The Series B round was led by Nandan Nilekani's Fundamentum Partnership, with participation from Aditya Birla Ventures. Existing backers Z47, RTP Global, and Lightspeed also doubled down in the round.
Varaha leverages carbon markets and climate-smart agriculture to help smallholder farmers reduce emissions, improve soil health, and earn income through nature-based solutions across India, Nepal, Bangladesh, and Kenya.
The fresh funds will be used to expand globally, strengthen its Asian presence, scale infrastructure, develop new products, and launch a GenAI-powered enterprise suite for mixed reality (MR) tools.
The funding will be directed towards enhancing its tech-enabled platform, which sources, finances, and monitors distributed projects in clean energy sectors. Additionally, the startup aims to attract top talent and build a world-class team.
The Gurugram-based startup aims to deploy the raised funds for geographical expansion to 40 new countries. A portion of the funds will also go toward hiring personnel and developing new technologies.
With the newly raised funding, the Noida-based startup aims to scale up its technology platform, attract top talent, and expand business operations four to five times.
The Gurugram-based startup will use the raised funds to increase its geographic presence in Southeast Asia and Sub-Saharan Africa and bolster tech and scientific capabilities.