Varaha, a pioneering climate tech startup, has successfully raised $8.7 million in its latest funding round, spearheaded by RTP Global. This investment marks a significant milestone in Varaha’s mission to revolutionize sustainable farming practices and combat carbon emissions in agriculture.
Founded in 2022 by Madhur Jain, Ankita Garg, and Vishal Kuchanur, Varaha operates at the intersection of technology and agriculture, collaborating with intermediaries, on-ground partners, and NGOs to mitigate carbon emissions stemming from farming activities. The company’s innovative approach helps farmers increase their income and enables large corporations to procure carbon credits or offsets.
Utilizing cutting-edge technologies, including remote sensing, blockchain, and science-based quantification tools, Varaha empowers farmers in regions like Punjab, western UP, Nepal, and Bangladesh to adopt eco-friendly farming techniques. By focusing on initiatives such as improving the microbial strength of crops, preventing crop residue burning, and enhancing soil quality through biological interventions, Varaha is driving tangible environmental impact while fostering agricultural sustainability.
With the newly acquired funds, Varaha aims to bolster its technological infrastructure, expand its team, optimize its supply chain, and embark on a strategic expansion into emerging markets such as East Africa and Southeast Asia. This strategic move underscores Varaha’s commitment to scaling its operations and catalyzing positive change on a global scale.
Notably, Varaha has been contracted to generate 230,000 carbon credits in the current calendar year, with ambitious targets of producing 1.2 million and 2.8 million carbon credits by the end of FY25 and FY26, respectively. This projection underscores the company’s rapid growth trajectory and its pivotal role in the fight against climate change.
Varaha stands out in a landscape teeming with climate tech startups for its innovative approach, steadfast commitment to sustainability, and tangible impact in addressing pressing environmental challenges. As the world grapples with the urgent need for sustainable solutions, Varaha’s groundbreaking initiatives offer hope for a greener, more resilient future.
