Varaha raises $4 million in its early stage seed funding round. The round was led by Orios Venture Partners, alongside participation from Omnivore, RTP Global, Better Capital, and other angel investors, including Kunal Shah.
Based out of Gurugram and Bengaluru, Varaha was founded in 2022 by Madhur Jain, Ankita Garg, and Vishal Kuchanur
Commenting on the fundraise, Madhur Jain, Co-Founder, and CEO of Varaha, said, “Varaha’s tech platform creates 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."
Varaha is modernising carbon markets with diverse climate action projects that are vetted through advanced remote sensing analytics, machine learning and biomass/soil modeling. Varaha is currently working across six Indian states and has signed MOUs with several institutions.
Commenting on the fundraise, Anup Jain, Managing Partner, Orios Venture Partners said, “With the undeniable impact of climate change, purchasing carbon credits to offset emissions will soon become a necessity for all commercial entities. We are excited to support and invest in Varaha as they address this large market of identifying, authenticating, and making the credits available for purchase in domestic or global markets by working with India's farmers.”