India’s Varaha bags $20M to scale carbon removal from the Global South
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,…
