FreeWheelin, a South Korean edtech company, has secured KRW 7 billion (approximately $5.4 million) in a Series B funding round led by Smilegate Investment. Altos Ventures also participated in the funding round.
Math Flat, a product developed by FreeWheelin, provides services, including generating homework books, combining services with textbooks, managing mistakes made by students and analysing their performance data, to help educators to prepare for the course more effectively.
The company has created a database of approximately 700,000 math resources in partnership with textbook publishers that teachers can use without copyright concerns.
The product has been adopted by approximately 300 secondary schools and 5,700 math cram schools.
The company plans to use the new funding to expand its capabilities and refine its product offering, in line with the increasing prevalence of tablets in education.
FreeWheelin's CEO, Ki-Sung Kwon, explains that Math Flat aims to "provide individualized education in the classroom to the satisfaction of both students and teachers."
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