©Fable Food Co
Mushroom-based meat alternatives company Fable Food has raised AUD 6.5 million (approx. $4.8 million) in seed funding, as it looks to expand its production globally.
The seed funding round was led by Blackbird Ventures, with participation from VC AgFunder, sustainability-focused Aera VC, Better Bite Ventures, Singapore-based Ban Choon Marketing and former Sequoia Capital partner, Warren Hogarth.
Founded in 2019, the Sydney-based start-up plans to use its new capital on continued research and product development, as well as to expand its production and manufacturing capacity globally. After having already launched in Singapore and the UK, Fable Food is now preparing to arrive in the United States by the end of this year.
Fable Food’s co-founder and CEO, Michael Fox, said: “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.”
Late last year, Fable Food released a range of ready meals made with its plant-based braised beef product.
© FoodBev Media Ltd 2022
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