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Overview of the Funding Round
- Funding Announcement: Sparkl Edventure, an online education startup co-founded by Aakash Chaudhry, has raised $4 million in a seed funding round.
- Key Investors: The funding was led by Deepinder Goyal (Zomato founder) and Nithin Kamath (Zerodha founder), through his sustainability-focused fund, Rainmatter.
- Founder’s Background: Chaudhry, known for his role in Aakash Educational Services Ltd.’s (AESL) $950 million acquisition by Byju’s, launched Sparkl in October 2024.
Focus on Personalized Tutoring for IB and Cambridge Students
Specialized Tutoring Services
- Target Audience: The platform offers one-on-one tutoring for students pursuing International Baccalaureate (IB) and Cambridge curricula, markets underserved in India.
- Addressing Gaps: Many parents struggle to find qualified tutors for these international boards, which differ significantly from CBSE and ICSE syllabi.
Subject Offerings
- Sparkl covers core subjects like mathematics, science, and languages.
- Future plans include expanding into SAT/ACT coaching and global standardized test preparation.
Geographic Reach and Expansion Plans
- Current student base includes regions such as Delhi NCR, Bengaluru, Pune, Hyderabad, and Singapore.
- The startup aims to expand internationally by the 2025-26 academic year.
Aakash Chaudhry’s Entrepreneurial Journey
Legacy in Edtech
- AESL Leadership: Chaudhry played a pivotal role in growing Aakash Educational Services Ltd. (AESL), founded by his father, J.C. Chaudhry, into a leading test-prep provider.
- Strategic Acquisitions: Under his leadership, AESL acquired Meritnation.com, whose co-founders, Pavan Chauhan and Ritesh Hemrajani, are now part of Sparkl’s leadership team.
Vision for Sparkl Edventure
- Retained Stake in AESL: Chaudhry continues to hold an 11% stake in AESL after its acquisition by Byju’s.
- Global Ambitions: He aims to establish Sparkl as a global player in the $2 billion IB/Cambridge tutoring market.