Founded in 2022, Varaha builds carbon-removal projects in India, Nepal, Bangladesh, Bhutan and Ivory Coast, working with roughly 170,000–175,000 smallholder farmers across about 1.7 million acres. The company focuses on four removal pathways—regenerative agriculture, agroforestry, biochar and enhanced rock weathering—and registers its credits with Puro.earth, Isometric, Verra, Gold Standard and Carbon Standards International. To date it has removed more than 2 million tons of CO₂ and generated around 150,000 verified carbon-removal credits, securing long-term offtake deals with buyers such as Google, Microsoft, Lufthansa, Swiss Re and Capgemini. Varaha reported revenue of ₹430 million (~$4.76 million) last fiscal year and expects that figure to climb to nearly ₹2 billion (~$22.15 million) this year while remaining profitable after tax. The 225-person team is mostly based in India, with additional staff in Nepal, Germany, the U.S. and Australia. Future plans include expanding into Vietnam and Indonesia and scaling its new Industrial Partners Program that lets biomass owners generate biochar credits using Varaha’s measurement, reporting and verification tech. Overall, the startup positions itself as a lower-cost supplier of high-integrity carbon removals from the Global South.

Total raised

$63M

Funding rounds

4

Latest round

Series B

Latest activity

Feb 2026