Bengaluru, India, Feb 04 : Varaha, Asia’s largest developer of high-integrity carbon removal projects, today announced its Series B financing round of 45M, and close of the initial tranche of 20M, led by WestBridge Capital.
The new capital will accelerate Varaha’s geographic expansion, strengthen its scientific and MRV capabilities, and scale a new industrial partnership model that extends its capabilities to partners worldwide.
Founded in India, Varaha develops carbon removal projects across four pathways: Biochar, Afforestation, Reforestation and Revegetation (ARR); Regenerative Agriculture, and Enhanced Rock Weathering (ERW).
The company has built strong commercial traction, executing long-term carbon offtake agreements with U.S. technology leaders Google and Microsoft, as well as a major U.S.-based aviation company. Varaha has also delivered one of the highest volumes of durable carbon removal credits of any project developer globally as on date.
This investment marks WestBridge Capital’s first climate tech investment. Speaking on the investment Sandeep Singhal, Co-founder and Managing Partner, WestBridge Capital said,
“Varaha has built what very few companies globally have: deep scientific credibility in a nascent industry alongside a commercially viable business model. We believe Varaha is uniquely positioned to build a global carbon-removal platform from India, combining integrity, scale, and impact. This investment reflects our conviction in the team and their potential to shape the next phase of climate infrastructure worldwide.”
As part of its next phase of growth, Varaha is launching the Varaha Industrial Partners Program (VIPP), a biochar-focused partnership model for industrial operators globally. Through VIPP, partners with gasification capabilities and access to sustainable biomass can leverage Varaha’s expertise in digital Measurement, Reporting & Verification (MRV) and carbon credit origination. Varaha trains partner staff, installs sensors, implements its MRV system, and brings the resulting credits to market, either as offsets or as insetting credits for their partner’s own decarbonization goals.
Speaking on the recent funding and launch of VIPP, Madhur Jain, CEO and Co-Founder of Varaha said,
“This round reflects the continued confidence of investors and customers in Varaha’s science-led carbon removal solutions and our ability to scale them globally. Climate solutions only matter if they scale with integrity. With VIPP, we’re opening our platform to industrial partners worldwide. If you have biomass and gasification capabilities, we can help you generate verified carbon removal credits. We invite operators globally to join us in scaling climate impact.”
The VIPP is already operational with a project with a large cashew company in West Africa, multiple agribusiness partners in India, and a major Indian steel company with decarbonization goals.
RTP Global, which led Varaha’s Series A, has also joined the round with a super pro-rata investment. Galina Chifina, CEO & Partner at RTP Global added,
“From the very first meeting, Madhur’s vision and the Varaha team’s dedication to execution stood out. It’s rare to see business potential and real impact come so naturally aligned and it’s a privilege for us to support Varaha at every step of this journey. We genuinely believe this team has what it takes to build a game-changing climate solution, and we’re proud to be part of that story”
The round also saw participation from Omnivore who were among the early-stage investors in Varaha. Mark Kahn, Managing Partner at Omnivore, added,
“Our decision to double down reflects strong confidence in the team’s long-term vision and their potential to build a leading global carbon removal company. The strength of this fundraise, along with long-term offtake agreements with companies like Google and Microsoft, reinforces Varaha’s credibility and the momentum behind its trajectory”