India's Varaha bags $20M to scale carbon removal from the Global South [TechCrunch]
SWISS RE LTD S/ADR (SSREY)
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Source: TechCrunch
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 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, deep agricultural supply chains, and a large pool of technical talent as corporate demand for verified removals rises, including from companies facing growing energy use from data centers and AI workloads. Varaha is positioning itself to capitalize on those advantages, arguing that its execution-focused model allows it to deliver carbon removal at lower cost while meeting the same international verification standards as higher-priced competitors in Europe and
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