India Dealbook: Matrix backs Gobasco; UFO Moviez to merge with Qube Cinema

While agri-tech startup Gobasco raises seed funding from Matrix, UFO Moviez India Ltd is merging its business with Qube Cinema Technologies.

Agri-tech startup Gobasco raises seed funding from Matrix

Agriculture supply chain technology startup Gobasco has raised seed funding of an undisclosed amount from Matrix Partners India.

The Delhi-based startup plans to use this latest funding to scale and build a full stack commerce platform that yields higher operational efficiency , improves realisations for farmers, reduces wastage and enhances price and market discovery for agricultural commodities.

Gobasco combines large-scale data integration with proprietary technology to bring transparency to commodity supply from farm to fork.

“SMEs in India are adopting technology at a rapid pace, thus opening up opportunities in large, underserved markets like agriculture. Gobasco’s approach provides farmers and agri-SME’s with a data-rich technology platform and network to grow their profits, thereby creating new opportunities in rural commerce,” said Rajinder Balaraman, Vice President, Matrix India.

UFO Moviez to merge with Qube Cinema

Providence Equity Partners-backed UFO Moviez India Ltd today announced its merger of its business with Qube Cinema Technologies Pvt. Ltd.

“Considering the existing entertainment and advertising market dynamics, the proposed merger of the two companies will lead to robust growth opportunities in India and globally and will create greater value for their respective shareholders,” UFO Moviez said in a stock exchange filing.

Under the terms of the deal, UFO and its wholly owned unit PJSA Technosoft Pvt. Ltd will be merged with Qube Cinema and its group companies Qube Digital Cinema Pvt. Ltd and Moviebuff Pvt. Ltd.

“The merger ratio based on relative valuation stands at 63.6 per cent for UFO and 36.4 per cent for Qube Digital,” the company said.

Also Read:

3i exits digital cinema distribution network co UFO Moviez

Fintech startup ZipLoan raises $3m funding led by Matrix Partners

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.