Varaha
Varaha is a Carbon Removal (CDR) company founded in 2022 and based in Gurugram, India. It has raised $33M in total funding, most recently a Series B in 2026.
Varaha was founded in 2022 by Madhur Jain, Ankita Garg and Vishal Kuchanur and is headquartered in Gurugram, India. It develops carbon projects with smallholder farmers across India, Nepal and Bangladesh in regenerative agriculture, agroforestry, biochar and enhanced rock weathering, using its own measurement, reporting and verification platform built on remote sensing and machine learning. Revenue comes from selling carbon credits to corporate buyers and marketplaces. In 2025 it processed about 240,000 tonnes of biomass and generated about 115,000 credits. Varaha raised a $4 million seed round and an $8.7 million Series A led by RTP Global in February 2024. In February 2026 it closed a $20 million initial tranche of a planned $45 million Series B led by WestBridge Capital, bringing equity raised to about $33 million. It also has about $35 million in project financing; in November 2025 Mirova invested $30.5 million in its regenerative farming program in exchange for a share of future credits.
Varaha is a high-volume supplier of durable carbon removal from Asia. Google agreed in January 2025 to buy 100,000 tonnes of biochar removal from its Gujarat project, and Microsoft signed in January 2026 for more than 100,000 tonnes through 2029 from cotton-stalk biochar in Maharashtra. CDR.fyi counts over 500,000 tonnes sold, and with Exomad Green it delivered about 70% of Q1 2026's durable removals.
At a glance
Total raised
$33M
Headcount
201-500
Headquarters
Gurugram
IndiaFounded
2022
Status
Private
Subsector
Where Varaha ranks
Top 25 Climate Tech companies →Funding history
Total raised
$33M
Rounds tracked
1
Latest stage
Series B
| Date | Stage | Amount | Valuation | Lead investors |
|---|---|---|---|---|
| Feb 3, 2026 | Series B | $20M | — | WestBridge Capital |
In the news
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