JustCo IPO Plans, Konvy Funding, Biotech & AI Startups

Flexible workspace provider JustCo is reportedly charting a course for a mainboard listing on the Singapore Exchange, signaling a potential surge in investor appetite for the city-state's public markets. The company has submitted a preliminary prospectus, though specific details regarding the offering's size, valuation, and pricing remain under wraps. This move positions JustCo to capitalize on the evolving hybrid work model and the escalating demand for adaptable office solutions across the Asia Pacific region.

Founded in 2011, JustCo has cultivated a significant footprint, operating 54 centers spanning 12 cities, including key hubs like Tokyo, Seoul, Sydney, and Bangkok. The company boasts approximately 37,500 workstations and nearly 1.9 million square feet of managed office space. Its diverse clientele ranges from agile startups and small enterprises to established corporations. JustCo has also broadened its offerings beyond traditional co-working, introducing premium office concepts under its 'The Collective' brand, exemplified by its recent launch at Labrador Tower, which has attracted interest from family offices and financial institutions.

The company's financial performance shows a notable turnaround. After reporting losses of USD 10.1 million in 2024 and USD 12.5 million in 2023, JustCo achieved a net profit of USD 2.7 million in 2025. Revenue also saw a healthy increase, reaching USD 150.8 million in 2025, up from USD 113.8 million two years prior. The bulk of its income is derived from membership subscriptions, supplemented by service fees and management agreements. This financial recovery underscores the resilience and adaptability of the flexible workspace sector amidst shifting corporate real estate strategies.

In parallel, Thailand's beauty and personal care platform Konvy has secured USD 22 million in Series B funding. The round was spearheaded by Cool Japan Fund, with participation from existing investor Insignia Ventures Partners. This infusion of capital is earmarked for Konvy's expansion throughout Southeast Asia, the enhancement of its private-label product lines, and its strategic role as a conduit for international beauty brands entering the regional market. Konvy's multi-channel approach, encompassing e-commerce, marketplaces, social commerce, and physical retail, has established a strong presence in Thailand and is now extending into Malaysia and the Philippines.

Further bolstering the biotech sector, Singapore-based Brano Therapeutics has raised USD 6.8 million in seed funding. This investment, led by Trinity Innovation Bioventure Singapore and Seeds Capital (SG Growth Capital), with contributions from SGInnovate and Live Ventures, will fuel the development of novel therapies for heart failure. The company, a spin-off from Duke-NUS Medical School, is focused on small-molecule compounds targeting metabolic dysfunction, aiming to restore cardiac function. Brano Therapeutics plans to advance its pipeline towards clinical trials, anticipated by 2029.

Additionally, Wenti Labs, an AI platform for construction teams, has closed a pre-seed round backed by Zacua Ventures, Aurum Investments, and Feedback Ventures. The startup develops AI agents designed to integrate seamlessly with existing construction management tools, transforming unstructured site data into actionable insights. This technology aims to expedite decision-making and improve project efficiency in an industry often characterized by slow technology adoption. Wenti Labs' solution is already being utilized on active projects with notable construction firms.

The IPO preparations by JustCo, Konvy's significant funding round, and the seed investments in Brano Therapeutics and Wenti Labs collectively highlight robust investor confidence in Asia Pacific's diverse growth sectors, from flexible real estate and consumer goods to cutting-edge biotechnology and construction technology. The involvement of prominent investors such as JPMorgan Asset Management, Amova Asset Management, Fullerton Fund Management, and Avanda Investment Management in JustCo's pre-listing commitments further underscores the market's positive outlook.