Fable Food Co, a Sunshine Coast-based firm that makes and sells beef and pork-style products and ‘ready meals’ based on shiitake mushroom stems, raised $6.5 million in seed funding over winter 2021.
The company was already a success story after its fungi-based ‘pulled pork’ substitute was endorsed by celebrity chef Heston Blumenthal, who incorporated Fable Food products into dishes available at his fine-dining restaurants. Now, it has received expansion funding from a flotilla of investors: Blackbird Ventures, Aera VC, Better Bite Ventures, Singapore’s Ban Choon Marketing and San Francisco-based venture capitalist Warren Hogarth.
Fable Food will use the $6.5m funding injection to ramp up R&D and production at its Sunshine Coast-based manufacturing facility.
The company’s alt-meat products and ready meals are stocked by both Coles and Woolworths supermarkets Australia-wide and are exported to Singapore and the UK. Fable Food also supplies a mushroom-burger patty to the Grill’d burger restaurant chain.
Source: Fable Food raises $6.5 million for mushroom-based ‘meat’I Manufacturing AU
Lead image: A selection of plant-based Fable Ready Meals. Credit: Fable Food Co