PicoBrew raised its largest investment round as it continues to create devices and ingredient packs for home brewers.
A startup team in Fremont led by a former Microsoft executive is using its tech talent in a unique way — to brew better beer at home.
Seattle startup PicoBrew snagged a $10.6 million funding round Thursday, according to a filing with the Securities and Exchange Commission. PicoBrew CEO Bill Mitchell said the round came from private equity firm Spring Creek Investment Management in Philadelphia, as well as angel investors who had previously invested in the company.
The startup was started by former Microsoftie Mitchell to combine his loves of software and beer.
Most Read Business Stories
- How a tax loophole is helping tech company workers save millions
- Protesters in Seattle petition Amazon to stop selling technology to ICE
- Boeing jet trouble leads to cuts at Europe's busiest airline
- We've just lived through the greatest period of restaurant growth in U.S. history. Here's why it's ending.
- 6 minutes: Man haunted by family's final moments on 737 Max
“We want to get the world brewing and make it affordable enough so everyone can,” Mitchell said last year.
PicoBrew released its newest product, a small automated brewing machine called the Pico, last year after raising $1.4 million in a Kickstarter campaign. Brewers can buy packs of ingredients to put in the Pico, making it easier to create different kinds of beers.
PicoBrew partners with craft breweries around the world to assemble the packs of ingredients and offer recipes to brewers online.
“We’re starting to have enough partnerships with breweries worldwide that it’s time to take the message out more broadly,” Mitchell said in an interview Thursday.
PicoBrew plans to nearly double its staff to about 60 people by the end of the year, and invest in sales and marketing, he said.
The Pico is coming off the assembly line next week, Mitchell said, and will begin shipping at the end of the month.
PicoBrew’s first product, the Zymatic, is more self-directed and can make larger quantities of beer.
The company has raised more than $15 million in funding, and has a team of 33 people near Seattle’s Gas Works Park.