Varaha, a climate tech business, has raised $4 million in seed funding led by Orios Venture Partners. Omnivore, RTP Global, Better Capital, and CRED founder Kunal Shah also participated in the investment round. Varaha plans to use the new funding to hire new employees and expand its activities throughout South Asia. Varaha, formed in February 2022 by Madhur Jain, Ankita Garg, and Vishal Kuchanur, generates carbon credits through technological solutions. The Gurugram and Bengaluru-based firm assists farmers in adopting regenerative agriculture techniques by developing carbon credits, improving their income, and lowering operational costs.
Because of the effects of climate change, obtaining carbon credits to offset emissions will soon become a requirement for all financial companies. Varaha’s platform enrolls smallholder farmers, calculates GHG, confirms carbon credits, and sells them to customers. Varaha claims to have signed Memorandums of Understanding with various institutions and is now working in six Indian states. The firm claims to have covered over 1.32 lakh acres of land with its nature-based solutions like agroforestry, forest conservation, and reforestation initiatives. According to its website, it has sequestered nearly 3.5 million tonnes of CO2 and saved 1.55 million liters of water.
Varaha’s technology platform generates traceable, high-quality carbon offsets from natural solutions. Selling such offsets will catalyze climate-friendly actions, raise the income of smallholder farmers and rural communities, and boost biodiversity.