Climate-tech startup Varaha has raised $20 million as the first tranche of its Series B round, led by WestBridge Capital, with participation from existing investors RTP Global and Omnivore.
Founded in 2022 by Madhur Jain, Ankita Garg, and Vishal Kuchanur, the Gurugram-based startup builds large-scale carbon removal projects across biochar, afforestation and reforestation, regenerative agriculture, and enhanced rock weathering. Varaha currently operates 20+ projects across India, Nepal, Bangladesh, Bhutan, and Ivory Coast, working closely with smallholder farmers and local partners. Alongside the funding, the company launched the Varaha Industrial Partners Program (VIPP), enabling industrial operators to generate verified carbon removal credits using Varaha’s MRV platform.
The total Series B round is expected to reach $45 million, marking a major milestone for the company after nearly two years since its Series A raise. The fresh capital will be used to expand Varaha’s global presence, strengthen its scientific and MRV (measurement, reporting, and verification) systems, and scale a new industrial partnership model focused on biochar-based carbon removal.
