Varaha

Positions itself as a lower-cost supplier of verified emissions reductions to corporate buyers.

Generates carbon credits via regenerative agriculture, agroforestry, biochar, and enhanced rock weathering.

Enrolled across India, Nepal, Bangladesh, Bhutan and Ivory Coast to adopt regenerative agriculture, agroforestry and biochar practices.

Global companies that purchase long-term offtake agreements for carbon removal/reduction credits.

Varaha is rolling out an Industrial Partners Program that lets industrial operators with sustainable biomass and gasification capacity use Varaha's own MRV systems to generate and verify their own biochar-based carbon removal credits -- a self-service/co-creation relationship rather than Varaha originating every credit itself.

Alongside direct corporate offtake deals, Varaha maintains arm's-length reseller relationships with carbon credit marketplaces that on-sell its credits to end buyers, including Klimate (Denmark), Good Carbon (Germany), and Carbon Future (Switzerland).

Sells carbon credits directly to corporate buyers via long-term offtake agreements rather than spot-market sales.

Enrolls smallholder farmers through a network of partner organizations across its operating geographies.

Operates a proprietary digital MRV platform combining remote sensing, machine learning and scientific research to quantify and verify greenhouse gas sequestration/reduction.

Issued India's first carbon credits from industrial biochar and Asia's first registry-backed enhanced rock weathering credits.

Varaha employs roughly 225-230 people, including about 55 across technology, science, product and data roles, with more than 80% of the workforce based in India.

Varaha issues and verifies credits through five international registries: Puro.earth, Isometric, Verra, Gold Standard, and Switzerland-based Carbon Standards International.

Varaha has raised about $33 million in equity to date, alongside $35 million in project financing and $500,000 in grants, funding its carbon-removal project pipeline.

Varaha's core technology asset is its own digital measurement, reporting and verification (MRV) system, used to track carbon sequestration progress on every enrolled acre.

International carbon removal registry partner through which Varaha issued India's first carbon credits from industrial biochar.

Sustainable investment firm providing project financing and an offtake agreement for Varaha's Kheti regenerative-farming soil carbon project.

Five-year regenerative farming and carbon-removal partnership covering 12,500 acres of corn farmland and 5,000 smallholder farmers in Maharashtra.

Revenue from delivered carbon credits sold to corporate buyers under long-term offtake agreements.

Varaha's leadership frames India's lower operating costs as a structural advantage for carbon-removal project economics, arguing that a 1.5x-3x higher cost of credit production in wealthier geographies would make survival difficult for developers based there.