Internet of Things-enabled (IoT) home coffee machine concept Morning has raised $5m in Series A round funding to expand its global presence and improve its machine, mobile app and marketplace offering
New investment will be used to accelerate further market growth for Morning by the end of 2023 | Photo credit: Morning
Singapore-based coffee machine company Morning has raised $5m in investment from its Series A round, led by East Ventures, which will be used to expand the brand’s international presence.
Launched in 2021, the brand reports it has sold its IoT-enabled machines in more than 25 countries and expanded its presence from Singapore and South-East Asia to the UK in the first 12 months of operating. The new investment will be used to accelerate further market growth by the end of 2023.
Additionally, Morning said the funding, which also included investments from P9 Capital, Wee Teng Wen of The Lo & Behold Group, will help the company develop and diversify its product offering.
The IoT-enabled home brewing machine is marketed as part of the ‘Morning ecosystem’ which uses a marketplace for specialty coffee capsules and a mobile app to curate brewing parameters for a range of prominent coffee brands.
“Coupled with an exploding demand for better convenient home coffee solutions, fueled by the pandemic and remote-working trends, we believe that Morning is optimally positioned to capitalise on this trend. We’re extremely grateful for the support garnered from our Series A round with the market’s leading experts and mentors who will play critical roles in growing Morning, a global household name,” said Leon Foo, CEO of Morning.
A memorandum of understanding was also signed between Morning and its investors, signifying a commitment to a strategic partnership.
Following 18 months of Covid-19 disruption, many consumers have sought to replicate the café experience by investing in premium at-home coffee equipment. Reporting its 2021 results, Italian espresso machine manufacturer La Marzocco said it had secured ‘huge success’ in the at-home coffee market, indicating that the trend is likely to outlast the pandemic.
Fellow Italian coffee machine manufacturer De'Longhi has also benefited from increased demand for coffee machines alongside its Kenwood, Braun and nutribullet brands, which all achieved strong sales in the first quarter of 2022.