Sridhar Vembu of Zoho and Nithin Kamath of Zerodha are one of the few emerging startups who have managed to grow and inspire everyone by building large companies along with not raising external capital.
Notably, Kamath, who has a personal wealth of Rs 350 crore attached to him has recently registered a non-profit company to fight climate change.
Nitin Kamath, his wife Seema Kamath and his brother Nikhil Kamath are the directors of this newly founded company, called “Rainmatter Land Development”. The capital which has been paid up for this new entity is reportedly Rs 10 lakh.
When it comes to what will this entity do, it shall buy large areas of land, and metamorphose them into farmlands, rainforests and resorts among other possibilities.
With the aid of other third parties, Kamath wants to help sustain forests by employing modern techniques by partnering with those equipped with the knowledge of this field like scientists and experts.
According to Kamath, climate change should be reacted to, the same way people are reacting to the Coronavirus. This is because climate change is the biggest threat to human existence.
While it is unsure if the CSR activities of Zerodha Commodities will be intertwined with this company, this move by this family is much needed as it will give a significant contribution to fighting climate change.