Fable Secures $2.7M Seed Round
August 9 2021 – Fable, the sustainably produced direct to consumer brand of tablewares, today announces the completion of $2.7 million in seed round to fuel continued growth and increased development across several key business verticals. The $2.7m seed round was led by True alongside Sandpiper VC and Mavan Capital with funds primarily designated to support international expansion and new product development. A group of over 30 investors participated in the round including Techstars and the founders of Mejuri, who have sold 1.8M pieces of jewelry to date and are the next generation, category-defining fine jewelry brand.
Fable produces simple, timeless and responsible home décor, creating and selling dinnerware and accessories, predominately through its ecommerce platform. With the rise of conscious consumerism – an Accenture report has found that 60% of consumers have been making more environmentally friendly, sustainable or ethical purchases since the pandemic began - and the increased demand for better homewares, Fable is poised to capatilize on shifts in consumer behavior and presents an exciting opportunity for their investors.
This significant new round of funding confirms investors’ confidence in the expansion of Fable’s unique business model and will support the acceleration of its business and growth of the team. Additionally, the new funds will be used for key categories as Fable plans to extend their product assortment beyond tabletop and into other corners of the home.
Speaking on the occasion of the announcement, Joe Parenteau, CEO & Co-founder of Fable states: “We’re excited to partner with our investors who shared passion for trying to do business better. We’re thrilled to announce this seed round as a next step for Fable which will undoubtedly unlock value for our business going forward, especially as we look to set-up in new geographies and onboard new talent”.
Claire Cherry, Investment Principal True comments, “As people have spent more time at home during the pandemic, consumers have increasingly sought to invest in the home versus other categories. We believe this trend will continue as the boundaries between work and home becomes more fluid. Not only do we believe that Fable’s products are great quality, designed well and built to last, but the Fable team has pledged to only partner with businesses that put people and planet first – the direction that we believe consumers want businesses to take. True is equally committed to these values and we’re wholly supportive of Fable’s pending B Corporation certification. Having been through the B Corp assessment ourselves we hope we can support Joe & the team through the final application stages, as well as make introductions across our network that will be really useful for the next stage of their growth”
Founded in 2019, Fable is an innovative direct-to-consumer brand that is creating minimal, elegant and sustainably designed products for the home. Fable is founded by entrepreneurs, who wanted to create a clever tabletop solution for those seeking a one-stop shop for our newly evolving living environments. By providing consumers with artisan-crafted ceramics and stainless-steel cutlery all at an affordable price point. Designed in Vancouver and crafted in Portugal, the responsibly produced collection includes ceramic dinnerware and flatware with an upcoming expansion into glassware and more categories to follow. The collections are designed to be effortlessly mixed & matched with their soft hues transcending trends whilst blending seamlessly into your every-day and available for purchase in practical product bundles. Fable products are responsibly designed everyday products that are durable and sustainably crafted. Fable focuses on transparency from everything from product pricing, who they partner with, and their environment impact. Fable is currently pending B Corporation certification.