This week, Australian Fable Foods Co announced a $6.5 million AUD seed funding round led by Blackbird Ventures. It aims to expand growth and launch into the US by the end of 2021. The successful enterprise, known for its “meaty” food was created by fine-dining chef and mushroom scientist Jim Fuller
The popular brand, which launched a year and a half ago, is sponsored by celebrity chef Heston Blumenthal, who features it on the menus of his Michelin Star restaurants and developed a vegan burger for Australian chain Grill’d using the fungus meat. Co-founder and CEO Michael Fox described how the taste and texture are so similar to meat that hundreds of consumers had no idea that it did not come from animals.
Currently, Fable products are available in Woolworths and Coles and specialty grocery chain Harris Farm Markets, on the menus of restaurants in Australia, Singapore, and the UK, and in some meal delivery services.
The funds will be used to expand production and manufacturing capabilities in Australia and abroad, to accelerate new product launches. Fable’s portfolio is already present in Singapore and the UK and will be launching in the United States by the end of 2021.
Fox commented “We’re thrilled to have partners dedicated to creating a more sustainable future, and who believe in our mission to help people reduce their meat consumption and ultimately end industrial animal agriculture. Thanks to the backing and support of Blackbird Ventures, AgFunder and all of our investors, we will be able to bring our delicious, clean, and responsibly crafted meaty mushroom products to more people around the world. We’re continually developing delicious meaty mushroom products to make it as easy as possible for people to eat less meat. We want to inspire people to make more healthy and sustainable food choices, and we believe that people shouldn’t have to compromise on taste or quality to do so.”
Fable also announced the appointment of Dan Joyce as Chief Growth Officer: “We’re looking forward to expanding in Australia and overseas, and we’re stoked to have Dan Joyce join us as our Chief Growth Officer. He did an incredible job helping build SafetyCulture and we’re thrilled to have his expertise as we continue to bring more delicious meaty food made from mushrooms to diners all around the world.”