That you personally own, no. But if you plan to install on other people's computers, you should buy additional licenses. There is an educational license, however, that is more broad:
Every copy of PICO-8 comes with a site-wide license for schools, workshops, public libraries, and similar educational spaces.
You can find the following in the file called license.txt
You may install and use THE SOFTWARE on any computers for which you are the primary user. You may additionally install and use THE SOFTWARE concurrently on any number of computers belonging to a single household or educational organisation, including libraries, clubs, schools and universities.
Each Raspberry Pi would be considered a computer, so as long as it follows the conditions above, you're good.
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