Education technology has seen a surge in interest and investment in recent years. Edtech startup Mathpresso, supported by Google, is at the forefront of this wave of innovation. Mathpresso recently secured $8 million (10 billion KRW) in financing from South Korea’s largest telecom business, KT. This latest investment brings the total raised to approximately $130 million, with past investments from Google, GGV Capital, Goodwater Capital, and SoftBank Ventures Asia.
Mathpresso is best known for their leading software, QANDA, an AI-powered learning platform geared towards K–12 learners. QANDA uses cutting-edge optical character recognition (OCR) technology to identify text and mathematical equations from photographs. It provides in-depth answers and tailored learning materials. Since its launch, QANDA has attracted over 80 million users across more than 50 countries, with the majority of users concentrated in Japan, Vietnam, Indonesia, and Thailand.
With this investment from KT, Mathpresso plans to create an education-specific Large Language Model (LLM) by combining KT’s infrastructure expertise with Mathpresso’s unique AI technology and data. The LLM model will be used to strengthen Mathpresso’s AI tutor and integrate it with their current offerings, such as the QANDA App, 1:1 online tutoring, and 1:1 online school (QANDA Study), to provide students with a more personalized educational experience.
In addition to improving its AI tutor, Mathpresso plans to use the LLM model to expand beyond Asia. The company is already seeing incredible user traffic in the U.S., the largest private education market among English-speaking nations. Mathpresso hopes to leverage this data to enhance the precision of their model and provide students with the best learning experience possible.
Mathpresso CEO Jake Lee said, “This partnership represents a significant step towards building a world-class AI tutor beyond Asia. Across all educational spectrums, our AI tutor will deliver the unique benefits of one-on-one coaching, which has long been regarded as the pinnacle of successful learning. It will provide numerous youngsters access to chances for education that are unrivalled.”
With this new investment, Mathpresso is poised to become a leader in the edtech industry, and it looks like they have the resources to make it happen. Teachers and students alike should keep an eye on this edtech startup as they continue to innovate and revolutionize the educational landscape.
