HBSS Connect Corp., the owner of community-driven transportation platform QRyde, has announced the acquisition of Israeli blockchain specialist Colu. The deal will aid QRyde in its efforts to create a blockchain-based transportation system for more efficient municipal government spending.
HBSS Connect is a developer of public transit, paratransit, NEMT, and microtransit software solutions within the US. Through QRyde it is now leveraging web3 technology to integrate transportation systems with local economies. Colu’s expertise will be brought to bear in delivering this project.
Colu has extensive experience of helping cities to implement digital reward schemes designed to engage residents and strengthen the local economy. It has collaborated with local communities and municipalities across the United States including Akron, Boston, Houston, and Saline County. Colu and QRyde will work closely to strengthen HBSS’ reach into community-based transportation programs while fostering economic and social growth in cities.
Colu CEO Ortal Tevel said: “I am thrilled about the integration of transportation and community services through this acquisition. By combining Colu’s vision of making cities thrive with QRyde’s advanced transportation platform, we can now better serve underpaid communities, transporting them to job centers and commerce areas. This strategic initiative will not only strengthen communities economically but also socially, continuing our mission to foster urban prosperity.”
HBSS CEO Himanshu Bhatnagar added: “We are pleased to have Colu joining our QRyde team. Colu is the perfect partner to help execute our vision of using blockchain in the mobility space, for entering into urban renewal and smart city space, making the transportation ecosystem trustworthy and more accessible to all citizens, not just the elderly and mobility challenged. Together, we are committed to creating a seamless and efficient transportation network that benefits communities across the United States.”
With a focus on accessibility and efficiency, QRyde’s platform is designed to connect people to essential services with over 250 customers in 35 states, serving over 9700 cities. Through the collaboration with QRyde, Colu will expand its program to incorporate a variety of essential services. This will enable a more connected and thriving urban ecosystem for cities across the United States.
The acquisition of Colu will fuel HBSS Connect’s quest to create trust and transparency through systems that support the local economic development efforts of communities. In the process, it will showcase a real-world application for blockchain by integrating it into QRyde’s ERP system to reduce fraud, waste and abuse in US government spending.
About Colu
Colu is committed to driving positive change in urban environments through community engagement and blockchain technology. By empowering cities to implement digital rewards and local currencies, Colu helps build stronger, more resilient communities.
Learn more: https://colu.com/
About QRyde
QRyde is a community-driven transportation platform bringing Providers, Communities, and Riders together. QRyde provides solutions for community transportation, NEMT, elderly and disabled providers, coordinators, and brokers. QRyde’s shared-ride scheduling technology serves the health care, education, public transit, employment, and international markets.
Learn more: https://qryde.com/
