AI Smart Bus Platform Kolors Acquires Urbvan
Gunderson Dettmer represented Mexico City-based client Kolors, an AI-enabled smart bus platform, in the acquisition of Urbvan, a B2B van pooling provider. Kolors provides services including route optimization, virtual stops, pricing digital payment and more enabling small and medium bus operators to increase their load factor and revenue. The $12 million purchase of Urbvan allows Kolors to connect business travelers between cities and within cities to corporate offices, business parks, factories and distribution centers.
In the announcement of the acquisition, Kolors CEO and co-founder Rodrigo Martínez said, “Not only is Urbvan in great shape, but the main reason for the acquisition was to complement Kolors’s digital mass mobility ecosystem and offer our millions of passengers complementary mobility alternatives, especially when 30% of Kolors passengers travel for work and the tickets are paid by an employer (a potential B2B client); and all of Urbvan’s passengers are potential travelers for the Kolors intercity bus ecosystem.”
The Gunderson Dettmer deal team was led by Dan Green and Brian Willbur, and included Alice Billmire, Jenna Finegold, and Brenden Glapion.