PicoBrew’s Reluctant New Owner Puts Shuttered Startup’s Assets For Sale On Website

PicoBrew’s Reluctant New Owner Puts Shuttered Startup’s Assets For Sale On Website

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Ever since The Spoon first broke the story of dwelling brew expertise startup PicoBrew getting into chapter again in February, it’s been an open query about what would occur to all the corporate’s mental property as soon as it ended up within the arms of a brand new proprietor.

Now we all know. The brand new house owners, a gaggle referred to as PB Funding Group, has launched a web site and listed the corporate’s patents and product mental property on the market.

So who’s PB Funding Group and the way did they arrive to personal all the firm’s belongings?

Because it seems, PB Funding Group is identical group of former buyers who turned PicoBrew’s bridge lender in mid-2018 when the startup did not safe a brand new spherical of financing. They gave the corporate till the top of final yr and, after PicoBrew did not lock in any potential consumers or buyers within the midst of the rising pandemic, PB Funding pushed the corporate into the receivership course of.

It was a savvy transfer on reflection because it allowed the PB Funding – after securing the profitable bid – to emerge on the opposite aspect with all the firm’s belongings however none of their debt. Since that point, the corporate put lots of the working belongings similar to PicoPak meeting equipment and warehouse gear up for public sale to “arrest the large warehousing and operational prices.”

And now, PB Funding Group new web site lists off the assorted patents (and patents in course of) and PicoBrew product line belongings such because the Pico, Zymatic and PicoStill on the market or licensing.

From the group’s open letter on the web site:

Efforts to search out the best purchaser, licensee, or associate are actively underway, nevertheless all operations needed to be terminated to cease the losses. Most of the firm’s belongings have been liquidated to arrest the large warehousing and operational prices.

Conversations are ongoing with these eager about all or elements of the corporate, however nothing has been determined but. We proceed to seek for consumers who’re eager about some or all the expertise both within the type of a sale or potential licensing of the underlying expertise.

Whether or not or not they finally discover a dwelling for the corporate’s patents or the product IP stays to be seen, however in the intervening time the corporate has promised to maintain the corporate’s servers on-line for the foreseeable future.

That promise was a reduction to a small however devoted group of PicoBrew dwelling brewers who’re hoping to proceed brewing with Pico dwelling brew home equipment. Whereas they gained’t be capable of use PicoBrew-made PicoPaks, the group has been engaged on constructing self-sufficient alternate options similar to 3D printed grain and hop baskets. And, anticipating that PicoBrew could some day shut off its servers, there’s a Fb group who has developed a solution to hold a Pico brewing with out connecting to the net.

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