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JustCo files for SGX listing

JustCo, a flexible workspace operator, is reportedly preparing for a mainboard listing on the Singapore Exchange, as it seeks to tap renewed investor interest in local equities, as first reported by The Straits Times. The company lodged a preliminary prospectus with the Monetary Authority of Singapore on May 7, although details including the offering size, pricing, and valuation have not been disclosed.

The Singapore-founded company is positioning itself as a regional office platform benefiting from hybrid work trends and rising demand for flexible workspace across the Asia Pacific. It plans to use proceeds from the IPO to fund its next phase of regional expansion.

Founded in 2011, JustCo said it currently operates 54 centers across 12 cities, including Singapore, Tokyo, Seoul, Sydney, and Bangkok, with about 37,500 workstations and nearly 1.9 million square feet of office space. Its customer base includes startups, small businesses, and large corporations. The company has also expanded beyond the traditional coworking model into premium office offerings under brands such as The Collective.

In Singapore, it launched The Collective at Labrador Tower in February, supported by demand from family offices and financial institutions. The company said APAC remains a key growth market, as companies increasingly seek shorter leases, decentralized offices, and scalable workplace solutions.

JustCo has opened four new centers this year across Singapore, India, and Taiwan. Financially, it reported a net profit of USD 2.7 million in 2025, reversing losses of USD 10.1 million in 2024 and USD 12.5 million in 2023. Revenue rose to USD 150.8 million in 2025, up from USD 113.8 million two years earlier.

Most of its revenue comes from membership-related fees through fixed-term or recurring subscription contracts, supplemented by service-related fees and a small contribution from management services.

Cornerstone investors are said to have committed to subscribing for 74.3 million shares ahead of the listing, including JPMorgan Asset Management, Amova Asset Management, Fullerton Fund Management, and Avanda Investment Management. DBS Bank and UBS are acting as joint issue managers and global coordinators, with Maybank Securities among the underwriters.

Cool Japan Fund leads Konvy’s Series B round

Konvy, a Thailand-based omnichannel beauty and personal care platform, has raised USD 22 million in a Series B round led by Cool Japan Fund, with participation from existing investor Insignia Ventures Partners.

The company said the fresh capital will support its expansion across Southeast Asia, the scaling of its private-label portfolio, and efforts to strengthen its position as a gateway for international beauty and lifestyle brands entering the region.

Founded in 2011, Konvy operates across e-commerce, marketplaces, social commerce, and offline retail channels in Thailand, Malaysia, and the Philippines. The platform said it offers products from more than 1,000 brands and has built a strong presence in Thailand’s beauty retail market.

Konvy said it plans to deepen its partnership with Cool Japan Fund to help Japanese beauty and health brands expand into Southeast Asia by leveraging its local distribution network, consumer insights, and marketing capabilities.

The company is also expanding its operations in the Philippines and Malaysia, targeting rising middle-class consumption and growing demand for curated beauty products in both markets.

Brano Therapeutics raises seed funding for heart failure therapies

Brano Therapeutics, a Singapore-based biotechnology startup, has raised USD 6.8 million in seed funding to advance treatments for heart failure, including heart failure with preserved ejection fraction, a condition with limited treatment options.

The round was led by Trinity Innovation Bioventure Singapore and Seeds Capital (SG Growth Capital), with participation from SGInnovate and Duke-NUS’ early-stage innovation fund, Live Ventures. The company is a spinoff from Duke-NUS Medical School and is focused on translating academic research into clinical therapies.

Brano is developing small-molecule compounds targeting metabolic dysfunction linked to heart failure. Preclinical studies suggest the approach may improve heart function by restoring metabolic balance.

The company plans to use the funding to advance its pipeline and move toward clinical trials, which it aims to begin by 2029.

Wenti Labs raises pre-seed funding for construction AI platform

Wenti Labs, a Singapore-based startup building an artificial intelligence operating system for construction teams, has raised a pre-seed round led by Zacua Ventures, with participation from Aurum Investments and Feedback Ventures.

Wenti Labs is developing AI agents that operate within existing workplace tools to capture and process unstructured construction site data in real time. These agents convert inputs such as safety observations, site photos, and progress updates into structured insights, enabling project teams to respond more quickly and make better-informed decisions.

The company said its approach integrates into existing workflows without requiring behavioral change, supporting early adoption in an industry typically slow to adopt new technology. According to the company, its technology is already deployed on active projects with companies including Boustead Projects, Penta-Ocean Construction, and Woh Hup.

The company will use the funding to expand its engineering team, accelerate customer acquisition, and grow its presence across APAC markets, including Japan and Australia.

Vietnam’s SoBanHang raises at least USD 3.8 million

SoBanHang, a Vietnamese merchant management platform, has raised at least USD 3.8 million in an ongoing pre-Series A round, according to DealStreetAsia, citing regulatory filings.

Hong Leong Bank anchored the round with a USD 2 million investment, while OSK-SBI Venture Partners contributed USD 1.5 million. Existing investors Febe Ventures and Antler also participated.

SoBanHang provides smartphone-based tools that help small businesses manage sales, inventory, operations, and customer transactions.

The fresh capital will support the expansion of its digital services as banks and fintech firms step up efforts to broaden their reach among Vietnam’s small businesses.

The latest round comes about three years after SoBanHang raised USD 4 million in seed funding across two tranches in 2021.

Recent deals completed in China: ReN3, Formas, Cata, and others made recent headlines:

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