Aakash Chaudhry's Sparkl Edventure bags $4M from Rainmatter, Zomato's Deepinder Goyal
Sparkl Edventure plans to use the funds for hiring teaching talent, building up tech infrastructure to harness AI and for brand building and marketing.
Edtech entrepreneur Aakash Chaudhry's Sparkl Edventure has raised $4 million in seed fundraise from Nithin Kamath's Rainmatter Foundation and Zomato's Deepinder Goyal, Founder Aakash Chaudhry told YourStory.
The development was first reported by The Economic Times.
The equity round was raised just months after Sparkl Edventure launched its platform in October, which offers one-on-one online tutoring classes to students from classes sixth to 12 in the IB and Cambridge curricula. It is targeting to build a student base for academic year 2025-2026.
"I believe this is an education segment, which in my personal experience as a parent and knowing so many parents struggling to find good tutors on IB, is underserved. This is because IB curriculum in India is a fairly new phenomenon and most people are used to teaching CBSE, ICSE or state board so teaching IB framework is a tougher problem to solve," Chaudhry said.
"This market also has a higher paying capacity and that allows us to run the one-on-one program, which requires higher economics," he added.
The company, which was founded by Aakash Institute and Meritnation founders, is waiting on paperwork from a few other investors as well and plans to close the round in January 2025.
While final details on whether Goyal or Kamath would be joining the board are still pending, the seed round aimed to bring in smart consumer tech leaders like them to the captable and understand and use their intelligence, their experience, and their vision to build Sparkl, explained Chaudhry.
The Delhi NCR-based company plans to use the latest infusion for hiring teaching talent across board, building its tech infrastructure to tap on AI abilities and for marketing and brand building.
Edited by Jyoti Narayan