The patents behind PicoBrew, the Seattle startup that once promised to do for home beer what Keurig did for coffee, are up for sale again — six years after the company collapsed into receivership and after two changes of ownership.

Hilco Global, an Illinois-based diversified financial services company, announced this week that its Intellectual Property Services group has been retained by PicoBrew’s current owner to market the startup’s technology to potential buyers.

The sale includes 17 patents and patent applications, two of them pending, along with engineering and design files and product concepts. Buyers can bid on all or part of the portfolio, and non-binding indications of interest are due Nov. 18. Hilco is pitching the assets to companies in coffee, tea, kombucha, spirits, beverage appliances and housewares.

The seller is Pico Craft Group, which Hilco described as led by a former PicoBrew investor. After PicoBrew’s 2020 collapse, its bridge lender took over the assets. That lender, PB Funding Group, was managed by former Microsoft software developer Greg Whitten, The Seattle Times reported at the time. Pico Craft Group bought the assets from the lender in 2024 for an undisclosed amount, according to Hilco, which did not say who runs the group.

“PicoBrew was a true innovator in the consumer and commercial craft beverage space, and its portfolio has applications well beyond beer,” Eric Hurwitz, a senior director at Hilco, said in a news release.

The portfolio covers technology from PicoBrew’s full product line, according to the release, including the Pico Pro and Pico C home brewing appliances, the PicoStill accessory for spirits, the Pico U Multibrew platform for beer, coffee, tea and kombucha, and Z-Series brewing machines and KegSmarts kegerators for commercial use.

Bill Mitchell, a former Microsoft vice president and longtime homebrewer, founded PicoBrew in 2010 with his brother Jim Mitchell, a food scientist, and Avi Geiger, an engineer who also worked at Microsoft. Their countertop machines automated the brewing process using PicoPaks, ingredient packs based on recipes from craft breweries.

The startup became a Kickstarter regular. Its 2017 campaign for the Pico Model C raised $1.93 million from 4,301 backers, a record at the time in the site’s food category, and the $549 machine landed at retailers including Best Buy, Williams-Sonoma and Amazon. A 2018 campaign for the Pico U pushed PicoBrew into coffee, tea and kombucha.

But the company struggled to land more funding. In February 2020, after failing to close a new round, PicoBrew entered receivership. It had raised more than $15 million and cut its staff to fewer than 40, down from a peak of more than 80.

PicoBrew ceased operations in 2020, and no one has supported existing devices since, according to Hilco. Any decision about future support would be up to a buyer. The King County Superior Court approved the 2020 sale, which freed PicoBrew’s bridge lender from the company’s liabilities and from responsibility to past customers, The Seattle Times previously reported.

Some owners kept their machines brewing without the company’s servers by using a workaround developed by a Facebook group of PicoBrew users, The Spoon reported in 2020. The founders were let go after the receivership, according to the site.

When PicoBrew went up for sale in 2020, Mitchell told GeekWire that hardware takes time and multiple funding rounds backed by firm investor commitment.

He shared advice he’d gotten from Dan Leviton of Maveron: “Startups only fail for one of two reasons — they run out of heart, or they run out of money.”

BLADE, the Ohio-based defense contractor formerly known as HDT Global, has won a contract to continue developing the large version of the Critical Equipment Decontamination System, a transportable system that cleans chemical and biological warfare agents off sensitive equipment used by U.S. special operations forces so the gear can be put back into service instead […]

W Group, the ecosystem behind crypto exchange WhiteBIT, has invested in derivatives provider SwapGlobal. The October 23 announcement disclosed no deal value and said the company’s first pre-IPO transactions were being prepared.

TL;DR: SwapGlobal is preparing institutional pre-IPO derivatives with backing from W Group. The planned exposure would convey a contractual payoff, without ownership of shares.

WhiteBIT names Marcel Boekhoorn and Amsterdam’s Kenzoll Capital as fellow backers. Funding will add trading and working capital for the expansion beyond crypto. Foreign equities, computing power and digital assets are further ambitions.

Exposure Without A Shareholding

SwapGlobal says it would hedge institutional client positions and use qualified custodians for collateral. Hedge funds and asset managers are among the intended customers.

The arrangement changes what a client is buying. A contractual payoff linked to a company’s value does not itself put the client on the company’s shareholder register. Voting rights, direct ownership and the ability to transfer actual shares cannot be assumed from a product described as pre-IPO exposure.

It also gives the contractual terms particular importance. A private company can remain unlisted longer than expected, making the handling of valuation changes, maturity and settlement central to evaluating a transaction. The announcement provides a business direction rather than the detailed terms of a completed deal.

For example, a contract’s treatment of an eventual listing would need to be understood alongside its treatment of continued private ownership. Those two outcomes can create different settlement questions. The label attached to the exposure does not answer them.

An Institutional Derivatives Model

SwapGlobal’s website describes an over-the-counter model offering swaps, forwards, perpetual forwards and options through a single counterparty relationship and ISDA documentation. Clients can access the service through an interface or an API. The company says its services are limited to Eligible Contract Participants under U.S. rules.

The website also describes initial margin as a fraction of a trade’s notional value, followed by daily variation margin. That means an institution’s liquidity needs can change after it enters a position. Access to an otherwise difficult-to-trade asset still comes with the mechanics of a margined derivative.

The intended custody arrangements address where collateral is held, while the contract determines how the exposure settles. Those are separate parts of the transaction to assess alongside the provider’s ability to hedge its obligations. More capital at the provider does not remove the need to examine the terms of an individual position.

For a group rooted in Bitcoin and broader crypto trading, the investment extends its interest into institutional access to private assets. Completed transactions with identifiable terms would be the next evidence of how the proposed model works beyond the funding announcement.

Written by the News Desk and edited by Samuel Rae.

These Zucchini Fritters are crisp on the outside with a soft inside making it a perfect snack to munch anytime. They are easy and simple to make, only the grating part takes a bit of time otherwise gets ready in under 20 minutes. Made gluten free these fritters are great to snack anytime of the day.

This is one of the best ways to use zucchini. The trick for making crisp zucchini fritters to squeeze the water as much as possible. They're easy to make, customise relatively inexpensive, and a great way to add more vegetables to a meal while still feeling satisfying to eat.

[feast_advanced_jump_to]

About Zucchini Fritters

Zucchini Fritters are crisp and crunchy on the outside with a soft textured inside. With the burst of flavours these fritters are great to snack that even kids would love it. Make it big sized and they serve as a great savoury pancakes for breakfast.

I wanted to make it gluten free so ended up creating this recipe. I have tried it couple of times and these turned out super good. So with perfect measures I am sharing the recipe here.

The first time I tried I was skeptical how my family would react so was waiting for them to taste it. But to my surprise everyone including my mother loved it so much and they complained saying it got over soon. So next time made a big batch to serve them and they all enjoyed it.

I served it with cheese spread that I had in hand and it was perfect combination. You can serve it with tomato ketchup too. This recipe is egg free, gluten free so try and enjoy it guilt free.

Similar Recipes

• Kunukku
• Beetroot Burfi Recipe
• Mango Rice Recipe (Mangai Sadam)
• Easy Soft Corn Tortilla Recipe
• Sweet Potato Kheer | Shakarkandi Kheer

Zucchini Fritters Video

Zucchini Fritters Ingredients

• Zucchini - Forms the base of these fritters. Grate them using big holed grater, squeeze water completely then use it.
• Rice flour - is added to make the fritters crisp and makes the binding easier.
• Besan flour - adds a nutty flavour and gives body to these fritters.
• Chilli flakes , Pepper powder - Chilli flakes and pepper powder is added for spice.
• Ginger, Garlic - is added for taste and flavour. You can grate or fine chop and add it.
• Onion - Add it finely chopped to add crunch and taste to the fritters.
• Curd - adds a mild sour taste.
• Oil - is used for shallow frying. Any flavourless cooking oil can be used for this recipe.
• Salt - is added to taste and balance the flavours.
• Soda - helps to soften the inside texture. It helps to avoid fritters turning hard.

How to make Zucchini Fritters Step by Step

1.Grate 1 medium sized zucchini using a big holed grater. Trim both the edges and discard them. It is around 3 cups of grated zucchini.

2.Transfer to a strainer, add salt to taste, mix well.

3.Keep covered and let it rest for 10-15 minutes.

4.Press well to squeeze the juice, remove as much as water content as possible. This makes the fritters super crispy. Reserve the extracted juice for later use.

5.To a mixing bowl add

• 3 cups grated zucchini
• ⅓ cup rice flour
• ⅓ cup besan flour
• 1 tablespoon garlic
• 1 teaspoon ginger
• ½ teaspoon chilli flakes
• ¼ teaspoon pepper powder
• salt to taste
• ½ cup onion
• 2 tablespoon thick curd
• ¼ teaspoon soda

6.Mix it well to form a thick batter. Add little of extracted juice only if needed. I added around 2 tablespoon. First mix and see then add only if needed else it will become watery.

7.Scoop the batter using a deep curved ladle.

8.Heat oil in a pan for shallow frying. Make sure oil is hot before adding the batter. Add the batter and slightly flatten it. It should be slightly thick not too thin.

9.Flip over and cook. Cook both the sides until golden brown.

Serve hot!

Expert Tips

• Zucchini - I used one whole medium sized zucchini. Trim the edges and grate it using big holed grater. Squeeze the water content as much as possible. You can even use a cloth to squeeze.
• Balance - Measure zucchini after grating and adjust the flours accordingly.
• Batter - The batter should be thick and not too loose. So add the extracted juice only if needed.
• Pan - Use a flat pan which has lifted edges, that will be perfect for shallow frying. You can use any flat tawa for frying the fritters.
• Frying - Fry until golden brown on both the sides, the fritters should have a crisp outside.

Serving and Storage

Zucchini fritters are best served hot and crisp, straight from the pan. Serve with Greek yogurt, sour cream, or even cheese spread. You can store the batter in fridge for 2 days. Fritters should be served right way for enjoying the best taste.

FAQS

1.Why is my fritters soggy and not crisp?

If you fry them when oil is not hot and ready the fritters might turn soggy. If the batter is too loose also it may turn soggy.

2.Can I air fry or bake them?

Yes you can but can't expect the same results as shallow frying.

• Air Fryer - Reheat at 180°C (350°F) for 3-5 minutes until hot and crispy.
• Oven - Bake at 180°C (350°F) for 10-12 minutes.

3.What can I serve fritters with?

You can serve it with tomato ketchup, green chutney or sour cream or cheese spread.

If you have any more questions about this  Zucchini Fritters Recipe do mail me at sharmispassions@gmail.com. In addition, follow me on Instagram, Facebook,  Pinterest, Youtube and Twitter .

Tried this Zucchini Fritters Recipe? Do let me know how you liked it. Also tag us on Instagram @sharmispassions and hash tag it on #sharmispassions.

📖 Recipe Card

The post Zucchini Fritters Recipe appeared first on Sharmis Passions.