BENGALURU: Here’s some exciting news for the environment and farmers! Varaha, an eco-conscious company, has struck a whopping $30 million deal with French sustainable asset manager Mirova. This stunning investment is set to supercharge Varaha’s Kheti soil-carbon project, spreading its green magic across Haryana and Punjab. This is Mirova’s first carbon investment in India and also their biggest single carbon deal ever! How cool is that? The money will back regenerative farming practices for more than 337,000 small farmers covering a massive 675,000 hectares of land. Now, this investment is a bit different — instead of buying shares, Mirova pays upfront and gets future carbon credits in return. "This is an investment into the project against which Mirova receives carbon credits," Varaha’s CEO Madhur Jain told TOI. "The money comes first, and credits are delivered over the next few years." What’s trending worldwide, Jain says, is a shift towards removal-based carbon credits. "High-quality buyers have moved away from reduction credits," he explains. Removal credits cost more but are more scientifically solid, leading to fresh methods and new registries in the last five years. Varaha doesn’t just stop at regenerative agriculture. It embraces four powerful removal pathways: regenerative agriculture itself, biochar (a type of charcoal that locks carbon), agroforestry on tired lands, and enhanced rock weathering. These methods promise cleaner air and healthier soil. Jain shares, "We run experiments with institutions like IARI Pusa and IIT Kharagpur to understand the net change in carbon from each intervention. Multi-year, high-quality datasets feed into the carbon models we build." Working with small farmers is no cakewalk. Jain says, "Working with smallholder farmers requires deep experience because you cannot disrupt livelihoods." That’s why 36% of Varaha’s team have hands-on agricultural experience, many even with agriculture degrees! Before this big bet from Mirova, Varaha already raised $13 million in equity and $23 million in a mix of equity and credit-linked structures. Their buyers are global giants from tech, aviation, telecom, consulting, and commodities—all outside India. In a cool move earlier this year, Varaha signed a multi-year biochar deal with Google. Today, Varaha runs 13 projects spread across India, Nepal, Bangladesh, and Bhutan. With Mirova’s fresh funds, they aim to grow regenerative farming further and build crop-specific carbon models that fine-tune the eco-impact. This story marks a thrilling chapter in India's battle against climate change—showing how smart farming can bring big bucks and a greener tomorrow!