Varaha has raised $20 million as the first close of a planned Series B financing round of approximately $45 million, as the carbon removal project developer looks to expand the scale, scope, and industrial reach of its nature-based solutions platform.

The round was led by WestBridge Capital, marking its first investment in climate technology. Existing investors RTP Global and Omnivore also participated, reinforcing continued backing from Varaha’s early supporters.

Building a Carbon Removal Platform Grounded in Nature and Smallholder Farming

Founded in India in 2022, Varaha focuses on nature-based carbon removal solutions, working primarily with smallholder farmers across South Asia. The company’s stated mission is to sequester one billion tonnes of CO2 equivalent by deploying scalable, scientifically validated carbon removal practices on smallholder lands.

Varaha currently operates 20 carbon projects across the region, spanning regenerative agriculture, agroforestry, biochar deployment, and enhanced rock weathering. These approaches are designed to remove carbon from the atmosphere while simultaneously improving soil health, agricultural resilience, and farmer incomes.

The company positions its model as both climate-focused and development-oriented, seeking to align long-term carbon sequestration with measurable co-benefits for rural economies.

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Commercial Momentum Strengthened by Major Corporate Offtakes

The Series B financing follows a period of growing commercial traction for Varaha. The company recently announced a 100,000 tonne carbon removal agreement with Microsoft, adding to existing offtake deals with Google and a major aviation company.

These agreements reflect rising corporate demand for high-integrity carbon removal solutions, particularly those that move beyond avoidance-based offsets and toward durable removal pathways aligned with net zero strategies.

According to Varaha, these partnerships validate both the scientific robustness of its methodologies and its ability to deliver at scale in emerging markets.

Launch of Industrial Partners Program Expands Biochar Strategy

As part of its next growth phase, Varaha is launching the Varaha Industrial Partners Program, a new biochar-focused collaboration model aimed at industrial operators. The program is designed for companies with existing gasification infrastructure and access to sustainable biomass.

Under this model, Varaha provides partners with its digital measurement, reporting, and verification systems, along with carbon credit origination expertise. The company installs monitoring sensors, manages third-party verification processes, and brings resulting carbon credits to market. These credits can be sold as offsets or used as insetting instruments to support partners’ own decarbonization strategies.

The program is already active through several projects in emerging markets, signaling Varaha’s intent to bridge nature-based carbon removal with industrial-scale deployment.

Explore OneStop ESG Marketplace: Carbon offset services

Investor Confidence in Science-Led Carbon Removal from India

Madhur Jain, CEO and co-founder of Varaha, said the funding reflects growing confidence in the company’s ability to scale carbon removal without compromising scientific rigor or credibility. He emphasized that climate solutions only deliver real impact if they can scale with integrity.

From an investor perspective, WestBridge Capital highlighted Varaha’s combination of deep scientific credibility and commercial execution in a still-nascent sector. Sandeep Singhal, co-founder and managing partner at WestBridge, said the firm views Varaha as uniquely positioned to build a global carbon removal platform from India, combining scale, integrity, and long-term impact.

Positioning for the Next Phase of the Carbon Removal Market

As scrutiny around carbon markets intensifies, developers face increasing pressure to demonstrate permanence, transparency, and measurable climate impact. Varaha’s approach, which integrates digital monitoring, nature-based science, and structured offtake agreements, reflects a broader shift toward higher-quality carbon removal solutions.

With fresh capital in hand and a growing portfolio of corporate buyers and industrial partners, Varaha is positioning itself to play a larger role in shaping how carbon removal scales across emerging markets, at a time when global demand for credible removal pathways continues to accelerate.

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