Consumer technology products firm Tactus Group has invested in pi-top, a coding and robotics firm focused on digital skills in education.
Founded in 2014, pi-top provides a learning software platform and hardware and has shipped more than 100,000 computing devices and 150,000 accessories worldwide. With 41 employees, pi-top is headquartered in London with offices in Austin, Texas and Shenzhen, China.
Tactus Group is a consumer technology business, specialising in gaming, education and entry-level computing based in Warrington, Cheshire, employing 115 staff. It provides multi-branded IT hardware to global retailers and the public sector and its products includes smart home technology and wearable tech apparel, which it sells through partnerships with online and high street retailers worldwide. The company stated that it is on track to hit revenue of £175 million next year.
The acquisition follows Tactus’s £10 million backing from private equity firm Arete Capital Partners earlier this year, and it used this funding to acquire gaming specialist CCL Computers in April.
Scott Brenchley, chief executive at Tactus Group, said: “The US is a lot more advanced when it comes to robotics in schools – it’s had a real focus on digital skills in recent years. With coding becoming increasingly important in education across the world, pi-top has a significant opportunity to expand its global customer base.
“We remain committed to keeping ESG at the heart of our investment rationale, and the opportunity to provide pupils globally with access to higher quality technology was a key reason behind the investment. I’m looking forward to working alongside the existing management team at pi-top to improve access for students to digital skills at an early age.”
Stanley Buchesky, chairman and chief executive of pi-top, added: “We are excited to have Tactus as a major backer. Their expertise in scaling high-tech businesses will be synergistic with our rapid growth. Tactus’s investment vision and dedication to corporate social responsibility fit well with our mission of making it fun and easy for students around the world to learn the job skills of the future.”
Date published: 2 June 2021