India's leading self-made billionaires back Aakash Chaudhry's new edtech venture
Aakash Chaudhry, the co-founder of Aakash Educational Services Limited (AESL), has managed to raise $4 million (roughly ₹34 crore) for his new online tutoring platform, Sparkl Edventure. The ed-tech start-up has secured backing from two of India's leading self-made billionaires: Zomato's Deepinder Goyal and Zerodha's Nithin Kamath. The $4 million seed fund round is also expected to attract a few more marquee investors.
Sparkl Edventure: A new player in online education
Launched in October 2024 by Chaudhry, along with Meritnation.com founders Pavan Chauhan and Ritesh Hemrajani, Sparkl Edventure offers customized learning programs for students of International Baccalaureate (IB) and Cambridge curricula. It uses internationally certified teachers, AI-enhanced teaching methods, and a proprietary technology platform to deliver its services.
Sparkl Edventure's unique approach to education
"Sparkl is at the forefront of personalized education, blending AI with expert pedagogy to deliver unparalleled one-on-one tutoring experiences," Chauhan said. The platform caters to IB, IGCSE, and A-level students, hoping to meet the growing demand for specialized and effective learning solutions. Students from cities like Delhi NCR, Bengaluru, Pune, and Hyderabad have already enrolled in Sparkl's programs.
Chaudhry's previous venture and future plans
Chaudhry's last edtech venture, AESL, was acquired by BYJU'S in a cash-and-stock deal valued at $1 billion in 2021. Although there were some disagreements over the share swap, Chaudhry still owns an 11% stake in AESL today. In September, AESL announced a revamping strategy 'Aakash 2.0' to scale up its operations and build hybrid learning centers.
Edtech sector witnesses revival in investor trust
As companies broaden their offerings and presence, the edtech sector is seeing a revival of investor confidence. Kreedo Early Childhood Solutions, an edtech start-up providing transformation solutions for early learning in schools, recently raised ₹10 crore ($1.2 million) in debt funding from Recur Club to bolster its product offerings and expand operations.
