Bringing ideas to life and turning them into something that makes a real difference is no small feat. But META Group’s latest success story highlights just how impactful research and innovation can be. After nine years of collaboration, META Group alongise its Xplorer Fund, has successfully exited PHOTON, a Polish company that started with an idea for an educational robot and grew it into a lucrative business.
The exit involved selling META Group’s shares to Fidiasz ASI, a Polish investment fund, achieving a tenfold return on investment.
A journey of innovation and impact
Back in 2015, four students and their mentor from the Bialystok University of Technology, presented a project for an educational robot at the Microsoft Imagine Cup. The robot was designed to teach programming and learn alongside children, creating a new dynamic for teaching and learning in the education system. The concept caught the attention of META Group, who recognised its potential and provided early investment in the project through the Xplorer Fund, a joint initiative developed in collaboration with the Polish National Centre of Research and Development (NCBR), as part of the BRIdge Alfa programme.
META Group played a key role in bringing the PHOTON educational robot to fruition. By going beyond financial backing and by providing crucial strategic guidance, the group helped transform this promising research project into a tangible product that has the potential to revolutionise education. The PHOTON robot has since gained significant popularity in Poland, Slovakia, France and Italy, and is increasingly being used in schools. A leadership position in the domestic market has been achieved, with up to one in three schools in Poland using PHOTON robots to teach programming.
“We are immensely proud of the success of PHOTON,” stated Luigi Amati, Director at META Group and co-founder of Xplorer Fund. “This exit marks a significant milestone for both META Group and the European Research and Innovation ecosystem. It demonstrates our commitment to supporting groundbreaking research and translating it into real-world solutions.”
A blueprint for research impact
For over 30 years, META Group has been at the forefront of the European Innovation landscape. Whenever a promising opportunity arises, META Group has consistently collaborated with research teams, offering support and investment as a dedicated Research Accelerator. The Xplorer Fund and the PHOTON project are a prime example of this.
PHOTON’s success showcases the opportunities that can arise from co-investments between public grants (80%) and private equity (20%) funds in innovation.
“The fund has always tried to think ‘out-of-the-box,’” said Michal Grzes, Co-founder. “In this case, the scouting started with a student competition, where the Xplorer team saw potential in a student prototype of an educational robot, and ended with a successful exit a few years later. “
“Together, we went through a very challenging journey. Without the business acumen and financial expertise META Group brought, it would have definitely been harder. Today, PHOTON is a strong and stable company, and the exit is a natural stage in the investment cycle. We are all proud to have reached this point.” – summarises Marcin Joka, Co-founder.
In 2024, PHOTON expanded and gained significant traction in Italy, France, Spain, and the USA, with 70% of its revenues coming from outside Poland. And as META Group concludes its involvement with PHOTON, the company is well-positioned for continued growth. With products used by more than 1.5 million students across six continents, PHOTON is set to make an even greater mark on education worldwide.