Climate Tech Varaha Secures $45 Million Series B Led by WestBridge Capital

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AuthorKavya Nair|Published at:
Climate Tech Varaha Secures $45 Million Series B Led by WestBridge Capital
Overview

Climate-tech startup Varaha has secured $45 million in a Series B funding round, spearheaded by WestBridge Capital. The capital infusion will drive geographic expansion, bolster scientific measurement and reporting capabilities, and scale a novel industrial partnership model. Varaha already holds long-term carbon offtake agreements with giants like Google and Microsoft.

Climate Tech Varaha Nets $45 Million Series B From WestBridge Capital

Varaha, a climate-tech startup focused on carbon removal projects, announced Tuesday the successful closure of its Series B funding round, raising $45 million. WestBridge Capital led the investment, with an initial tranche of $20 million.

The capital injection is earmarked for aggressive geographic expansion across its operating regions and strengthening its scientific Measurement, Reporting, and Verification (MRV) capabilities. A key focus will be scaling a new industrial partnership model.

This funding builds on Varaha's established success. The company has secured long-term carbon offtake agreements with major U.S. technology firms Google and Microsoft, alongside a significant U.S.-based aviation company.

Varaha develops carbon removal projects through diverse pathways including Biochar, Afforestation, Reforestation and Revegetation (ARR), Regenerative Agriculture, and Enhanced Rock Weathering (ERW).

Returning investors also demonstrated strong confidence. RTP Global, which led Varaha’s Series A, participated with a super pro-rata investment. Omnivore, an early-stage investor, also joined the round.

Founded in 2022 and headquartered in Gurgaon, India, Varaha currently manages over 20 carbon projects spanning India, Nepal, Bangladesh, Bhutan, and Ivory Coast.

Looking ahead, Varaha is launching the Varaha Industrial Partners Program (VIPP). This biochar-focused initiative aims to collaborate with industrial operators globally that possess gasification capabilities and access to sustainable biomass. VIPP will provide partners with Varaha’s expertise in digital MRV and carbon credit origination.

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