Varaha

Emerging

Raised $20M first tranche of $45M Series B (Jan 2026) led by WestBridge Capital. Profitable. Google and Microsoft offtake agreements. 170,000+ farmers across 1.7M acres.

Carbon Removal / Regenerative Agriculture (India)
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Updated April 2026

Company Overview

About Varaha

Varaha is the leading carbon credit developer from the Global South, working with 170,000+ smallholder farmers across 1.7 million acres in India, Nepal, Bhutan, Bangladesh, and Ivory Coast to generate verifiable carbon removal credits from regenerative agriculture practices. The company raised $20 million as the first tranche of a $45 million Series B led by WestBridge Capital in January 2026, and has secured offtake agreements with Google and Microsoft.

Business Model & Competitive Advantage

Varaha's cost structure is dramatically lower than Western direct air capture or nature-based carbon removal providers, making it increasingly price-competitive in global voluntary carbon markets while delivering verifiable, additional climate benefits. The model also provides direct economic benefits to smallholder farmers — who receive income for adopting soil health practices — creating a genuine development impact alongside the carbon removal mandate.

Competitive Landscape 2025–2026

The company's profitability ahead of its Series B close is an exceptional signal for a carbon market participant, where most competitors rely on offtake advances to fund operations. The combination of Fortune 500 offtake buyers (Google, Microsoft), WestBridge Capital backing, and farmer network moat positions Varaha on an IPO trajectory as carbon markets mature through the Paris Agreement compliance cycle.

Revenue
$20M
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Key Differentiators

Emerging Innovator

Varaha is an emerging player bringing innovative solutions to the Climate Tech market.

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