Australia’s first self-service micro-market, Morsl, has successfully raised $5 million in a Series A fundraising.
Much of the capital raised came from a US$4.3 million investment from The Chapman Group, a Cairns-based family investment firm with businesses active in tourism, real estate and agriculture and a diverse investment portfolio including public and private equity and venture capital. The group is led by Chairman George Chapman AO and Director Dr. Ken Chapman directed.
With the funding, Morsl aims to accelerate its expansion plans, with over 20 new locations planned across Australia, as it looks beyond jobs for future growth and is hiring key management positions to continue growing the business.
Founded in 2018, Morsl offers a curated assortment of over 1000 fresh food and healthy snacks and beverages – including ready meals, sandwiches and salads – via a fully automated self-checkout marketplace that resembles a café.
“Our mission to provide Australian employees with easy access to healthier eating habits continues to gain relevance as we reach this incredible milestone today,” said Karla Borland, Morsl Chief Executive Officer.
“During the COVID-19 pandemic [hit]we had to shift the business focus from the corporate to the industrial sector, which remains our priority to this day,” added Borland. “Health and well-being are important issues for workers, who often face long, physical work shifts and limited access to healthy diet options in and around their workplace.”
Borland said Morsl’s “significant pipeline” shows there is strong demand from companies looking to improve employee productivity, satisfaction, engagement and retention in a tight labor market. They will use the funds raised to further raise awareness among Australian employers and show how Morsl can provide them with a viable wellness solution for their employees.
Morsl currently has 13 established locations across New South Wales and Victoria in some of Australia’s largest warehouses and logistics companies including Amazon and Officeworks, and supports over 5000 employees through its automated, unmanned 24/7 micro-markets.
The company recently signed an office/warehouse lease in Sydney to accommodate planned business growth. It also signed a national partnership with Charter Hall as part of its efforts to advance healthy work environments across its industrial portfolio.
https://insidesmallbusiness.com.au/finance/funding/micro-market-morsl-completes-5-million-capital-raise Mikromarkt Morsl completes $5 million capital increase