April 16

IMC invested in Varaha to create high-quality carbon credits while lifting local communities

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IMC (Octave Wellbeing Economy Fund) recently invested in the climate tech startup Varaha through its Series A financing round. This marks the first investment for OWEF, which has a mandate to focus agritech, foodtech, sustainability and mental well-being.

Varaha is an India-based cleantech startup that generates verified, high-quality carbon credits by developing Nature-based Solutions (NBS) and quantifying greenhouse gas emissions through field research and remote data gathering. It leverages core technologies such as remote sensing via satellite, biochemical models, and machine learning to create value for all stakeholders in the value chain.

Since its inception, Varaha has made significant strides, onboarding more than 80,000 farmers, covering over 700,000 acres of land. As a result, it has sequestered over 1,700,000 tonnes of CO2 and saved 750,000 million liters of water. Varaha's nature-based portfolio spans Afforestation, Reforestation & Revegetation (ARR) projects, regenerative agriculture, and its pioneered biochar production. With the latest investment, Varaha will continue its expansion and create a more significant impact closely aligned with its vision.

Besides the unique technological capabilities Varaha has developed, we are particularly attracted by its focus on real impact for the farmers involved in the process. Currently, Varaha allocates 65% of the carbon credit sales to the farmers and 10% to local partners. This is crucial for us, as it creates an impact for local communities, ensuring the long-term success of a sustainable future.

IMC is excited to witness Varaha's future development and the potential opportunities to cooperate on future nature-based projects, as IMC is highly committed to sustainability and the wellbeing of people. We believe the future lies in our hands, and we all need to cooperate to achieve the ambitious goals we have set for ourselves. If you are interested in Varaha's work, please reach out to madhur.jain@varahaag.com.


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