In a move that strengthens its growth plans, climate-tech startup Varaha has raised $20 million in the first tranche of its Series B funding round, led by WestBridge Capital. Existing investors RTP Global and Omnivore also took part in the round. The total Series B funding is planned at around $45 million.
This fundraise comes after a gap of 2 years. Varaha last raised $8.7 million in its Series A round in February 2024, which was led by RTP Global.
The company said the fresh capital will be used to expand its global presence, enhance its scientific and measurement, reporting and verification (MRV) systems, and scale a new industrial partnership model focused on biochar-based carbon removal.
Founded in 2022 by Madhur Jain, Ankita Garg and Vishal Kuchanur, Varaha works on carbon removal projects across biochar, afforestation and reforestation, regenerative agriculture, and enhanced rock weathering. Its operations span India, other parts of South Asia, and Africa, where it works closely with local partners and smallholder farmers.
Alongside the funding, Varaha has also launched the Varaha Industrial Partners Program (VIPP). Under this initiative, industrial operators with biomass and gasification capabilities can collaborate with Varaha to generate verified carbon removal credits. These credits are produced using the company’s MRV platform and carbon credit origination infrastructure.
Varaha has entered into long-term carbon offtake agreements with global companies such as Google and Microsoft. The company said it has already delivered a large volume of durable carbon removal credits.
Headquartered in Gurugram, Varaha currently runs more than 20 carbon projects across India, Nepal, Bangladesh, Bhutan and Ivory Coast, highlighting its expanding footprint in the global climate solutions space.
Also read: Viksit Workforce for a Viksit Bharat
Do Follow: The Mainstream formerly known as CIO News LinkedIn Account | The Mainstream formerly known as CIO News Facebook | The Mainstream formerly known as CIO News Youtube | The Mainstream formerly known as CIO News Twitter
About us:
The Mainstream is a premier platform delivering the latest updates and informed perspectives across the technology business and cyber landscape. Built on research-driven, thought leadership and original intellectual property, The Mainstream also curates summits & conferences that convene decision makers to explore how technology reshapes industries and leadership. With a growing presence in India and globally across the Middle East, Africa, ASEAN, the USA, the UK and Australia, The Mainstream carries a vision to bring the latest happenings and insights to 8.2 billion people and to place technology at the centre of conversation for leaders navigating the future.
