Varaha platform for generating carbon credits raises USD 4 million in a seed funding round led by Orios Venture Partners, alongside participation from Omnivore, RTP Global, Better Capital, and other angel investors, including Kunal Shah
Varaha, a tech-enabled platform for generating carbon credits via nature-based solutions, raises USD 4 million in seed funding. The round was led by Orios Venture Partners, alongside participation from Omnivore, RTP Global, Better Capital, and other angel investors, including Kunal Shah.
Varaha is modernizing carbon markets with diverse climate action projects that are carefully vetted through advanced remote sensing analytics, machine learning, and biomass/soil modelling. Varaha is currently working across 6 Indian states and has signed MOUs with several institutions.
Based out of Gurugram and Bengaluru, Varaha was founded in 2022 by Madhur Jain, Ankita Garg and Vishal Kuchanur. Globally, over 500 million smallholder farmers are affected by climate change. Currently, there is no financial incentive for smallholder farmers to adopt agricultural practices that reduce GHG emissions and improve carbon sequestration.
The company is incentivising smallholder farmers to follow regenerative agriculture practices by creating high-quality carbon credits that augment their income while also reducing their operating costs.
Commenting on the fundraise, Madhur Jain, Co-Founder and CEO of Varaha, said, "Varaha’s tech platform creates fully-traceable, high integrity, carbon offsets from nature-based solutions. The sale of such offsets will catalyze climate-positive activities, augment the income of smallholder farmers and rural communities, and increase biodiversity. We are excited to partner with Orios, Omnivore, and RTP Global in this journey, as we rapidly scale across smallholder geographies."