Mathpresso, a Seoul, South Korea-based operator of the AI-based learning platform Qanda, secured a KRW 10 billion (approximately $8.4 million) investment.
SaaS Investors
The round was from KT (formerly Korea Telecom). The investment is part of a strategic partnership between the two companies.
KT is a Korean telecommunications company that provides integrated telecommunications and platform services in Korea and internationally. The company was formerly known as Korea Telecom Corp. and changed its name to KT Corporation in March 2002. KT Corporation was founded in 1981 and is headquartered in Seongnam, South Korea.
Mathpresso Use of Funds
The funds will be used to develop lightweight Large Language Models (LLMs) customized for the education sector and expand its to expand its AI tutor offerings.
About Mathpresso
Mathpresso is an edutech startup that developed a math-solver app that provides math solutions and original study contents. The company’s AI-powered learning app, Qanda, allows students of all levels to receive instant answers and customized learning sources. Mathpreso also offers Qanda Study, which offers live large classes, and Qanda Tutor, a one-on-one online tutoring platform. Headquartered in Seoul, South Korea, Mathpresso has offices in Tokyo, Hanoi, and Jakarta.
The company plans to create cost-effective and precise education-specific LLM models by leveraging its proprietary technologies, including data related to educational levels, context, and interactions. These models will enhance Mathpresso's AI tutors and personalized learning solutions. The company also intends to enter the US market by the end of the year to expand its AI tutor offerings.
Funding Details
Company: Masspresso Co., Ltd.
Raised: KRW 10B
Round: Unknown
Funding Month: September 2023
Lead Investors: KT (formerly Korea Telecom)
Additional Investors:
Company Website: https://recruit.mathpresso.com/
Software Category: AI-based Learning Platform
Source: https://wowtale.net/2023/09/10/63170/