TLDR:
- Varaha, a climate-tech startup, secures $8.7 million in funding round led by RTP Global.
- The funding will be used to enhance technology, expand team, and enter new geographies like East Africa and Southeast Asia.
In the latest funding round, Climate-tech startup Varaha has raised $8.7 million with RTP Global leading the investment. Other participants include Omnivore, Orios Venture Partners, and Norinchukin Bank. The company, founded in 2022 by Madhur Jain, Ankita Garg, and Vishal Kuchanur, focuses on reducing carbon emissions in India’s agricultural sector.
Varaha plans to utilize the funds to strengthen its technology and science functions, increase team strength, and grow its supply chain. The company is also looking to expand to new markets such as East Africa and Southeast Asia over the next 18 months. Through partnerships with intermediaries and NGOs, Varaha works towards helping farmers adopt regenerative agriculture techniques to reduce greenhouse gas emissions.
The startup has been contracted to generate 230,000 carbon credits this year and aims to sell these credits to carbon credit marketplaces and corporates. Moving forward, Varaha aims to generate 1.2 million carbon credits by the end of FY25 and 2.8 million carbon credits in FY26.
Varaha’s mission aligns with the increasing pressure on organizations to reduce carbon emissions, offering a solution for corporates to offset their emissions through sustainable farming practices. With plans to enter new geographies and expand its team, Varaha is poised for growth in the climate-tech sector.
