India-based carbon removal developer Varaha has secured $20 million in financial support to further grow its climate-oriented operations in the Global South.
The funding is the first part of a $45 million Series B round led by venture capital firm WestBridge Capital, for which this deal marks the first investment in climate tech solutions.
Other round participants include RTP Global and Omnivore, both of which have provided previous support for Varaha.
Positioned as the largest carbon dioxide removal (CDR) project developer in Asia, Varaha operates a network of initiatives centered around different pathways, such as biochar, enhanced rock weathering (ERW), afforestation, and regenerative agriculture.
This financial injection continues the company’s 2026 momentum, kicked off with a major CDR agreement inked with Microsoft in January, for the delivery of over 100,000 tonnes of carbon removal during a period of 3 years.
Set out on a mission of building CDR projects in both Asia and Africa, Varaha has raised approximately $33 million in equity financing, as well as $35 million in project financing and $500,000 in grant support to date.
The company shares that so far, this backing has helped remove over 2 million tonnes of CO2 across 14 operational projects, generating about 150,000 CDR credits.
Through its projects, Varaha partners with local farmers, who are guided on adopting sustainable agriculture and forestry practices, delivering both environmental results and high-quality carbon removal credits that are verified by leading market registries.
Relevant: Microsoft Continues Its CDR Purchase Streak With New Deal Signed With Varaha
Since its establishment in 2022, Varaha has emerged as one of the top 3 suppliers of durable CDR on the voluntary carbon market and has made headlines by becoming the first company in India to issue biochar carbon credits and the first one in Asia to issue ERW credits through an international registry.
With the financing secured in the latest round, Varaha will work on scaling carbon removal projects in the Global South, aiming to position itself as a more affordable provider of verified emissions reductions than other, higher-priced options in different parts of the world.
Read more: Varaha Locks In A $30M Investment From Mirova For Its Regenerative Agriculture Project In India
