Mirova, a climate-focused investment firm, has invested $30.5 million in Indian climate tech startup Varaha to expand its regenerative farming program, benefiting smallholder farmers in northern India. This investment, Mirova's first carbon investment in India, involves cash in exchange for a share of carbon credits generated over time. Varaha, founded in 2022, focuses on regenerative agriculture, agroforestry, and biochar projects, utilizing a network of local partners and real-time monitoring software. The investment will support Varaha’s Kheti project, which encourages low-emission practices among farmers in Haryana and Punjab. Varaha also promotes direct seeding of rice and incorporating crop residue into the soil, reducing the need for burning stubble. The credits generated will be verified using Verra’s VM0042 methodology, with proceeds directed to farmers. Additionally, Varaha has partnered with Google for a biochar carbon removal deal and has raised $12.7 million in venture funding.