Fable Food Co, a Sunshine Coast, Australia-based meat alternative company, raised US$8.5M in Series A funding.
The round was led by K3 Ventures, with participation form Blackbird, AgFunder, Aera VC, Osher Günsberg, his wife Audrey Griffen, Greg Creed, Professor Peter Singer, Frantz Braha and Adrien Desbaillets.
The company intends to use the funds to accelerate research and development and the launch of new meaty mushroom products to market, growth and expansion in international markets and talent acquisition, with a focus on North America, the United Kingdom and Singapore.
Founded by fine dining chef, chemical engineer and mycologist Jim Fuller, organic mushroom farmer Chris McLoghlin and former Shoes of Prey co-founder and vegan Michael Fox, Fable makes meaty mushroom products, which are clean label, minimally processed and made with all natural plant-based ingredients.
Within 1.5 years of its launch, the comnpany announced an AU$6.5 million seed funding round in August 2021 and brought its meaty mushroom burger patty to market in partnership with Grill’d. It has since expanded its footprint in Australia following up with nationwide launches at Guzman y Gomez and The Coffee Club.
Last year saw Fable accelerate its international growth, with launches into the UK with burger chain Honest Burgers, meal delivery companies Gousto and Planty, and the UK’s first organic supermarket chain Planet Organic. The brand also launched into the United States with plant-based quick service restaurant chain Beatnic (formerly By Chloe), New Zealand with Hell Pizza, and Singapore with SaladStop!.
The comnpany launched 2023 with new brand partnerships in North America, with the launch of its meaty pulled mushrooms into plant-based New York based meal delivery service CookUnity, cult plant-based restaurant chain The Butcher’s Daughter, as well as Canada’s number 1 cooked meal delivery service Ethey.
Next month, Fable will be expanding its US footprint with the national launch of its mushroom burger slider patties at STK Steakhouse as the first plant-based option on the menu of the steakhouse chain.
FinSMEs
09/02/2023