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Fable Food closes in on third fundraising round

Australian start-up Fable Food is close to securing up to $25 million in fresh funding, as the alternative meat sector continues to find favor with consumers everywhere. The start-up makes meat products out of shiitake mushrooms and counts Grill’d, Guzman y Gomez and Heston Blumenthal as its customers.

Co-founder Michael Fox, whose previous venture was collapsed fashion start-up Shoes of Prey, told this masthead that Fable Foods had settled on two candidates as potential lead investor - one American and another from the UK - that would provide the majority of the funding and bring on other smaller investors.

Fox said the next step was to negotiate the terms and determine which offer was better aligned with the start-up’s mission and valuation of the business.

Source: brisbanetimes.com.au


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