The climate-tech start-up links up regenerative farming to carbon credits, helping small growers to both heal the land and make some extra cash in the process
Climate-tech startup Varaha, founded in 2022, has come up with an innovative business model that enables small farmers to adopt regenerative practices while also earning extra income by selling carbon credits to companies like Google and Microsoft. More than two lakh farmers in India, Nepal, Bangladesh, and Côte d’Ivoire are participating in the program, with over one lakh signed up for the carbon credit scheme directly through Varaha’s regenerative agriculture and afforestation programs.
From Idea to Incorporation
The company was founded by Ankita Garg, Madhur Jain, and Vishal Kuchanur, who identified the need for farmers to be supported financially to transition to sustainable practices. Garg’s experience at Bayer and Monsanto, Jain’s work to scale digital advisory services at Precision Development, and Kuchanur’s technical expertise, led them to develop a program that makes carbon credit payments an incentive to adopt sustainable practices from the get-go while also improving yields through higher soil fertility. The firm was incorporated in Gurugram in March 2022.
How the Model Works
Field teams and local implementing partners help trainees map and monitor farmers and collect data on their phones using Varaha’s mobile application, Vann. After completing tests and examining the soil, farmers can begin using less intensive tillage methods, applying biochar, practicing agroforestry, or enhancing weathering. Satellites and artificial intelligence track progress, and carbon sequestered is estimated using scientific models. Finally, credits can be issued through carbon registries such as Verra, Gold Standard, and Puro. earth, and funds can be sent to farmers and local partners.
Growth and Recognition
Varaha has removed over 2 million tonnes of CO2 equivalent, improved over 1.1 million acres, and secured a Mirova investment of over $50 million, including a $30 million commitment. Varaha has been featured in the TIME 100 Climate 2024 list and the Forbes Asia 100 to Watch list, as well as a myriad of other prestigious magazines and journals, as it approaches its goal of removing a billion tonnes of carbon from the atmosphere by 2030.
