Vancouver’s Fable, the sustainably produced direct to consumer brand of tablewares, today announced the completion of $3.4 million seed round to fuel continued growth and increased development across several key business verticals.
The 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 category-defining fine jewelry brand Mejuri.
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 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,” said Joe Parenteau, CEO & Co-founder of Fable.
“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”.