What is Varaha's primary goal with the new funding?

Varaha's primary goal with the new funding is to scale its carbon removal projects in the Global South and become a lower-cost supplier for verified emissions reductions.

Which companies have signed offtake agreements with Varaha?

Varaha has signed long-term offtake agreements with global buyers including Google and Microsoft, as well as corporates such as Lufthansa, Swiss Re, and Capgemini.

Home / Business and Economy / India's Varaha Raises $20M for Cheaper Carbon Credits

India's Varaha Raises $20M for Cheaper Carbon Credits

Q: How does Varaha develop its carbon removal projects?

Varaha develops carbon removal projects through four main pathways: regenerative agriculture, agroforestry, biochar, and enhanced rock weathering, working with smallholder farmers and industrial partners.

4 Feb

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Summary

Varaha raised $20 million to expand carbon removal projects.
The startup focuses on lower-cost verified emissions reductions.
Projects are built across Asia and Africa, working with farmers.

India's Varaha Raises $20M for Cheaper Carbon Credits

India-based climate tech startup Varaha has successfully raised $20 million as part of its planned $45 million Series B funding round. This investment, led by WestBridge Capital, will support the expansion of its carbon removal projects, focusing on scaling operations in the Global South. Varaha aims to position itself as a more affordable provider of verified emissions reductions.

The company was founded in 2022 and has since attracted approximately $33 million in equity funding, alongside additional project financing and grants. Varaha capitalizes on India's advantages, including reduced operating costs and skilled technical talent, to deliver carbon removal services that meet international verification standards at a competitive price point.

Varaha's carbon removal strategies encompass regenerative agriculture, agroforestry, biochar, and enhanced rock weathering, primarily engaging smallholder farmers and industrial partners. The startup has already achieved significant milestones, removing over 2 million tons of carbon dioxide across 14 projects and generating roughly 150,000 carbon removal credits. It has also established long-term offtake agreements with prominent global buyers such as Google and Microsoft.