Australia’s leading self-service micro market raises $5 million

Morsl has announced it has raised $5 million in a series A capital raise, with the funds to be used to accelerate the company’s expansion plans.

The new funding raises Morsl’s valuation to $14.4 million and will be used to execute its current pipeline of over 20 new sites across Australia, hire key management positions, and to accelerate its growth nationally beyond workplaces.

Since launching in 2018, Morsl offers its curated range of over 1000 fresh food, better-for-you snacks and drinks via a fully automated, self-checkout market place at 13 sites across NSW and Victoria in warehouses and logistics companies, including Amazon and Officeworks.

Karla Borland, CEO of Morsl, said when the pandemic hit, they had to change business focus from the corporate to the industrial sector, which remains Morsl’s priority today.

“Health and wellbeing are significant issues with blue collar workers often facing long, physical work shifts, and limited access to healthy food options in and around their workplace.

“Our significant pipeline shows there is high demand from organisations looking to improve their employee productivity, satisfaction, engagement, and retention in a tight labour market. This new capital will allow us to further raise awareness amongst Australian employers to show how Morsl can provide them with a workable wellness solution for their people.”  

The company now offers over 5000 employees access to healthy and fresh food options, and recently signed a lease to an office/warehouse in Marrickville, Sydney to accommodate the planned business growth.

The raise includes an investment of $4.3 million from Cairns-based family investment office The Chapman Group, led by Chairman George Chapman AO and Director Dr Ken Chapman.

The Chapman Group has active businesses in tourism, real estate, and agriculture, and a diverse investment portfolio including listed and private equity and venture capital.

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