Fable raises $6.5m to expand mushroom-based business

Mushroom-based protein company Fable Food Co has announced it has acquired $6.5 million in seed funding as it seeks to expand its business in the US, UK and Asia.

“By leveraging the nutritious benefits and natural umami flavours of mushrooms, we have created a natural, clean-label and minimally processed product without compromising on taste or quality,” Fable published in a post on LinkedIn.

“We are now ready for the next chapter and bringing more delicious meaty food made from mushrooms to diners all around the world.”

The company has already made deals with major retailers and food chains including Woolworths, Grill’d and meal-kit services Marley Spoon and Dinnerly.

Besides its pulled mushrooms being used in a variety of recipes, Fable’s products include Rogan Josh, Beef Stroganoff and Chilli Con Carne. 

Fable is co-founded by mushroom farmer Chris McLoghlin, mushroom scientist Jim Fuller and entrepreneur Michael Fox.

The seed funding, led by Blackbird Ventures, included AgFunder, Aera VC, Better Bite Ventures, Singaporean fruit and vegetable importer Ban Choon Marketing and former Sequoia Capital partner Warren Hogarth.

“With ambitious founders, a highly scalable business and delicious products, we look forward to following Fable’s development into new regions and products over the coming years,” Blackbird Ventures said.

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