Varakhedi has been awarded the Maharshi Badarayan Vyas Samman by the President of India for contributions in interdisciplinary research.
[1][2] After taking a post-graduate Vidwaduttama degree in Navya Nyaya at the Poornaprajna Vidyapeetha in Bengaluru, which he passed with a 1st rank, he joined the Language Technology Research Center, Indian Institute of Information Technology, Hyderabad, in 1998 as a researcher.
He went on to become an Assistant Professor of Navya Nyaya at Poornaprajna Vidyapeetham, and later on to teach computational linguistics at the Rashtriya Samskrit Vidyapeetha in Tirupati.
He served as Dean, Director of PG studies and Research, Registrar in charge in the same university.
He did his PhD Vidyavaridhi at the Rashtriya Sanskrit Sansthan in representing Navy Nyaya in modern technology schemes, under the guidance of Prof. Haridasa Bhat.