Latest news with #Varaha
Entrepreneur
25-05-2025
- Business
- Entrepreneur
The Climate Warrior
Varaha leverages carbon markets and climate-smart agriculture to help smallholder farmers reduce emissions, improve soil health, and earn income through nature-based solutions across India, Nepal, Bangladesh, and Kenya. Opinions expressed by Entrepreneur contributors are their own. You're reading Entrepreneur India, an international franchise of Entrepreneur Media. Working closely with Indian farmers at Bayer and Monsanto, Ankita Garg saw their daily struggles—climate shocks, small landholdings, and limited resources—unlike the mechanized, well-supported farms in the US and Europe. This disparity ignited her mission to co-found Varaha in 2022, leveraging carbon markets and climate-smart agriculture to transform sustainability into economic opportunity for smallholder farmers. "Varaha addresses the pressing issues of climate change and food security by reducing agricultural emissions and improving soil health through nature-based solutions,"said Ankita Garg, Co-founder and COO at Varaha. "With the voluntary carbon market projected to exceed USD 100 billion by 2030, Varaha's target market across its operating geographies is estimated at USD 60 billion, offering significant growth potential." Early-stage investors Omnivore and Better Capital were among the first to back Varaha's mission, supporting its seed round. "Their belief in our vision set the foundation for tackling climate change and food security issues," shared Ankita. Since its inception, Varaha has raised USD 13 million in funding from prominent investors such as RTP Global, Orios Venture Partners, Norinchukin Bank, Theia Ventures, Octave Wellbeing Economy Fund, and AgFunder. This financial backing has accelerated Varaha's expansion across India, Nepal, Bangladesh, and Kenya. Today, the startup claims to have onboarded over 100,000 farmers covering one million acres, sequestering over two million tons of carbon. "Being a female entrepreneur was just one challenge—navigating carbon markets meant overcoming skepticism, building scalable MRV systems, and ensuring scientific rigor while staying farmer-friendly," Ankita explained. Her background in biotechnology and corporate experience helped bridge the gap between science, execution, and farmer realities. Despite achieving milestones like securing Series A funding and partnering with Google, challenges remain. "Registry delays that slow credit issuance, affecting farmer payouts and project timelines, continue to be a hurdle," Ankita stated. Looking ahead, Varaha plans to expand its full-stack sustainable agriculture ecosystem, leveraging partnerships, IoT, and satellite technology. With access to over 10 million farmers and 20 million hectares through 100+ partners, it aims to scale its impact globally. Varaha also champions diversity, with 24% of its workforce being women and over 7,000 women empowered through its projects. Financially, the startup has seen exponential growth, with revenues reaching INR 21 crore in FY 2024-25, up from INR 5.8 crore in FY 2023-24 and INR 52 lakh in FY 2022-23. Under Ankita's leadership, Varaha is revolutionising climate-smart agriculture, making sustainability a viable economic pathway for farmers worldwide. Facts:
New Indian Express
01-05-2025
- Climate
- New Indian Express
Seven devotees killed after wall collapses at Andhra's Simhachalam Temple; CM announces Rs 25 lakh ex gratia
VISAKHAPATNAM: Seven devotees lost their lives and several others suffered injuries after a wall collapsed at the Sri Varaha Lakshmi Narasimha Swamy Temple in Simhachalam during the annual Chandanotsavam festival in the early hours of Wednesday. The incident occurred in the Rs 300 queue line where devotees had gathered for the 'Nijaroopa Darshan' of the deity. Officials stated that the wall collapsed due to heavy rainfall that occurred between 2:30 am and 3:30 am. The wall, constructed just 20 days ago, is suspected to have given way due to the downpour. However, the exact cause for the wall collapse is still under investigation. The collapse took place shortly after the temple's hereditary trustee, P Ashok Gajapathi Raju, offered silk robes to the deity as part of the traditional ritual. The deceased have been identified as Kumpatla Manikanta Eswara Sesha Rao (29) and Pathi Durga Prasad Naidu (30), both natives of Korlapativaripalem, Machavaram in Ambajipeta mandal of Konaseema (Dr B R Ambedkar) district and residents of Visakhapatnam; Yedla Venkata Rao (58) from Mamidithota area in Visakhapatnam; Pilla Mahesh (30) and his wife Pilla Sailaja (27) of Chandrampalem in Madhurawada; Sailaja's aunt Gujjari Mahalakshmi (65), a resident of HB Colony; and Sailaja's mother Pyla Venkata Ratnam (45), also from Visakhapatnam. Rescue teams from the National Disaster Response Force (NDRF), State Disaster Response Force (SDRF), fire services, and police were deployed immediately. Visakhapatnam district Collector M N Harendhira Prasad, Police Commissioner Dr Shanka Brata Bagchi, and Home Minister Vangalapudi Anitha visited the site and supervised relief efforts. CM N Chandrababu Naidu expressed deep sorrow over the incident and held a teleconference with ministers A Ramanarayana Reddy, D Bala Veeranjaneya Swamy, Vangalapudi Anitha, A Satya Prasad, MP Bharat, and temple trustee Ashok Gajapathi Raju.
New Indian Express
30-04-2025
- New Indian Express
Eight devotees killed after wall collapses at Andhra's Simhachalam Temple; CM announces Rs 25 lakh ex gratia
VISAKHAPATNAM: Eight devotees died and few others were injured after a wall collapsed at Sri Varaha Lakshmi Narasimha Swamy Temple in Simhachalam during the annual Chandanotsavam festival in the early hours of Wednesday. The incident occurred in the Rs 300 queue line where devotees had gathered for 'Nijaroopa Darshan' of the deity. Officials said the wall gave way after heavy midnight rainfall in the region. The wall, constructed just 20 days ago, is suspected to have collapsed due to heavy rainfall that occurred between 2:30 a.m. and 3:30 a.m. However, the exact cause of the collapse is still under investigation. The incident occurred shortly after the temple's hereditary trustee, Ashok Gajapathi Raju, offered silk robes to the deity as part of the traditional ritual. Of the eight deceased, three were women and five were men. Seven of them died on the spot, while one succumbed to injuries later. 'So far, three victims have been identified through Aadhaar cards. The remaining bodies are yet to be identified and have been kept in the mortuary. Postmortem will begin once their families confirm the identities,' said K. Sivanand, Superintendent of King George Hospital. Three of the deceased are identified as Y. Venkat Rao (55), P. Swamy Naidu (33), and K. Manikanta Eswar (28). Rescue teams from the National Disaster Response Force (NDRF), State Disaster Response Force (SDRF), fire services, and police were deployed immediately. Visakhapatnam District Collector M. N. Harendhira Prasad, Police Commissioner Dr. Shanka Brata Bagchi and home minister Vangalapudi Anitha visited the site and supervised the relief efforts. Chief Minister N. Chandrababu Naidu expressed deep grief over the incident and held a teleconference with ministers Anam Ramanarayana Reddy, Dola Bala Veeranjaneya Swamy, Vangalapudi Anitha, Anagani Satya Prasad, MP Bharat, and temple trustee Ashok Gajapathi Raju. He directed the officials to ensure proper medical care for the injured and announced the formation of a three-member committee to conduct a detailed inquiry into the incident. The Chief Minister also declared an ex gratia payment of Rs 25 lakh each to the families of the deceased and Rs 3 lakh to each injured person. Additionally, one eligible member from each bereaved family will be offered an outsourced job under the Endowments Department. He instructed officials to clear the debris immediately and take necessary steps to prevent inconvenience to devotees. With large crowds expected in the coming days, he also emphasised the need for crowd safety and control measures. Prime Minister Narendra Modi, in a post on X (formerly Twitter), expressed condolences and announced ex gratia relief of Rs 2 lakh for each deceased and Rs 50,000 for the injured from the Prime Minister's National Relief Fund (PMNRF). Deputy Chief Minister Pawan Kalyan described the incident as deeply unfortunate and extended his condolences. He said he had reviewed the situation with local officials and directed them to ensure the injured receive proper treatment. Revenue Minister Anagani Satya Prasad, who visited the temple, stated that the government is extending all support to the affected families. Endowments Minister Anam Ramanarayana Reddy expressed sorrow and said the government has launched a probe into the incident. Meanwhile, the Vishwa Hindu Parishad (VHP) demanded that Visakhapatnam District Collector and Utsav Committee in-charge Ramachandra Mohan be held accountable. VHP State Math-Mandir representative Pudipeddi Sharma criticised officials for allegedly focusing on VIP arrangements at the cost of general devotees' safety. A devotee who narrowly escaped the collapse said, 'It was a close call for me — I had passed through the same spot just three to five minutes before the wall collapsed. We heard a loud crashing sound as the wall came down, and it was truly frightening." Former Chief Minister YS Jagan Mohan Reddy expressed deep sorrow over the tragic deaths of devotees at the Simhachalam Sri Lakshmi Narasimha Swamy Temple during the Chandanotsavam celebrations. He urged the government to provide the best medical care to the injured and extend full support to the families of the deceased. Andhra Pradesh Governor S. Abdul Nazeer expressed deep anguish over the loss of seven lives in the wall collapse incident at the Simhachalam temple during Chandanotsavam. Extending his heartfelt condolences to the bereaved families, the Governor directed the district administration to ensure proper medical care for those injured in the incident. Telangana Chief Minister A. Revanth Reddy also conveyed his condolences and expressed sadness over the incident. An inquiry into the incident is underway, and officials have assured that safety measures will be strengthened to avoid such tragedies in the future.
Yahoo
28-03-2025
- Business
- Yahoo
Google locks in unprecedented purchase of 'black gold' to fuel global solutions: 'It has the ability to scale worldwide'
Google has agreed to a record-breaking deal for "black gold," and its purchase will tackle two environmentally damaging issues at the same time. As detailed by TechCrunch, Google intends to buy 100,000 tons of carbon dioxide removal credits from Varaha, an Indian startup whose biochar is certified on leading crediting platform While there are different varieties of biochar, Varaha produces its black gold from a woody invasive species that has wreaked havoc on plant biodiversity. The startup estimates its industrial biochar could sequester carbon for up to 1,600 years, helping Google offset its growing production of planet-warming pollution, which is associated with its development of artificial intelligence. In its 2024 Environmental Report, the tech giant highlighted how "the positive impact of AI could grow as it contributes to breakthroughs that open new pathways for climate action." Indeed, AI-related research elsewhere is already leading to potentially life-saving breakthroughs in crop optimization and weather monitoring. However, even though Google is proactively working to reduce the environmental toll of its power-hungry AI operations, including by expanding its low-carbon and clean-energy portfolio, it says its pollution has climbed nearly 50% since 2019, with data-center energy consumption one of the primary factors. Carbon offsets can help mitigate that. The concept isn't without its critics, though. Some argue that the system needs more transparency to ensure programs are effective. Proponents of such initiatives point out companies will create some level of pollution and say it is wise for them to invest in eco-friendly projects. Varaha CEO Madhur Jain told TechCrunch that each ton of his company's biochar accounts for 2.5 carbon credits — "linked to how long carbon can be permanently removed from the atmosphere by compensating for emissions with sustainable activities," per the report. While Google's purchase of Varaha credits to be delivered by 2030 is "minuscule" compared to its carbon pollution, as TechCrunch highlights, the tech company has previously purchased biochar carbon removal credits from Senken and Exomad Green. This agreement suggests Google remains committed to its sustainability aims, and the purchase will support small farmers across India. According to Varaha, its nature-based solutions have removed more than 2.2 million tons of carbon to date, thanks to the assistance of more than 100,000 onboarded farmers. "Biochar is a promising approach to carbon removal because it has the ability to scale worldwide, using existing technology, with positive side effects for soil health," Google carbon removal lead Randy Spock said in a statement. Does seeing a product labeled with its carbon footprint make you more likely to buy it? Definitely Only if the carbon footprint is small Only if I understand the label Not at all Click your choice to see results and speak your mind. Join our free newsletter for good news and useful tips, and don't miss this cool list of easy ways to help yourself while helping the planet.
