Investments & Finance

Fable Food Co Raises $6.5M For Fungi-Based Products Indistinguishable From Animal Meat

Continuing its recent reign of success, Australia’s Fable Food Co, known for its “meaty” food created by fine-dining chef and mushroom scientist Jim Fuller, today announced a $6.5 million AUD seed funding round led by Blackbird Ventures to expand growth and launch into the US by the end of 2021.

In interview with vegconomist last year, Co-founder and CEO Michael Fox described how the “first product replicates slow-cooked meats like pulled pork, braised beef and beef brisket” and that the taste and texture are so similar to meat that hundreds of consumers had no idea that it did not come from animals.

Fable Food in pie
©Fable Foods Co

The popular brand, which only launched a year and a half ago, is endorsed by celebrity chef Heston Blumenthal, who features it on the menus of his Michelin Star restaurants and recently developed a vegan burger for Australian chain Grill’d using the fungus meat.

Fast expansion to continue

Fable products are currently distributed in Woolworths and Coles and specialty grocery chain Harris Farm Markets, on the menus of restaurants in Australia, Singapore, and the UK, and in meal delivery services Marley Spoon and Dinnerly. The company will use the funds 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 this year.

Fable packaging
©Fable Foods Co

Fox commented today: “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 Foods Michael Fox
©Fable Foods

Fable also announces 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,” said the co-founder, pictured above.

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