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In a major push for climate action in South Asia, Varaha, an India-based carbon removal company, has secured a multimillion-dollar investment from UK-based Conductor Capital. The funding will enable Varaha to expand its carbon projects across India and Nepal, benefiting thousands of farmers while enhancing regional climate resilience.
RELEVANT SUSTAINABLE GOALS
The investment marks a milestone in scaling nature-based carbon removal initiatives, a sector that has gained global prominence as businesses and governments race to meet net-zero commitments. Varaha has pioneered the implementation of technology-driven carbon projects, focusing on regenerative agriculture, agroforestry, biochar, and enhanced rock weathering—all designed to reduce greenhouse gas emissions.
Scaling Carbon Projects Across South Asia
Since its founding in 2022, Varaha has developed 14 large-scale carbon projects across India, Nepal, Bangladesh, and Kenya. These projects have:
- Transitioned over 100,000 smallholder farmers to sustainable practices
- Removed more than two million tonnes of CO₂e from the atmosphere
- Expanded the use of biochar, afforestation, and rock weathering technologies
The latest funding will allow Varaha to scale up operations in India and Nepal, ensuring that more farmers have access to low-carbon agricultural solutions while strengthening climate resilience.
Google’s First Large-Scale Carbon Credit Purchase in India
Varaha is recognized as a pioneer in India’s carbon credit market. In January 2025, the company sold 100,000 carbon dioxide removal (CDR) credits to Google, marking the tech giant’s first-ever large-scale purchase of carbon removal credits in India. The credits were issued under the Puro.Earth registry, where Varaha became the first Indian companyto generate biochar carbon removal credits.
“This investment from Conductor Capital is transformative for Varaha,” said Madhur Jain, Co-founder of Varaha. “It represents a significant endorsement of our model and highlights the urgent need for scalable environmental solutions. We are excited to lead the way in creating sustainable climate solutions that support farmers, biodiversity, and long-term carbon removal.”
For Conductor Capital, a UK-based energy-focused investment firm, Varaha’s approach to carbon removal offers a compelling mix of environmental and social benefits.
“We are excited to support Varaha’s innovative approach to carbon project development,” said Marcello Romano, Chief Investment Officer of Conductor Capital. “Our investment reflects our commitment to backing solutions that offer substantial climate and community impact. Varaha’s tech-driven platform, combined with its strong implementation expertise, makes it an ideal partner for driving large-scale climate action.”
The Future of Carbon Removal in South Asia
As carbon markets gain momentum worldwide, Varaha is poised to play a leading role in India and Nepal’s transition to a low-carbon economy. The company’s projects not only reduce emissions but also:
- Improve farmer livelihoods by promoting climate-smart agriculture
- Enhance biodiversity through reforestation and soil regeneration
- Provide scalable carbon removal solutions aligned with global net-zero goals
Backed by investors such as RTP Global, Omnivore, AgFunder, Norinchukin Bank, IMC Ventures, and Better Capital, Varaha’s mission is to permanently remove carbon from the atmosphere while making sustainable agriculture profitable for farmers.
With the new funding from Conductor Capital, Varaha is set to expand its climate solutions across South Asia, helping governments, businesses, and communities accelerate their carbon reduction efforts—one farm at a time.
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