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:
- Airseekers, a yard robotics company, has raised an eight-figure RMB sum in a Series A+ round. The round was led by Infore Environment Technology Group, with participation from existing investor XGroup. The company will use the funds for technology R&D and iteration, mass production and delivery across multiple SKUs, expansion of its product portfolio, and further development of its supply chain and global channel network. The new round brings its total funding over the past six months to more than RMB 100 million (USD 14.7 million). —36Kr
- Polarisast, an aerospace technology company, has raised an eight-figure RMB sum in an angel round. Yunqi Partners was the sole investor. The company provides design-to-assembly engineering solutions for spacecraft electrical interconnect systems and will use the funds to support product development and meet rising demand from commercial spaceflight, deep space exploration, and low-altitude aircraft applications. —36Kr
- Vizta Lab, a smart imaging technology company, has raised an eight-figure RMB sum across two angel extension rounds. The rounds were co-led by Peak Patience Capital and BlueRun Ventures, with participation from Green Pine Capital Partners, Clearwater Bay II Fund, and MiraclePlus. Vizta Lab will use the funds for R&D, product development, user experience enhancements, and supply chain expansion. —36Kr
- Vision Aero, a low-altitude mobility company, has secured an eight-figure RMB sum in an angel plus round. Orinno Capital led the round, with participation from Jinduo Investment. The company will use the funds to advance development, flight testing, and certification work for Vector 5, its seven-seat, three-ton eVTOL (electric vertical takeoff and landing) aircraft. —36Kr
- Ghostcloud, a defense technology intelligence company, has raised nearly RMB 100 million in a Series B+ round. Chengdu Capital Group, Hongshan Fund, and a fund affiliated with Korla, Xinjiang, jointly invested. Ghostcloud will use the capital to deepen its work in defense intelligence, unmanned systems, and related applications. —36Kr
- LiPure Energy, a solid-state battery developer, has raised an eight-figure RMB sum in a pre-Series A+ round from E-Town Capital. The company develops all-solid-state batteries using proprietary composite electrolytes and supercritical coating processes. It will use the funds for product R&D, market expansion, and production line deployment. —36Kr
- RongX, an AI computing architecture startup, has raised a nine-figure RMB sum in an angel round. The round was co-led by the Beijing Green Energy and Low Carbon Industry Fund and SAIF Partners, with participation from Shunxi Fund, GRC SinoGreen Capital, Malata Group, Changjiang Capital, Shuimu Tsinghua Alumni Seed Fund, Plum Ventures, and Winsoul Capital. The company is developing a GPU-centered architecture to improve AI compute utilization and reduce system complexity. —36Kr
- Gongji Technology, a computing power orchestration startup founded by a team from Tsinghua University, has secured nearly RMB 100 million in pre-Series A funding. Primavera Capital Group and Bian Era Technology Holdings co-led the round, with participation from Leaguer Zhongke and Alpha Startups. Gongji will use the funds for technology development and market expansion, centered on its grid-like computing power scheduling network. —36Kr
- RabbitPre, a visual spatial intelligence model and application platform, has secured a nine-figure RMB sum across its Series E and F rounds. Investors include Jiadao Capital, Longgang Financial Holding, China Venture Capital Fund, Qingdao Huatong Group, Qingdao Hainuo Investment, Nanshan SEI Investment, Sailvan Times, XtalPi, Newcity, and Kunshan Zhouzhuang Investment Development Group. The company will use the financing to support its shareholding reform and planned Hong Kong listing. —36Kr
- Tachin Technology, a tactile sensing and flexible electronic skin developer, has raised over RMB 100 million across its pre-Series A and pre-Series A+ rounds. Investors include Legend Star, Tsinghua Holdings Capital, Oriza Hua, Oriza Holdings, and Hongtai Aplus. The funds will go toward technology R&D, product expansion across full-body robotic tactile systems, haptic gloves, and tactile data collection tools, as well as production upgrades. —36Kr
- PixelBloom, the company behind AiPPT.com, has completed its Series C round. CAS Investment Management and SenseCapital co-led the round, with participation from Cornerstone Ventures and Dami Ventures. The company will use the funds to develop and commercialize agentic AI applications, expand globally, and hire talent as it shifts from slide deck generation to workplace-focused solutions. —36Kr
- DeepSleep, a sleep health company, has raised a seven-figure RMB sum in an angel round from an unnamed consumer electronics-focused industrial investor. The company develops a smart pillow system that combines non-wearable sleep monitoring with real-time intervention, including height adjustments and micro-vibration for snoring reduction. It will use the funds for technology R&D, team building, and preparation for mass production. —36Kr
ReN3, Formas, Cata, and others made recent headlines:
- ReN3, a Singapore-based work productivity startup, raised USD 5 million in a seed round led by Vertex Ventures Southeast Asia and India (SEAI).
- Formas.ai, a Singapore-based startup targeting the architecture, engineering, and construction (AEC) sector, raised USD 3.98 million in an oversubscribed pre-seed round. Vertex Ventures SEAI led the round, with participation from UntroD Capital, Hustle Fund, Big Sky Capital, Orvel Ventures, and angel investors from the technology and AEC sectors.
- Cata, a Singapore-based consumer app platform for F&B and retail operators, raised USD 5.3 million in an oversubscribed seed round led by Portage, with participation from White Star Capital, 468 Capital, FoodLabs, FJ Labs, Rally Cap, and Iterative.
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