Trakm8 secures Sainsbury's contract extension

Telematics and data insight provider Trakm8 has been awarded a two-year contract extension with British supermarket giant Sainsbury's.

Trakm8 said on Friday that the extension was for the Sainsbury's Goods Online delivery solution, which was built on its Insight AI Optimisation platform algorithms supplied via API.

The AIM-listed group highlighted that since the introduction of Sainsbury's use of Trakm8 Insight AI algorithms, over 4,000 tons of carbon have been saved each year.

Chairman John Watkins said: "We are delighted to extend the duration of the solutions we provide to Sainsbury's having built a terrific solution together in partnership to give Sainsbury's customers the best possible experience from the GOL platform."

As of 0955 BST, Trakm8 shares had sunk 11.11% to 6.0p.

Reporting by Iain Gilbert at Sharecast.com