Carbon removal startup Varaha raises $20 million to expand in the Global South

Varaha raised $20 million as the first tranche of a $45 million Series B led by WestBridge Capital to scale verified carbon removal projects across Asia and Africa, focusing on regenerative agriculture, biochar, agroforestry and enhanced rock weathering.

Varaha, an India-based climate tech startup founded in 2022, announced a $20 million opening tranche of a $45 million Series B led by WestBridge Capital to support an expansion of verified carbon removal projects in the Global South. The company develops removals through regenerative agriculture, agroforestry, biochar and enhanced rock weathering and says it uses an execution-focused model intended to lower unit costs while meeting international registry standards. Varaha operates projects in India, Nepal, Bangladesh, Bhutan and Ivory Coast and has issued credits via registries such as Puro.earth, Verra and Gold Standard. Key details: - Funding: $20 million raised as the opening tranche of a $45 million Series B, led by WestBridge Capital. - Focus: Expansion to scale verified carbon removal projects across the Global South, including Asia and Africa. - Methods: Projects include regenerative agriculture, agroforestry, biochar and enhanced rock weathering, with an execution-focused approach to lower unit costs while meeting registry standards. - Operations: Active projects in India, Nepal, Bangladesh, Bhutan and Ivory Coast and credits issued via Puro.earth, Verra and Gold Standard. - Partnerships and sales: The company reported revenue growth and has long-term offtakes with buyers including Google and Microsoft. - Programs: Varaha introduced an Industrial Partners Program to enable industrial operators to generate verified biochar removals using its MRV (measurement, reporting and verification) systems. Summary: The funding round supports Varaha's stated plan to scale verified removals and expand supply from lower-cost markets in Asia and Africa, potentially increasing available verifiable credits from those regions. Further details on the timing and completion of the full $45 million Series B were not provided and remain undetermined at this time.