Aakash Chaudhry, Founder of the Akash Institute, has reportedly acquired funding for his new firm, Sparkl Edventure, from noted consumer tech billionaires.

A few of them include Zomato founder Deepinder Goyal and Zerodha founder Nithin Kamath.

According to The Economic Times, Kamath's Rainmatter fund, which focuses on fintech and sustainability, is partnering with Goyal in a 4 million US Dollars seed fundraising round. Additional prominent investors are also anticipated to join the round, sources say.

What is Sparkl?

Sparkl is an up-and-coming EdTech platform that seeks to provide one-on-one online coaching to students in Classes VI through XII, with a focus on the International Baccalaureate (IB) and Cambridge curricula.

The platform offers personalised lessons in Mathematics, Science, Languages, and Business Studies.

Sparkl is already operational, with students enrolled from Delhi NCR, Bengaluru, Pune, Hyderabad, and Singapore, and plans to expand further.

Sparkl was founded in October by Chaudhry, along with Meritnation founders Pavan Chauhan and Ritesh Hemrajani

Meritnation, an EdTech platform bought by Chaudhry's family business, Aakash Educational Services Ltd (AESL) in 2020, played an important role in this collaboration.

This venture followed the momentous 950 million US Dollars sale of AESL to BYJU's in 2021, which was one of India's largest EdTech transactions. Chaudhry continues to own an 11 per cent share in AESL.