Comprehensive Scoring Analysis

Varaha, an India-based climate tech startup, has raised $20 million in fresh funding as it looks to scale carbon remova…

The investment marks the first portion of a planned $45 million Series B round led by WestBridge Capital, the venture f…

Founded in 2022, Varaha has raised about $33 million in equity to date, alongside $35 million in project financing and …

India has emerged as an increasingly important base for carbon removal projects, offering lower operating costs, deep a…

Varaha is positioning itself to capitalize on those advantages, arguing that its execution-focused model allows it to d…

Varaha’s advantage lies less in proprietary technology and more in execution, said co-founder and chief executive Madhu…

“If carbon credit is a cost to the businesses that are buying these carbon credits … it’s a cost on their balance sheet.

It’s not a CSR item,” Jain told TechCrunch.

“And hence, if the cost of a certain geography is going to be so high by an order of magnitude of , 1.

5x to 3x credit production, it is going to be extremely hard for those companies to survive.

” Varaha develops carbon removal projects across four main pathways: regenerative agriculture, agroforestry, biochar, a…

The startup generates and sells verified carbon removal credits through international registries, including Puro.

earth, Isometric, Verra, Gold Standard, and Switzerland-based Carbon Standards International, positioning itself as a s…

One of Varaha’s Regenerative agriculture projects Image Credits:Varaha To date, Varaha has removed more than 2 million …

He added that the startup was the first in India to issue carbon credits from biochar projects and the first in Asia to…

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Learn from founders and investors who have shaped the industry.

Connect with peers navigating similar growth stages.

Walk away with tactics you can apply immediately up to $300 on your pass or up to 30% with group tickets for teams of f…

Boston, MA | REGISTER NOW Varaha reported revenue of ₹430 million (about $4.

76 million) last financial year from delivered credits and expects revenue to rise to nearly ₹1 billion (around $11.

06 million) this year, while remaining profitable after tax.

The startup has signed long-term offtake agreements with global buyers including Google and Microsoft, as well as corpo…

Varaha currently operates across India, Nepal, Bangladesh, Bhutan, and Ivory Coast, working with about 170,000 to 175,0…

7 million acres, Jain said.

The latest funding will be used to expand into additional markets in South and Southeast Asia, including Vietnam and In…

The startup is also rolling out an Industrial Partners Program, which allows industrial operators with access to sustai…

The program is already operational with partners in West Africa and India, including agribusinesses and a steel produce…

“The problem is so big that tech, etc.

, will become open source over a period of time,” Jain said.

“So what matters the most is the execution.

” Varaha employs about 225 to 230 people, including roughly 55 across technology, science, product and data roles, with…

While the startup does not maintain offices overseas, it has staff in markets including Nepal, Germany, the U.

, and Australia, reflecting its growing international customer base.

“We believe Varaha is uniquely positioned to build a global carbon-removal platform from India, combining integrity, sc…

“This investment reflects our conviction in the team and their potential to shape the next phase of climate infrastruct…