Bertelsmann funds open textbook publisher

The German media group Bertelsmann is leading a $15m funding round for Flat World Knowledge.

Flat World is a college textbook publisher that is seeking to commercialise open source educational content.  It offers free online books and makes money through low cost on-demand printing and audio books. The new funds raised from Bertelsmann and others will be used to expand its list beyond the current focus on business and economics.

Bertelsmann has made it clear that it wishes to expand further into the education market.

See FT.com for the full story.