PE-VC Fund Investments
Climate-tech co. Varaha raises $30-M from Natixis’ arm Mirova
Mirova, the sustainable investment arm of asset management firm Natixis Investment Managers, has invested USD 30 million in Gurugram-based carbon removal project developer Varaha .Founded in 2022 by Madhur Jain, Ankita Garg and Vishal Kuchanur, Varaha specializes in nature-based solutions, including regenerative agriculture, agroforestry, and biochar projects that claim to promote climate adaptation, biodiversity, water conservation and increased income for smallholder land stewards by partnering with NGOs (non-government organisations), farmer producer organisations (FPOs), and co-operatives.The new funds will be used to expand the Kheti soil project by 10X to 337,000 smallholder farmers across Haryana and Punjab in the next four years. The firm claims to work with 25,000 farmers.
Between Dec 2022 and Jan 2024, Varaha had attracted about USD 12 M from Better Capital, Omnivore Partners, Orios VP, RTP Global, AgFunder, Octave Ventures and others.
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