Fable Food

What Fable Food does

Fable Food is an Australian food technology company founded in 2019 by Michael Fox, Jim Fuller, and Chris McLoghlin, headquartered in Sydney with sourcing operations in China. The company produces plant-based meat alternatives from upcycled shiitake mushroom stems—a waste stream from mushroom cultivation—which are processed through proprietary methods including sun-drying, shredding, and blending with natural ingredients (yeast extract, gluten-free soy sauce, isolated soy protein, tapioca flour, coconut and canola oil, mushroom powder, salt and pepper) to deliver umami-rich culinary proteins with meat-like texture. The company is strictly free from GMO, preservatives, and artificial ingredients, and is Upcycled Certified, Vegan Trademark certified, Kosher, Halal, Non-GMO Project Verified, FSSC 22000, BRC, and Carbon Neutral through Pathzero.

Fable's product portfolio includes the hero Pulled Shiitake Mushrooms (sold in 180g packs), a QSR-optimized Pulled Shiitake Riblet variant, Shiitake Mushroom Burgers for grill/flat-top/fryer applications, and Shiitake Infusion—a hybrid protein designed for blending with beef to target omnivore customers. The company protects its processing know-how with three PCT patent families granted across 10+ major jurisdictions (Australia, Canada, Europe, UK, Israel, Japan, Malaysia, New Zealand, Singapore, South Korea) and an internationally registered FABLE word mark.

The business model is primarily B2B food service sales through distributor networks and direct relationships, with products live in 1,500+ venues globally across Australia, the United States, the United Kingdom, Singapore, and New Zealand. Named enterprise customers include Wagamama, Guzman y Gomez, HelloFresh, Gousto, Yo! Sushi, Purple Carrot, Fishbowl, Zeus Street Greek, Roti King, Zambrero, and Moxies, with brand endorsement from Heston Blumenthal. The company is expanding into retail grocery and direct-to-consumer meal kits to address home cooks as a second GTM motion. To date, Fable has raised approximately US$14.9M across three rounds (a 2019 pre-seed, a 2021 seed led by Blackbird Ventures, and a 2023 Series A led by K3 Ventures), and has secured earned media through Netflix's Down to Earth with Zac Efron Season 2.

Name

Fable Food

Legal name

Fable Food Pty Ltd

Website

https://fablefood.co

Company type

Private

Founded year

2019

Operating status

Operating

Headcount range

11–50 employees

Short description

Fable Food produces plant-based meat alternatives from upcycled shiitake mushroom stems, serving B2B food service operators across 1,500+ venues globally with a portfolio of umami-rich protein products including pulled shiitake, riblets, burgers, and hybrid blends.

Ownership category

akta.pro rank

Product category

Plant-based Meat Alternatives

NAICS

Mushroom Production (111411), Perishable Prepared Food Manufacturing (311991), Food Manufacturing (311)

SIC

Miscellaneous Food Preparations & Kindred Products (2090)

akta.pro primary industry

Wild & Cultivated Mushroom Foraging and Production (AFAMAFAD)

akta.pro secondary industry

Meal Kits Featuring Meat/Seafood (Heat-and-Eat Components) (AFANAFAG)

Keywords

• Plant-based meat alternatives
• Mushroom protein products
• Upcycled food ingredients
• Food service distribution
• Shiitake mushroom processing

Headquarters

HQ city

Sydney

HQ country

Australia

HQ region

Oceania

Offices2 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Operations, Personnel, Marketing or Sales, Technology or R&D

Revenue model

1. B2B Food Service Product Sales: Fable sells its mushroom-based protein products to restaurants, hospitality operators, and food service businesses. Products are available through a network of distributors and direct relationships with 1,500+ venues globally.
2. B2C Retail and Direct Sales: Direct-to-consumer sales through meal kits and expansion into retail grocery channels for home cooks.

Pricing tiers

Go-to-market motion2 records

Distribution channels4 records

Marketing channels7 records

Core offering

Fable Food produces chef-quality, mushroom-based meat alternatives crafted from 100% upcycled shiitake mushroom stems that would otherwise go to waste. The company supplies restaurants, hospitality operators, and food service distributors through a network reaching 1,500+ venues globally, with secondary direct-to-consumer distribution via meal kits and retail grocery.

Product overview

Fable Food offers a portfolio of chef-quality, mushroom-based meat alternatives crafted from 100% upcycled shiitake mushroom stems. The core product line includes Pulled Shiitake Mushrooms (the hero product in 180g packs), Pulled Shiitake Riblet (an easier-to-cook variation), Shiitake Mushroom Burgers (for grill/flat-top/fryer applications), and Shiitake Infusion (designed for blending with beef). All products leverage the natural umami richness and meaty texture of shiitake mushrooms, serving food service operators, restaurants, and home cooks across international markets including Australia, UK, US, Singapore, and New Zealand.

Differentiator

Problem solved

Functional benefit

Products and services

• Pulled Shiitake Mushrooms The hero Fable product: a culinary protein crafted from 100% upcycled shiitake mushroom stems with rich umami flavor and meaty texture. Sold in 180g packs, used by chefs as a versatile base for tacos, stir-fries, burgers, and Asian-inspired dishes.
• Pulled Shiitake Riblet A variant of the Pulled Shiitake Mushroom product designed with enhanced forgiveness and easier cooking characteristics for quick-service applications including tacos, stir-fries, noodles, and burgers.
• Shiitake Mushroom Burgers Burger patties crafted for the grill, flat-top, or fryer that cook with a crispy exterior and tender interior. Designed as a center-of-plate protein alternative for burger applications.
• Shiitake Infusion A product designed to be blended with beef to create a hybrid protein that is better tasting, better for health, and more sustainable. Targets omnivores looking for more sustainable protein options.

Quantifiable outcome

• 92% less fossil fuels than beef (Fable 1 mJ vs Beef 76 mJ per kg)
• +3 more outcomes

Named customers10 records

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Four partnerships are on record, tiered core, flagship and minor.

• PathzerocoreStrategic or Co-development PartnerPathzero works with Fable to measure, reduce, and offset emissions as part of their carbon neutral certification. They conduct independent reviews and publicly verify Fable's annual carbon reporting.
• Netflix (Down to Earth with Zac Efron)flagshipGTM or Marketing PartnerFable was featured in Netflix's Emmy-award winning show Down to Earth with Zac Efron Season 2, Episode 2. The crew joined Fable co-founders for mushroom foraging adventures, providing global media exposure.
• Lighthouse KosherminorOthersRabbi Barry Dolinger through Lighthouse Kosher provides kosher certification for Fable products.
• SEDEXminorOthersFable is a proud member of SEDEX with manufacturing facilities undergoing regular SMETA audits to ensure safe and ethical practices.

Scale indicators7 records

Recent moves7 records

Expansion highlights6 records

Broad incumbents

• Oatly: Oatly is the leading plant-based food brand in foodservice with broad menu presence at major restaurant chains. Comparable to Fable in plant-based foodservice channel strategy, restaurant chain partnerships, and sustainability narrative, though operates in dairy alternatives rather than meat analogues.

Direct peers

• Quorn: Quorn produces mycoprotein-based meat alternatives including pulled/shredded formats similar to Fable's hero product. Direct peer in product texture (fibrous, meat-like), foodservice channel focus, and ingredient narrative (microorganism-based protein), with a much larger global retail footprint.
• MyForest Foods: MyForest Foods produces MyBacon and other meat alternatives from mushroom mycelium grown on upcycled agricultural substrates. Direct peer to Fable in technology (mushroom-based protein), sustainability positioning (upcycled ingredients), and target market (foodservice and retail), currently focused on the US market.
• Impossible Foods: Impossible Foods produces plant-based meat alternatives (burgers, sausages) primarily for foodservice operators including major restaurant chains. Comparable to Fable in product format, target customer (enterprise foodservice), and goal of replacing animal protein, though Impossible uses soy leghemoglobin technology.
• Beyond Meat: Beyond Meat is the most established plant-based meat alternative brand selling through foodservice and retail globally. Directly comparable to Fable in target market (restaurants, retailers, home cooks), product category (meat analogues), and B2B/B2C distribution model, though Beyond Meat uses pea protein rather than mushroom.
• Meati Foods: Meati Foods produces whole-food protein alternatives from mushroom mycelium root structure. Closest direct competitor to Fable in technology (mushroom/fungal protein), product format (whole-cut alternatives), and sustainability narrative, primarily focused on US retail and foodservice.
• The Mushroom Meat Company: Australia-based startup producing plant-based meat alternatives from mushrooms. Closest geographic and technological peer to Fable, also targeting foodservice with mushroom-based protein products in the Australian and Asian markets.

Emerging players

• Atlast Food Co: Atlast Food Co produces mycelium-based whole-cut meat alternatives including bacon and steak alternatives. Comparable to Fable in technology (fungal/mycelium protein) and product format (whole-cut alternatives), though earlier-stage and focused on US market only.
• Nature's Fynd: Nature's Fynd produces Fy Protein from a microbe (Fusarium strain) originally found in Yellowstone National Park geysers. Comparable to Fable in alternative protein category, foodservice partnerships, and sustainability positioning, though uses microbe-based rather than mushroom-based fermentation.
• Prime Roots: Prime Roots produces plant-based deli meats and bacon alternatives from koji (a type of fungus). Comparable to Fable in fungus-based protein technology and foodservice/retail positioning, with strong chef and restaurant relationships.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat7 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xtwitter.com/fablefood
• YouTubeyoutube.com/channel/fablefood
• Facebookfacebook.com/fablefoodco
• LinkedInlinkedin.com/company/fablefoodco
• Instagraminstagram.com/fablefood

Compliance12 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Funding overview

Funding rounds3 records

Investors13 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Fable Food