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Varaha's Green Leap: Secures $8.7 Million Led by RTP Global

Climate technology startup Varaha has secured $8.7 million in its latest funding round, led by RTP Global. Existing investors Omnivore, Orios Venture Partners, and Japanese cooperative bank Norinchukin Bank also participated in the round.

The funding will be used to enhance its technology, expand its team, invest in its supply chain, and enter new markets, including East Africa and Southeast Asia, over the next 18 months, according to a press release from Varaha.

Founded in 2022 by Madhur Jain, Ankita Garg, and Vishal Kuchanur, Varaha collaborates with intermediaries, on-ground partners, and NGOs to reduce carbon emissions in farming practices. This allows large corporations to earn carbon credits or offsets.

Based in Gurugram, the company utilizes technologies like remote sensing, blockchain, and science-based quantification tools and models to offer agriculture solutions that help farmers increase their income. Varaha currently works with farmers in Punjab, western Uttar Pradesh, Nepal, and Bangladesh to improve crop microbial strength, discourage crop residue burning, and enhance soil microbial strength through biological interventions.

Varaha has been contracted to generate 230,000 carbon credits this year and aims to produce 1.2 million carbon credits by the end of FY25 and 2.8 million carbon credits by FY26.

Other notable startups in the climate tech space include Carbon Masters, Climes Inc., Ambee, and Achyutha Innovation.


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