Varaha, an India-based climate tech startup, has raised $20 million in fresh funding as it looks to scale carbon removal projects from the Global South and position itself as a lower-cost supplier for verified emissions reductions.
The investment marks the first portion of a planned $45 million Series B round led by WestBridge Capital, the venture firm’s first investment in climate tech, with participation from existing investors including RTP Global and Omnivore. Founded in 2022, Varaha has raised about $33 million in equity to date, alongside $35 million in project financing and $500,000 in grants, as it builds carbon removal projects across Asia and Africa.
India has emerged as an increasingly important base for carbon removal projects, offering lower operating costs, deep agricultural supply chains, and a large pool of technical talent as corporate demand for verified removals r
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