Kering-Backed Mirova Invests $30.5M in Varaha's Regenerative Farming Revolution

Mirova, a French climate-focused investment firm backed by Kering and other corporate heavyweights, has made a significant investment in Indian climate tech startup Varaha. The investment of $30.5 million (€26.4 million) will help expand Varaha's regenerative farming program, supporting hundreds of thousands of smallholder farmers in northern India. The investment is notable not only for its size but also for its structure. Rather than taking equity, Mirova is investing cash and will receive a share of the carbon credits generated by Varaha's regenerative farming program over time. This arrangement is part of Mirova's carbon investment strategy, which channels corporate capital into verified emissions-reduction projects. The investment marks Mirova's first foray into carbon investing in India, and it is a significant step in the company's efforts to support the transition to a more sustainable agricultural sector. Regenerative farming, which involves practices such as crop rotation and reduced tillage to restore soil health and enhance biodiversity, is gaining traction as a practical approach to making agriculture more sustainable. Varaha's regenerative farming program has the potential to make a significant impact on the environment. By supporting hundreds of thousands of smallholder farmers in northern India, the program can help reduce greenhouse gas emissions, improve soil health, and enhance biodiversity. The program also has the potential to improve the livelihoods of farmers, who will benefit from increased crop yields and improved soil quality. Mirova's investment in Varaha is part of a broader trend in the investment industry towards sustainable and impact investing. As companies and investors increasingly prioritize environmental, social, and governance (ESG) factors, the demand for sustainable investment opportunities is growing. Mirova's carbon investment strategy is well-positioned to capitalize on this trend, and the investment in Varaha is a significant step in the company's efforts to support the transition to a more sustainable agricultural sector. The investment is also notable for its backing by some of the world's leading companies, including Gucci parent Kering, Orange, LOccitane Group, Capgemini, Unibail-Rodamco-Westfield, and MANE. These companies are seeking to offset supply-chain emissions through credible carbon initiatives, and Mirova's investment in Varaha is a key part of this effort. Looking ahead, Mirova's investment in Varaha has the potential to make a significant impact on the environment and the agricultural sector. As the demand for sustainable investment opportunities continues to grow, Mirova is well-positioned to capitalize on this trend and support the transition to a more sustainable agricultural sector. The investment in Varaha is a significant step in this effort, and it has the potential to make a lasting impact on the environment and the livelihoods of farmers in northern India.