As global buyers move from carbon avoidance to durable carbon removal, the market is demanding projects that are scientifically rigorous, verifiable, and scalable across geographies. Nature-based and hybrid removal models are increasingly being paired with industrial processes, pushing climate-tech startups to build deep measurement, reporting, and verification (MRV) infrastructure alongside on ground execution.
Funding Snapshot
Climate-tech startup Varaha has raised $20 million in the first tranche of its Series B round led by WestBridge Capital. Existing investors RTP Global and Omnivore also participated.
The full Series B round is sized at around $45 million. last raised $8.7 million in a Series A round in February 2024.
What Varaha Is Building
Co-founded in 2022 by Madhur Jain, Ankita Garg, and Vishal Kuchanur, Varaha develops carbon removal projects spanning biochar, afforestation and reforestation, regenerative agriculture, and enhanced rock weathering. The company operates across India, South Asia, and Africa, working closely with local operators and smallholder farmers to execute projects on the ground.
A core differentiator is Varaha’s in-house MRV platform, designed to deliver high-integrity, verifiable carbon removal credits that meet the expectations of global buyers.
Industrial Partnerships and Use of Funds
The fresh capital will be used to expand Varaha’s global footprint, strengthen its scientific and MRV capabilities, and scale a new industrial partnership model focused on biochar-based carbon removal. Alongside the funding, the company has launched the Varaha Industrial Partners Program (VIPP), enabling industrial operators with biomass and gasification infrastructure to generate verified removal credits using Varaha’s platform.
Why This Funding Matters
Varaha has already signed long-term carbon offtake agreements with global buyers such as Google and Microsoft and runs over 20 projects across India, Nepal, Bangladesh, Bhutan, and Ivory Coast. This round signals growing investor conviction that durable carbon removal will be built through repeatable infrastructure and industrial partnerships, not one-off projects. For Indian climate-tech founders, the message is clear: credibility, MRV depth, and execution at scale are now non-negotiable.
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