Varaha raises $20 million to scale carbon removal projects in India

GURUGRAM, February 5, 2026 – Indian carbon project developer Varaha has secured USD 20 million in the first tranche of a USD 45-million series B financing round to expand its carbon dioxide removal operations, Argus reported on Wednesday.

The USD 20-million lead investment came from private equity firm WestBridge Capital and will help support Varaha’s efforts to reinforce its scientific research and improve its measurement, reporting and verification (MRV) systems, as well as scale its operations internationally.

Varaha develops four types of carbon removal projects: biochar, afforestation, regenerative agriculture and enhanced rock weathering. The company has long-term offtake agreements with Microsoft, Google and Lufthansa, among others.

“Varaha has built deep scientific credibility in a nascent industry alongside a commercially viable business model,” said WestBridge co-founder and managing partner Sandeep Singhal.

Other participants in the round are RTP Global, which led Varha’s series A funding, and Omnivore, an agritech investment firm that was also an early-stage investor.

Through the Varaha Industrial Partners Programme (VIPP), the company offers MRV systems, sensors and training to industrial companies with gasification capabilities and access to sustainable biomass to assist in generating and marketing carbon credits.

Programme participants include agricultural companies in India and Africa, as well as an Indian steel company. In 2025, the company sold 100,000 CDR credits to Microsoft, 100,000 to Google and 30,000 to commodities trading firm Louis Dreyfus.

Photo courtesy of Varaha

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