©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 2024
World Beverage Innovation Awards – NOW OPEN FOR ENTRIES!
The awards celebrate excellence and innovation across the global beverage industry. Don’t miss out on having your innovations recognised on a global scale.
Deadline for entries 23 July – enter now!
Don’t get left behind
Start your free Foodbev magazine trial today and join thousands of fellow industry professionals in receiving food and drink trends direct to our business.
Click here to start your free trial
Your privacy We use small files known as ‘cookies’ to enhance your experience of the FoodBev website and analyse site-traffic. Read about how we use cookies or how you may control them in our updated privacy policy and cookie policy. If you continue to use this site, you consent to our use of cookies. Click the ‘OKAY‘ button at the top right of this panel to accept or click here for more information.