A Closer Look at Varaha’s Mission to Promote Sustainable Farming Practices in Asia and Africa
In a groundbreaking development, Varaha, an India-based climate tech company, has secured an impressive $8.7 million in Series A funding. This investment, spearheaded by RTP Global, signifies a significant step forward in Varaha’s quest to empower smallholder farmers across Asia and Africa.
Background:
Established in 2022 by Madhur Jain, Ankita Garg, and Vishal Kuchanur, Varaha draws its name from the Hindu deity Vishnu’s avatar, symbolizing the restoration of the Earth. With a collective background in agriculture, biotech, and software, the founders aim to tackle the substantial contribution of agriculture to global emissions and its disproportionate impact on smallholder farmers.
Breaking the Vicious Cycle:
Varaha’s core mission is to break the “vicious cycle” that traps smallholder farmers and replace it with sustainable practices leading to emissions reduction and improved soil health. The company achieves this by offering end-to-end project development for carbon credits, supporting farmers in transitioning to climate-friendly farming methods.
Understanding the Varaha Platform:
Varaha’s platform is built on three fundamental components
1. Data Collection:
Varaha gathers ground-level data by marking farmers’ boundaries, identifying crops, and documenting farming practices.
2. Validation:
Utilizing remote sensing and machine learning, Varaha verifies the actual implementation of sustainable farming practices.
3. Quantification:
Varaha measures emissions reductions and sequestration, ensuring that farmers receive 60-65% of the carbon credit value.
Creating Systemic Change:
Varaha goes beyond mere carbon credit generation. It aspires to instigate a systemic change in input use, soil fertility, and production, resulting in a remarkable 29% increase in farmers’ income. The company underscores the pivotal role of carbon credits as an initial incentive for farmers to adopt sustainable practices, ultimately making them financially viable.
Global Impact and Collaborations:
Varaha has already enrolled over 700,000 acres of land across India, Bangladesh, Nepal, and Kenya, collaborating with more than 100 partners. Noteworthy clients include Climate in Denmark, Good Carbon in Germany, and Carbon Future in Switzerland, with growing interest from the United States.
Future Endeavors:
The recently secured funds will propel Varaha’s expansion in Asia and East Africa, facilitating the onboarding of additional smallholder farmers. The company plans to enhance its technology and science capabilities to meet the escalating demand for high-quality carbon credits.
Conclusion:
Varaha’s innovative approach to agricultural decarbonization, supported by cutting-edge technology, underscores the potential of nature-based solutions in driving meaningful change. With a steadfast commitment to a greener and more equitable future, Varaha is well-poised to play a significant role in global climate action and carbon reduction efforts.
