stuck in bricks and mortar. Through our platform, one mile at a time, we are enabling the industry to transform and get online and we will offer more in time to come. Moreover, we are opening the industry to more participants and changing the face of it. We are fully behind the mission to enable more than 1 million - primarily female-owned - Instagram/Facebook sellers to trade.” “Pakistan’s payment infrastructure is chasing the growth of ecommerce and logistics capabilities. Well over 95% of all ecommerce orders are cash-on-delivery (COD) which creates operational challenges for last mile and retailers. Rider is addressing this piece of the puzzle with our payment wallet through which we can reconcile work quickly and ensure sellers are reimbursed within hours”. On joining the investment round Kalsoom Lakhani, GP i2i Ventures said: "We are honored to be on this journey with Rider. As the e-commerce industry in Pakistan grows, so will the need for a next generation 3PL player that understands the Pakistani market realities and knows how to build both aggressively but also efficiently. We believe that this player is Rider and have so much conviction in Salman and his vision." Meanwhile, new investor Jared Heyman, Managing Partner, Rebel Fund commented: “Rider is Rebel Fund’s first investment in Pakistan and we’re excited to support their further growth. The company’s founding team and traction to date are impressive, and we believe the Pakistan market desperately needs a sophisticated technology-driven delivery service like Rider.” FGV’s General Partner Ali Mukhtar commented: “There is strong momentum in the ecommerce space in Pakistan, largely driven by the shift in consumer behavior with the increase in 3G/4G penetration across the country. With that, there is immense growth potential for last-mile champions such as Rider who are building the required infrastructure to enable growth in the ecommerce space. We believe in the Company’s tech-first approach and we’re excited to once again support Salman and his team at Rider.” Willem van den Bosch, Investor at SOMA Capital remarked: “We think Rider is uniquely positioned to capitalize on the expansion of eCommerce in Pakistan. Rider's core tech-forward product offering fixes legacy pitfalls that exist in the last-mile fulfillment market today - Rider's B2B2C offering fixes issues with delivery failures, lateness, and broken communication which have hampered expansion of eCommerce previously. We're extremely supportive of the Rider team's ability to execute and expand deeper into the full logistics product stack and continuing to enable eCommerce fulfillment in Pakistan and beyond” About Rider Founded in Karachi in 2019, Rider is a B2B2C service that delivers e-commerce products from online stores and marketplaces to the customers’ doorstep. Operational innovation is core to the team’s mission. Rider exists to continuously reimagine, redesign and rebuild operations that work for emerging markets. For more information please visit https://withrider.com/ or follow the company on: Twitter, LinkedIn, Facebook or Instagram. Contact Details Bilal Mahmood +44 7714 007257 b.mahmood@stockwoodstrategy.com Company Website https://withrider.com/

June 20, 2022 09:00 AM Eastern Daylight Time

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Summer Dating Tips from an Expert

YourUpdateTV

According to a recent survey conducted by Bumble, more than one-third of respondents in the U.S. say they are more open to exploring a relationship with someone who lives in another city. Recently, Sex & Relationships Expert at Bumble, Shan Boodram, participated in a nationwide satellite media tour to discuss her top tips for finding a date this summer and advice on optimizing your dating profile. A video accompanying this announcement is available here: https://youtu.be/T7jBcsH4Mbs Travel is expected to be at an all-time high with vacations and weddings in full swing, which means the perfect opportunity for a summer romance in a new city or country. Dating apps like Bumble, the women-first dating and social networking app, can help you find new people you may be interested in – or at the very least, help you meet some new friends. “We’re excited to see all of the connections that will be made this summer, both abroad and at home, especially as we’re seeing a natural progression and eagerness for folks to meet in person again,” said Shan Boodram, Bumble’s Sex and Relationships Expert. “Though dating while traveling can just be a fun summer fling, we also found in a recent survey that more than one-third of respondents in the U.S. say they are more open to exploring a relationship with someone who lives in another city, so we encourage you to get out there, no matter where you may be!” Here are tips on dating while traveling, just in time for a summer of fun – and maybe even love. Plan ahead and save time: If you want to make the most out of your dating experience, lean into dating app features that may help you get a sneak preview of who you can connect with - before your trip. For example, Bumble offers a Travel Mode, which allows you to change your location to a new city so you can look for local connections before your arrival. Be open-minded: Just like you might be more open to trying a new food or activity when on vacation, apply that same attitude to meeting new people while abroad. If you meet someone who isn’t necessarily your type, don’t immediately dismiss them. Try to have an exploratory mindset and be willing to meet someone different. Update your bio: Every time you travel to a new city or country, updating your dating app bio can be a helpful way to attract the people and experiences you’re seeking. This can include the languages you speak, how long you’ll be in town, and even asking a question about the best local spot in the city. Ending on a question or an itinerary point on your travel list makes for easy conversation starters. Remember that you can change your radius to see people who are between 1-50 miles from you, too! Hop on a video call before meeting: Many online dating platforms provide secure and safe ways for people to connect. In turn, singles everywhere are getting creative, figuring out how to learn more about each other before meeting. On Bumble, you can make voice and video calls directly in the app, so you can speak to your date without sharing any personal information, like a phone number or email address. This can also help check if your new match is someone you want to spend time with on your vacation. Schedule a date as soon as possible: The time it takes to slowly build a connection is a luxury you don’t always have when traveling. Once you connect with someone you’re interested in and feel comfortable and confident with meeting them in person, don’t be shy about suggesting the first date or respectfully following up on a conversation. Also, don't be afraid to invite this person into your existing plans! People love to delight in their own city and you'd also be surprised at how many people haven't been tourists in their own town. Take charge when choosing the location: Being in charge of choosing your date location is a simple but effective way to feel safe when dating abroad. Ensure that your first date spot is somewhere in an open and public space, and suggest a daytime date for a first meeting, or if you're traveling with friends, invite them to join the group and bring friends too! Before going out and meeting someone new, let a trusted contact know where you're going, such as your rental home host, the hotel concierge, or a friend, and set time to text or check in with them every so often. If you’re on the date and feel like it’s not for you, pre-plan a natural exit strategy for yourself because if you feel uneasy at any point, it’s important that you trust your gut and put yourself first. Always feel like you can enlist the help of a bartender or server if needed and ensure that you’re familiar with local emergency contact numbers, too. For more data-driven tips, expert advice, and resources to help guide your dating journey this summer, visit bumble.com/the-buzz. The app is free and available worldwide within the App Store and Google Play. About Shan Boodram, Bumble's Sex & Relationships Expert: Shan Boodram is a certified sex educator and intimacy expert. Boodram is host of the top podcast, "Lovers and Friends," the best-selling author of “The Game of Desire,” resident expert on Netflix's “Too Hot to Handle,” and currently stars in Peacock’s new show “Ex-Rated with Andy Cohen". She is an ambassador for AIDS Healthcare Foundation and WomensHealth.gov, and a member of the American Sexual Health Association. About Bumble: Bumble, the women-first dating and social networking app, was founded by CEO Whitney Wolfe Herd in 2014. Bumble connects people across dating (Bumble Date), friendship (Bumble BFF) and professional networking (Bumble Bizz). No matter the type of relationship, women make the first move on Bumble. Bumble is built on the importance of equitable relationships and how crucial they are to a healthy, happy life. They've built their platform around kindness, respect, and equality – and their community plays an important part in that. Bumble holds its users accountable for their actions and has zero tolerance for hate, aggression, or bullying. Bumble is free and available worldwide in the App Store and Google Play. Contact Details YourUpdateTV +1 212-736-2727 yourupdatetv@gmail.com

June 17, 2022 09:00 AM Eastern Daylight Time

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Long-Time Indianapolis Fruit Leader Stepping Back

FreshEdge

Indianapolis Fruit, a member of the FreshEdge family of produce and specialty food companies shares that, effective July 4, 2022, John Cunningham will transition from COO of Indianapolis Fruit to Distribution and Retail Advisor. He will focus on deepening customer relationships, mentoring and developing the evolving executive team, and advising on strategic initiatives. “We’re excited for John to continue positively impacting our team and our customers’ business. He has a tremendous track record of elevating performance,” said Daniel Corsaro, President of Indianapolis Fruit Company. “John has been a great member of our family and has been critical to our growth and development! We are very grateful for everything he has done and look forward to the insight and great things that he will accomplish with our evolving leaders,” said Greg Corsaro, President and COO of FreshEdge, LLC, the parent company of Indianapolis Fruit. “I’m excited to announce that after 40 plus years in the produce industry and 19 with Indianapolis Fruit and the FreshEdge Team, I’ve decided to step back. I’m looking forward to enjoying my personal and professional life at a different pace. I’m eager to continue to work with Daniel Corsaro and our team to enhance our retail merchandising and education programs,” said John Cunningham, Indianapolis Fruit Company. Indianapolis Fruit will continue to be led by Daniel Corsaro, President, and the existing executive team. As part of this transition, Ross Nelson will transition from Vice President of Retail Execution to Vice President of Procurement. About Indianapolis Fruit Indianapolis Fruit, a FreshEdge company, distributes fresh produce, value-added, specialty foods, and floral to retail grocers in 20 states across the Midwest, central, and southeastern areas of the United States. Offering more than 3,500 available skus, 500 plus organic items, and a full-service fresh cut division, Indianapolis Fruit continues to deliver on what consumers want. For more information, visit www.indyfruit.com Contact Details Indianapolis Fruit Company Daniel Corsaro, President +1 317-981-3442 dccorsaro@indyfruit.com Company Website https://indyfruit.com/

June 14, 2022 10:44 AM Eastern Daylight Time

Shareholder to GM: Disclose Child Slave Labor in Your EV Supply Chain

National Legal & Policy Center

Today, Paul Chesser, Director of the National Legal and Policy Center’s (NLPC) Corporate Integrity Project, presented remarks at General Motors Company’s annual meeting to support a shareholder resolution the ethics group filed with the company. The proposal would have required the report to shareholders the degree to which its business – which has become heavily dependent on rare earth metals mining for its electric vehicle production – is dependent on child slave labor. The full text of Chesser’s remarks are below: I’m Paul Chesser, director of the Corporate Integrity Project for National Legal and Policy Center. I, and my organization, have questioned the wisdom of General Motors’ aggressive pursuit of electric vehicles since the early 2010s, when Chevrolet introduced the nonviable, electric Volt. Even with the benefit of millions of dollars in taxpayer subsidies, Chevy could not make the Volt popular. Now there is renewed fanaticism for electric vehicles from corporate management, the corporate media, and the failed Biden administration. But EVs are no more viable now than they were ten years ago, despite the appearance. The only reason they have incrementally gained any popularity is because of the Biden administration’s attacks on the oil and gas industry. Any product can gain popularity when the government inflicts blow after blow against its primary competition. As a viral video from ten years ago stated, “If I wanted America to fail…I’d make cheap energy expensive, so that expensive energy would seem cheap.” Government is also making this happen by delivering millions of dollars in subsidies for EV charging infrastructure and battery manufacturing, among other market distortions. Americans are furious with this policy, especially every time they refill at the gas pump. Whether you acknowledge it or not, GM is complicit in this disastrous policy that this unpopular administration dismisses as an energy “transition.” You know, the way they dismissed our current inflation woes as “transitory” just a few months ago? Just as the administration and the Fed missed the obvious telltale signs of a longer-term problem, so also is GM’s leadership missing the big picture on EVs, in exchange for a short-term benefit, which will come at the expense of shareholders. Almost certainly you will see a very different-looking, less EV-friendly Congress come November. In fact, you will likely see great hostility towards this so-called energy “transition.” GM may get away with some minimal benefit now, but what you may gain in short-term market share, your propaganda will lose long-term. For example, regarding our shareholder resolution, GM loses the moral high ground on EVs because their components are heavily dependent on metals mined in Third-World countries, many of which are owned or controlled by the communist Chinese, who are among the worst abusers of human rights. Our resolution seeks transparency about GM’s supply chain for eliminating the possibility that child labor is used in mining these metals that are needed for EVs. GM’s response in the proxy is less-than-assuring, by citing things like “codes of conduct,” “statements,” “policies,” and “standards” that suppliers are allegedly required to sign on to. Sorry, but hiding behind bureaucratic jargon is no substitute for first-hand scrutiny and accountability about your supply chain. We urge shareholders to vote for GM to produce more meaningful and transparent information about how its vulnerable supply chain operates. END REMARKS “General Motors, in its aggressive pursuit to mass produce electric vehicles in order to surpass Tesla, has both a human rights problem and a China problem,” Chesser explained. “The company hides behind platitudes and claims that its suppliers must sign ‘promises’ to not use child slave labor in its metals mining, but those are no substitute for direct scrutiny and verification. GM must be more transparent about its supply chain vulnerabilities if it is going to pursue this economically questionable product line.” NLPC has filed more than two dozen shareholder resolutions this proxy season, and appeared at the annual meetings of Berkshire Hathaway, Disney, Coca-Cola, Amazon, Twitter, Meta, and many others. ### Please visit http://www.nlpc.org. Founded in 1991, NLPC promotes ethics in public life and government accountability through research, investigation, education, and legal action. Contact Details National Legal and Policy Center Dan Rene +1 202-329-8357 drene@nlpc.org Company Website http://www.nlpc.org

June 13, 2022 03:59 PM Eastern Daylight Time

Volatus Aerospace expands Latin American presence through Joint Venture

Volatus Aerospace Corp.

Volatus Aerospace Corp. (TSXV: VOL) (OTCQB: VLTTF) ("Volatus" or "the Company") announces a joint venture with EOLO Drones S.A.C. ("EOLO") signed on June 2, 2022. The business will be called Volatus Aerospace LATAM and will expand Volatus' commercial operations in Latin America. Under the terms of the agreement, which includes commercial activities for both civil and governmental entities, Volatus Aerospace holds 75% equity, with EOLO holding the remaining 25%. “Latin America is a vast, emerging market with exciting opportunities for drones in sectors such as mining, infrastructure, renewable energy, and agriculture,” said Luc Masse, Executive Vice President of Volatus. “Success in this region requires an understanding of language, culture, and local legislation. Volatus Aerospace LATAM will represent our brand throughout South America and execute our expansion using a strategy adapted specifically to these markets.” "Canada’s largest defence and security trade show, CANSEC, was a tremendous success for Volatus. Given the number of international delegations, it seemed appropriate to sign our joint venture with EOLO at the conference," said Glen Lynch, Volatus CEO. "Our business has expanded in Latin America, and it’s an important market for us. We are looking forward to attending Peru's inaugural drone conference this year, and I'm grateful for the personal invitation we received from Lieutenant-General Carlos Chávez Cateriano, Chief of Staff for the Peruvian Air Force." Bruno Leoni, CEO of EOLO, stated: "I am proud that we have elevated our partnership to expand our services and products across Latin America. We look forward to identifying opportunities in the market and leading the expansion. I would like to thank Volatus for making us welcome at CANSEC and choosing us to be their South American partners." About Volatus Aerospace: Volatus Aerospace Corp. is a leading provider of integrated drone solutions throughout Canada, the United States, and Latin America. Operating a vast pilot network, Volatus serves commercial and defense markets with imaging and inspection, security and surveillance, equipment sales and support, training, and design, manufacturing, and R&D. Through its subsidiary Volatus Aviation, Volatus carries on the business of aircraft management, charter sales, and cargo services using piloted, remotely piloted, and autonomous aircraft. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this release. Forward-Looking Statement This news release contains statements that constitute “forward-looking information” within the meaning of applicable securities laws, including statements regarding the plans, intentions, beliefs and current expectations of the Corporation with respect to future business activities and operating performance. Often, but not always, forward-looking information can be identified by the use of words such as “plans”, “expects”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, or “believes” or variations (including negative variations) of such words and phrases, or statements formed in the future tense or indicating that certain actions, events or results “may”, “could”, “would”, “might” or “will” (or other variations of the foregoing) be taken, occur, be achieved, or come to pass. Forward-looking information includes information regarding (i) the business plans and expectations of the Corporation; and (ii) expectations for other economic, business, and/or competitive factors. Forward-looking information is based on currently available competitive, financial and economic data and operating plans, strategies or beliefs as of the date of this news release, but involve known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, performance or achievements of the Corporation to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Such factors may be based on information currently available to the Corporation, including information obtained from third-party industry analysts and other third-party sources, and are based on management’s current expectations or beliefs. Any and all forward-looking information contained in this news release is expressly qualified by this cautionary statement. Investors are cautioned that forward-looking information is not based on historical facts but instead reflects expectations, estimates or projections concerning future results or events based on the opinions, assumptions and estimates of management considered reasonable at the date the statements are made. Forward-looking information reflects the Corporation’s current beliefs and is based on information currently available to it and on assumptions it believes to be not unreasonable in light of all of the circumstances. In some instances, material factors or assumptions are discussed in this news release in connection with statements containing forward-looking information. Such material factors and assumptions include, but are not limited to: the impact of the COVID-19 pandemic on the Corporation; meeting the continued listing requirements of the TSXV; and anticipated and unanticipated costs and other factors referenced in this news release and the Circular, including, but not limited to, those set forth in the Circular under the caption “Risk Factors”. Although the Corporation has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. The forward-looking information contained herein is made as of the date of this news release and, other than as required by law, the Corporation disclaims any obligation to update any forward-looking information, whether as a result of new information, future events or results or otherwise. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. Source: Volatus Aerospace Corp. TSXV: VOL Contact Details Volatus Aerospace Corp. Rob Walker +1 514-447-7986 rob.walker@volatusaerospace.com Company Website https://volatusaerospace.com

June 08, 2022 07:46 AM Eastern Daylight Time

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Minuteman Press Franchise Owner Ken Tays Receives Veteran Business Award from NJ State Veterans Chamber of Commerce and The American Legion

Minuteman Press International Inc

US Army Veteran Ken Tays, who owns the Minuteman Press franchise in Newark located at 20 Clinton St., was recognized with the award for Veteran Business under $3 Million by the NJ State Veterans Chamber of Commerce (NJSVCC) and The American Legion at the Disabled Veteran and Veteran Business Summit. The event was held on May 10 th, 2022 at Middlesex College in Edison. The Summit connected over 100 Veteran-owned businesses with private companies and state agencies to help facilitate partnerships on upcoming projects. Ken says, “It was a real honor to attend the Summit, connect with so many other Veterans and supporters of Veterans, and receive such a prestigious award from the New Jersey State Veterans Chamber and The American Legion. My business, Minuteman Press in Newark, is a small, Veteran-owned franchise, and an event like this is really helpful and inspiring to me.” Ken served in the US Army for 11 years and then earned his degree in financial services. Ken shares, “I worked as a Federal Bank Regulator for 12 years and then entered the private sector working for companies like PwC and Citibank. I decided to research franchise opportunities because I wanted to be my own boss.” In 2019, Ken bought Minuteman Press in Newark. He took over the successful business from Holly Kaplansky, who retired after owning and operating Minuteman Press in Newark for 15 years. Ken says, “At its core, Minuteman Press International is a family-owned business. I went out to Long Island and CEO Bob Titus talked to me for an hour and a half. I was looking for a printing franchise that had that family-like atmosphere and wasn’t so corporate. The other franchises I looked into just didn’t have that same feel to them where I felt comfortable like I did with Minuteman Press.” As for why Minuteman Press is the right fit for Veterans, Ken shares, “I feel like this is my business and yet Minuteman Press provides me with that security blanket of local support and guidance. I have no printing experience and the training and ongoing assistance from Jim Galasso and the local field staff here in Newark really helps me. I know I can contact anyone in the company and they will respond and be there without breathing down my neck all the time.” When asked about the rewards of owning his own business, Ken’s first inclination is to say, “Work life balance. That is something I feel like I have even though I am working hard and always on. I love the challenge of running my own business and being responsible for everything. I spent a lot of time in corporate America making money for other people and I wanted to do this. There are ups and downs but it’s on my time.” Ken’s advice for others who are looking into business ownership or franchising is, “I would say that I looked at a lot of businesses. Find something that is a good fit for you, and find a franchisor that has what you’re looking for. I spent several months doing my due diligence, and once you make that decision, you have to be committed.” For more information on Ken Tays’ Veteran-owned Minuteman Press business in Newark, NJ, visit https://www.mmpnewark.com. Learn more about #1 rated Minuteman Press franchise opportunities at https://minutemanpressfranchise.com. Contact Details Chris Biscuiti +1 631-249-1370 cbiscuiti@mpihq.com Company Website https://minutemanpressfranchise.com

June 07, 2022 10:00 AM Eastern Daylight Time

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ThreatModeler Announces New Patent for IaC-Assist

ThreatModeler Software, Inc

ThreatModeler, a leader in securing cloud infrastructure from design to deployment, today announced the issuance of their newest patent, which makes the IaC-Assist a proprietary technology. The patent, US Patent No. 20220004645A1, has been issued and granted as of April 26, 2022. With IaC-Assist, any user can truly shift left as it relates to implementing security within the code. Users can identify, review, and mitigate security flaws while writing the code in real-time - with simply the click of a button and without leaving their coding environment. IaC-Assist creates a more time and cost-efficient solution to the build process, saving developers the hours it would have taken to build designs and review its security. “Our patented solution, IaC-Assist, reduces threat drift from code to cloud and gives users a simple and efficient solution in truly shifting left,” said Archie Agarwal, Founder and CEO, ThreatModeler. “This patented technology is the only solution in the industry that helps you build threat models from your IDE itself and updates the threat model as you update the code. We’re excited to have these streamlined capabilities patented and available to users.” This patented technology solution is the first of its kind that helps to reduce threats from code to cloud. Users can implement the technology as a processor-executed method of generating a threat model from a code file. The system can analyze the code file, identify properties associated with the resources included in the code file, and generate a threat model based on the resources determined as a security threat. This technology addresses industry pain points by giving tools for security teams to work more collaboratively with the development organizations. Additionally, instead of adding more steps to the build and deploy process, this technology fits within the existing process and enables developers to build security within the code with the least amount of time lost. To learn more about this new patent and ThreatModeler technology, please visit here. About ThreatModeler Software, Inc. ThreatModeler Software, Inc. 's suite of products empowers DevOps to measure their threat drift from code to cloud. With a fraction of the time and cost tied to other tools, users can design, build and validate threat drift from development to deployment. Teams can instantly visualize their attack surface, understand security requirements and prioritize steps to mitigate threats. CISOs can make critical security-driven business decisions to scale their infrastructure for growth. Contact Details Clayton Murtle ThreatModeler@luminapr.com

June 07, 2022 08:00 AM Eastern Daylight Time

CargoX Blockchain Technology Takes Flight in Egypt

CargoX

LJUBLJANA, SLOVENIA - (June 06, 2022) - CargoX, the leading company specializing in the digital transfer of trade documents, extends its business engagement with the Egyptian government by providing advanced Blockchain Document Transfer (BDT) services as a core component of the Advance Cargo Information (ACI) system implementation for airborne cargo. The Advance Cargo Information (ACI) system aims at providing business intelligence and governance mechanisms to the government before cargo loading from ports of export, facilitating cargo clearance procedures, creating transparency and audit trail for cargo movements within a paperless ecosystem by digitizing shipment documents transfer using CargoX BDT services. The ACI system is a core component of Egypt’s national single-window platform for international trade (NAFEZA) that is operated by the Public-Private-Partnership company Misr Technology Services (MTS). “The NAFEZA single window platform for digitalization of ocean-freight trade document transfers between Egypt and companies worldwide is an unprecedented success. It is used by more than 90,000 companies and entities worldwide, and we continue building this momentum by adding air cargo documentation processing. This will bring the number of points of entries to 30 – including airports, seaports, dry ports, border posts, free zones, and bonded warehouses,” said Captain Ossama Al Sharif, MTS Chairman & CEO. Background information: Misr Technology Services (MTS) authorized CargoX to be the gateway between the international trade community and the Egyptian national single window for international trade (NAFEZA) by providing blockchain-document-transfer services since January 2021. CargoX platform includes built-in automated workflows for Blockchain Document Transfer (BDT) where the ultimate level of immutability, transparency, reliability, and accountability is achieved. CargoX launched its BDT services on a “TRIAL” basis as early as March 2021 to serve seaborne cargo. The services became “LIVE” as of October 2021. Within this context, cargo shippers pre-lodge shipment documents and data electronically in a secure and prompt manner to ensure that import security screening and customs procedures on the Egyptian side can be accomplished prior to shipment arrival to Egyptian seaports. Since its implementation in seaports, the project has surpassed all expectations. CargoX blockchain solution was used seamlessly and safely to transfer more than 1,500,000 actual trade and finance documents to serve more than 100,000 customers. By providing reliable document transfer services, the CargoX Platform has become the fastest-growing blockchain platform in the logistics industry. It represents one of the most compelling cases for the adoption of the blockchain as a critical tool for streamlining global trade and commerce, as well as business-to-government communication. “NAFEZA has become a unified channel for customers exporting to Egypt by sea, and now also by air. The ACI system will expedite shipment clearance, reduce cost, and eliminate the risk of delays or loss of documents. We are proud that Egypt is yet again a global innovator and a key reference for modernization,” said Gamal Kotb, MTS General Manager. In the sea freight use case, the benefits resulting for users from the adoption of the blockchain technology include a reduction in the average cargo release time from 29 days to 9 days with a notable reduction in container demurrage and storage fees. Compliance costs for shippers in the maritime sector have also been slashed from more than USD$600 to USD$165, or less as a consequence of the move onto the blockchain. In air freight, the real-time delivery of documents will play an even more essential role, as cargo travel times are much shorter, and processes run with higher task frequency. “Mr. Stefan Kukman, CEO of CargoX said, “CargoX is proud to be developing the most cutting-edge digital solution for global trade - arguably the most important industry in the world,” “It is incredibly satisfying to already be working with some of the most selective companies in the logistics industry and forward-thinking governments that have made the CargoX Platform the fastest-growing blockchain platform in the logistics industry,” —Kukman added. About CargoX CargoX Ltd is a global company specializing in document transfer solutions, based on blockchain transactions and an ownership validation platform. The core team of founders brings together more than 100 years of experience in the logistics, banking, programming, IT and blockchain industries. Users of CargoX’s BDT platform can upload or create electronic trade documents and then transact ownership of them like money through a global bank, at any time, with the following benefits: ● Irrevocable transfer of ownership of the documents ● Unbreakable, neutral, public Ethereum blockchain ● The audit trail of events is only available to the participants involved ● Confidentiality and full protection of data, identity and business connections ● More than 65 document types are supported (eBL, eLC, Certificates, Contracts, Invoices) Contact Details CHARLIE PESTI —The world’s best publicist for supply chain technologies. Charlie Pesti +1 267-439-4355 charlie@pesti.io Company Website https://cargox.io/

June 06, 2022 10:02 AM Eastern Daylight Time

Freight Rate Transparency gains traction in Freight Forwarding – SHIFEX by Shifl

Shifl

Digital forwarding and supply chain platform Shifl has announced the launch of SHIFEX, an Ocean Spot Freight Rate Index for container shipments which is now available on their website ( https://shifl.com/index ). The recent and continuing unprecedented chaos in the freight markets has brought the dire need for transparency and visibility into actual ocean freight rates. Shabsie Levy, CEO and Founder of Shifl, said he often found thousands of dollars of disparities between reported and actual freight rates on the market. “In the current market condition, just about no one can afford to pay hundreds and sometimes thousands of dollars more for moving a single container,” said Levy. SHIFEX provides live insights into ocean freight rates. It tracks and displays the average ocean spot freight rates for 40'containers (FEU) on main Transpacific routes at any given period. Freight rate transparency and accuracy have always been touted as core business values. They improve customer engagement, build trust, and increase productivity in an industry that has been opaque. “By leveraging our existing technology, we are helping shippers benchmark the freight rates they should be paying for their shipments and help them better plan their order placements and inventory” said Levy. By analyzing its own data of actual bookings and shipments, Shifl was able to alert the market in advance of the drastic changes in the ocean spot freight rates across the volatile periods in 2021 and 2022. Eli Gelbman of The New York Doll Collection a company that manufacturers and sells childrens dolls and accessories says, "I am pleased that Shifl is launching SHIFEX. As a regular importer, we have been following Shifl's rate data in their market reports which has helped us tremendously in managing the volatility in the freight market. Having the same info now on-demand, will allow us to make better supply chain decisions, and improve efficiency in costing and in planning our orders." More about SHIFEX SHIFEX, the first ocean spot freight rate index by a US freight forwarder, provides live insights into ocean spot freight rates as it tracks and displays rates that are applicable on the Trans-Pacific route. SHIFEX is based on the actual spot freight rates quoted and/or paid for moving shipments on the Trans-Pacific route and is therefore a true reflection of the prevailing market conditions in the freight forwarding spot market. SHIFEX is offered as a free service by Shifl and covers Port to Port container spot freight rates. SHIFEX includes all commonly applicable surcharges, —including but not limited to BAF (Bunker and/or Emergency Bunker Adjustment Factor), CAF (Currency Adjustment Factor) ISPS (International Security Port Surcharge), PCS (Port congestion surcharge). The index provides past and current freight rates with the option of tracking rates on a 3, 5, 12 and 18 month basis from the base ports of China to both Los Angeles and New York. In addition to freight rates, Shifl is also planning to include its highly popular vessel transit and container dwell data and add spot freight rates of other trade lanes to SHIFEX so customers can track the past and current performance of these metrics as well. SHIFEX complements digital offerings that include Shifl.com, the digital forwarding and supply chain platform, and Shifl.capital, the cutting-edge FinTech solution designed to make business transactions easier for supply chain companies. About Shifl Shifl is leading the supply chain industry into the future with technology and innovation that brings a huge array of real-life benefits to its users. If you are a shipper looking to bring your business into today's digital age, be more in control, and pay less overall - Shifl is for you. Shifl is headquartered in New York and maintains a presence in China, India, Vietnam, Malaysia, Bangladesh, Georgia, DR, and The Philippines. To learn more, visit https://shifl.com. Contact Details CHARLIE PESTI Priyanka Ann Saini +91 98332 68264 priyanka@pesti.io

June 06, 2022 12:00 AM Eastern Daylight Time

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