1. Mirova, a French investment firm backed by corporate heavyweights like Kering, has invested $30.5 million in Indian climate tech startup Varaha. This investment will support Varaha's regenerative farming program, helping hundreds of thousands of smallholder farmers in northern India.

2. The investment is unique as Mirova is not taking equity but will receive carbon credits generated over time instead. This aligns with Mirova's strategy to channel corporate capital into verified emissions-reduction projects.

3. Varaha, founded in 2022, designs and operates carbon projects in regenerative agriculture, agroforestry, and biochar. The startup aims to combat climate change, especially in India where many farmers face declining soil fertility and erratic rainfall. The Mirova investment will help Varaha procure machinery needed for implementing regenerative practices.