SG’s Frasers Property backs US-based smart building SaaS firm Cohesion

Photo: Cohesion

Cohesion, a software-as-a-service player focused on smart buildings, has raised $6.5 million in seed capital in a round led by Hyde Park Angels, with other investors including Singapore-based Frasers Property Group.

ESD Global executive chairman Raj Gupta, Citadel founder and CEO Ken Griffen, GCM Grosvenor CEO Michael Sacks and global trading and investment firm CMT also participated in the round, Cohesion said in a statement Thursday.

The company’s platform targets commercial real estate operators and connects tenant-focused apps with legacy building engineering systems. It is a spin-off venture of Chicago-baed engineering design firm ESD.

“COVID-19 has presented the commercial real estate industry with never-before-experienced pressure, forcing adaptation to reprioritized tenant needs of health and safety,” Cohesion CEO and co-founder Thru Shivakumar said in the statement.

“The real estate industry is evolving rapidly. For Frasers Property to respond with agility, we’re looking at leveraging data-driven technologies to better manage our multi-national real estate portfolio,” said Frasers Property group CEO Panote Sirivadhanabhakdi.

“We believe investing in Cohesion’s solution enables us to realise a vision where building systems and workflows can be seamlessly connected in a centralised intelligent building platform and has the ability to help create a future of work experience,” he added.

Steve Koch, formerly the global chair for M&A at Credit Suisse, will join the company’s board of directors, the statement said.

Cohesion said its clients include The John Buck Co., Transwestern, Frasers Property, and Riverside Investment & Development.

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.