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Posted: November 21, 2025
Varaha has received a $30 million investment from sustainable finance firm Mirova to expand regenerative agriculture and soil carbon projects across India. The funding will accelerate the company’s “Kheti” project, support smallholder farmers, and deepen the impact of high-integrity nature-based carbon removal efforts throughout the Asia-Pacific region.
Varaha has secured a $30 million investment from sustainable investment firm Mirova to massively expand its regenerative farming and soil organic carbon initiatives across India. The agreement marks Mirova’s first carbon removal investment in the country, and its largest nature-based carbon commitment to date, supporting Varaha’s “Kheti” project, which aims to scale regenerative practices across more than 337,000 smallholder farms spanning 675,000 hectares. These farmers will adopt techniques such as direct rice seeding and improved crop residue management, generating verified carbon credits that provide revenue for both Varaha and participating communities while helping advance regenerative agriculture projects in the region.
Mirova said the investment showcases how carbon finance can drive agricultural transformation and improve climate resilience for rural communities, opening doors to expand similar nature-based solutions across the Asia-Pacific region. For Varaha, the deal represents the largest investment to date within the soil carbon removal category and highlights the importance of two critical issues: smallholder farmers, who help feed more than one-third of the global population, and soil carbon as a core climate solution. Founded in 2022 by Madhur Jain, Ankita Garg, and Vishal Kuchanur, the company focuses on partnering with smallholder farmers across South Asia to generate high-quality carbon credits through regenerative agriculture, biochar, enhanced rock weathering, and emerging afforestation pathways.
This latest agreement follows a milestone earlier in 2025, when Varaha and Charm Industrial each signed 100,000-metric-ton biochar offtake deals with Google, then the largest biochar agreements ever signed. While that record has since been surpassed by Microsoft’s 1.24 million-metric-ton deal, the momentum has helped position Varaha as the largest carbon project developer in Asia. Jain noted that he hopes this new benchmark for soil carbon removals is exceeded soon, saying that rapid progress is essential to building investor confidence and proving that regenerative agriculture projects represent a bankable, scalable pathway for long-term climate action.
