Zomato CEO Deepinder Goyal and Zerodha CEO Nithin Kamath invests $4 million in Aakash Chaudhry’s Sparkl

Aakash Institute founder Aakash Chaudhry has reportedly secured backing from prominent consumer tech billionaires, including Zomato’s Deepinder Goyal and Zerodha’s Nithin Kamath, for his new venture, Sparkl Edventure. According to an Economic Times report citing unnamed sources, Kamath’s Rainmatter fund—known for its focus on fintech and sustainability—along with Goyal, is participating in a $4 million seed funding round. Additional marquee investors are also expected to join the round.
Chaudhry launched Sparkl in October this year in partnership with Meritnation.com founders Pavan Chauhan and Ritesh Hemrajani. Meritnation, an edtech platform acquired by Chaudhry’s family business, Aakash Educational Services Ltd (AESL), in 2020, was a pivotal part of this collaboration. This venture follows the landmark $950 million sale of AESL to Byju’s in 2021, one of India’s largest edtech deals. Chaudhry continues to hold an 11% stake in AESL.