Iora Ecological Solutions (IORA), an Indian enterprise focused on Nature-based Solutions (NbS) for climate action and ecosystem conservation, has raised ₹8.5 crore (or $1 million) in debt funding from Caspian Impact Investments (Caspian Debt).
The funds raised will be used to scale its flagship MegCare agroforestry and land restoration program in Meghalaya, which focuses on restoring degraded landscapes, improving forest cover, and enhancing rural livelihoods through sustainable agroforestry practices.
Founded in 2009 by Swapan Mehra, IORA is an environmental advisory firm with multidisciplinary expertise in environmental finance, policy, research, and project implementation. It claims to have executed over 200 global projects spanning 20 million hectares across 27 Indian states, 2 UTs, and regions in Southeast Asia, Africa, and South America.
MegCare (Meghalaya Carbon Agroforestry for Community Resilience and Ecosystems) is a 30-year-long community-led initiative promoting sustainable land use, biodiversity, and carbon sequestration.
Implemented in partnership with the Meghalaya Basin Development Authority (MBDA), a state government agency, it also drives long-term socio-economic benefits for local communities and smallholder farmers.
Spanning 1,50,000 hectares of land and targeting over 25 million tonnes of CO₂ sequestration, MegCare is poised to become India’s largest carbon removal program.
It will directly benefit 80,000 smallholder farmers across Meghalaya through a carbon finance model that links ecosystem restoration with sustainable income generation creating long-term livelihood opportunities and socio-economic upliftment in the region.
The CRUs, or verifiable carbon credits generated through land restoration in the MegCare program, will be monetised in global carbon markets, enabling long-term value creation.
Sampath Kumar, IAS, Principal Secretary & Development Commissioner, Government of Meghalaya, said, “This investment by Caspian Debt to IORA, supported by Rabo Foundation, marks an important milestone for the MegCare program. It will help build on the partnership between MBDA, IORA and Rabobank ACORN, and go a long way in contributing towards the State’s vision to restore the lands of Meghalaya’s communities and ensure they get the optimum value and returns for their efforts in climate action.”
Swapan Mehra, Founder and CEO of Iora Ecological Solutions, said, “We are excited to operationalise a pioneering carbon-linked financing model that integrates nature-based solutions with measurable climate impact. This collaboration strengthens our partnership with the Government and communities of Meghalaya, and accelerates agroforestry initiatives that enhance carbon stocks, springshed health, and ecosystem resilience.”
Sai Pramodh, Business Head at Caspian Debt, said, “This partnership reflects Caspian’s commitment to backing innovative, high-impact solutions that address climate and community needs. IORA brings unmatched technical depth and execution ability, and with the guidance of Rabo Foundation, we are proud to enable a financing model that restores ecosystems while unlocking long-term value from carbon markets.”
