Fable Food develops mushroom-based meat alternatives using the fruiting bodies of shiitake and agaricus mushrooms rather than mycelium. The company emphasizes natural umami flavor and a chitin cellular structure that can mimic the texture of animal meat. Its go-to-market strategy focuses on partnerships with top chefs and foodservice channels across restaurants, premium quick-service chains, meal-kit companies and value-added manufacturing for retail. Fable has begun international expansion into the UK, US, Singapore, New Zealand and Canada and will launch mushroom burger slider patties at STK Steakhouse as the chain’s first plant-based option. Management says the latest funding will be used for research and development and to develop additional mushroom-based products. The team positions mushrooms as having taste and texture advantages versus soy- and pea-based alternatives amid broader industry headwinds. Fable Food develops mushroom-based meat alternatives built around shiitake mushrooms to recreate meat-like taste and texture. Its initial portfolio includes substitutes for pulled pork, braised beef and beef brisket plus a line of ready-made meals. The company emphasizes minimal processing and ingredients, leveraging co-founder Jim Fuller’s chef/chemical-engineer/mycologist expertise (its braised beef uses shiitake, seven other ingredients, salt and pepper). Fable’s products are sold at Australian retailers including Woolworths, Coles and Harris Farm Markets and are served in restaurants such as Grill’d (136 locations); they are also available in Singapore and the U.K. The startup plans a U.S. launch by the end of the year via partnerships with restaurants and meal-kit companies. It intends to expand its product line to mushroom-based substitutes for pork, chicken, lamb and other animal proteins while keeping much of its pipeline under wraps.

Total raised

$13M

Funding rounds

2

Latest round

Series A

Latest activity

Feb 2023