Varaha raises $45 million in Series B round led by WestBridge Capital

Climate-tech firm to use fresh capital to expand globally, deepen science capabilities and scale biochar-focused industrial partnerships

Homegrown climate-tech company Varaha on Wednesday announced a $45 million Series B funding round led by WestBridge Capital, marking the private equity firm’s first investment in the climate-tech space. RTP Global, which led Varaha’s Series A round, also participated in the latest funding.

 

The company said the fresh capital will be used to accelerate geographic expansion, strengthen its scientific capabilities, and scale a new industrial partnership model that extends its carbon removal capabilities to partners globally.

 

As part of its next phase of growth, Varaha is launching the Varaha Industrial Partners Program (VIPP), a biochar-focused partnership model aimed at industrial operators worldwide.

 

Varaha develops carbon removal projects across four pathways: biochar; afforestation, reforestation and revegetation (ARR); regenerative agriculture; and enhanced rock weathering (ERW).

 

On the commercial front, the company said it has executed long-term carbon offtake agreements with US technology majors Google and Microsoft, as well as a large US-based aviation company.

 

Commenting on the funding and the launch of VIPP, Madhur Jain, chief executive officer and co-founder of Varaha, said, “This round reflects the continued confidence of investors and customers in Varaha’s science-led carbon removal solutions and our ability to scale them globally. With VIPP, we’re opening our platform to industrial partners worldwide. If you have biomass and gasification capabilities, we can help you generate verified carbon removal credits.”

 

Speaking on the investment, Sandeep Singhal, co-founder and managing partner of WestBridge Capital, said, “Varaha has built what very few companies globally have: deep scientific credibility in a nascent industry alongside a commercially viable business model. We believe Varaha is uniquely positioned to build a global carbon-removal platform from India, combining integrity, scale and impact.”