Fable Foods, an Australian start-up focusing on mushroom-based meals, has recently secured US$8.5 million Series A funding from investors which include Singapore-based K3 Ventures and former global CEO of Yum! Brands among others.
Fable aims to use the fund for R&D and for expansion into the UK, Singapore and North America markets. This year, it has penetrated the North America market via the food delivery services and restaurants. In March, its mushroom burger product will become the first plant-based option to be served at STK Steakhouse – a well-known restaurant specialising in steak dishes.
Michael Fox, Co-Founder and CEO of Fable said, “We want to inspire the world to make more sustainable food choices. We believe that eating more delicious, meaty food made from mushrooms will help the world reduce global meat consumption – without compromising on taste, texture, or experience – and this is how we will be able to achieve a more sustainable food system.”
Managing Partner of K3 Ventures, Kuok Meng Xiong said, “K3 Ventures invests in start-ups and contributed to the US$100 million venture financing deal for Next Gen Foods in February 2022. Fable is reshaping the future of food by leveraging the power of mushrooms to create their delicious plant-based products. We’re excited to be a part of the next stage of Fable’s growth and to support their ambitions to combat arguably one of the biggest issues of our time – climate change.”
