Australian plant-based food startup, Fable Food, raises $6.5 mn AUD

admin / August 13, 2021 / Global, NewCrop, Startups

Meat alternative startup, Fable Food Co, raises a new investment round worth $6.5 million AUD for its plant-based food products. 

The Sydney-based startup uses shiitake mushrooms as the plant base in its creations which are available in Australia, Singapore and the United Kingdom, so far. 

“They are a slow-growing mushroom so they naturally have the fleshy fibers that give the meaty bite you typically get from animal proteins, and have the right chemical composition that when cooked allow us to taste flavors that are found in animal products,” co-founder of Fable Food Co, Michael Fox said to TechCrunch. 

Investors in the seed funding round include Blackbird Ventures, AgFunder, Aera VC, Better Bite Ventures, Ban Choon Marketing and Warren Hogarth, among others. 

The new investment round will be put toward expansion plans in the production aspects, as well as towards research and further product development plans. 

Products created by Fable Food Co include plant-based alternatives to Rogan Josh, Stroganoff, Chilli Con Carne, pulled pork, beef brisket and braised beef, among others. 

“We shared a common desire to help end industrial agriculture and wanted to make our food system more ethical, healthy, sustainable and lower its greenhouse gas emissions,” Fox said to TechCrunch. 

The company has future plans to launch its products within the United States before 2022 and plans on doing so through items at restaurants and within different meal kit services. 

(Picture courtesy: Fable Food)

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