Just Climate makes third investment from Natural Climate Solutions strategy, acquiring a stake in AgroStar, an Indian platform enabling agricultural transformation at scale
London, 25 November 2025
Just Climate, a specialist investment business established by Generation Investment Management focused on scaling solutions for the highest-emitting, most off-track sectors of the economy, today announced that it has secured $375 million to date from global institutional investors to accelerate investment in natural climate solutions.
Just Climate’s Natural Climate Solutions strategy is backed by a diverse set of institutional investors including pension funds, asset managers and global financial institutions such as Achmea Investment Management, the Environment Agency Pension Fund and Royal Bank of Canada.
Just Climate also confirmed it has invested in AgroStar, a leading Indian agritech platform that helps millions of smallholder farmers improve their income and livelihoods through climate-resilient practices and products.
Just Climate’s Natural Climate Solutions strategy focuses on scaling products and services that can transform the way we use land, bringing together a team with experience in growth equity investing, complemented by expertise in science, policy, impact measurement and business operations. The strategy aims to deliver attractive financial returns through highest climate and nature impact.
Through its investments, the strategy aims to drive transformation in the land use, water and waste sectors to achieve global net-zero and nature positive goals. Currently, the way land is managed accounts for roughly one third of global greenhouse gas emissions and is the primary driver of biodiversity loss. Transforming how land is used, food is produced, water is managed, and waste reduced and utilised unlocks a set of scalable investment opportunities, from biological fertilisers and pesticides to replace chemicals, to development models to finance and operate restoration projects, to technologies that verify carbon, water and biodiversity outcomes with integrity and transparency.
Just Climate’s investment in AgroStar seeks to bring this to life. India is the world’s second-largest agricultural producer but faces critical challenges: climatic variability and water scarcity are intensifying, while the overapplication of chemical fertilisers has led to rising greenhouse gas emissions and the degradation of soil health and biodiversity. Yields of Indian farms remain below the global average and farmer incomes have failed to keep up with wider economic growth.
AgroStar addresses the root causes of agricultural inefficiency and environmental degradation by working directly with over ten million farmers through its digital platform and network of roughly 10,000 retail stores. The company has a portfolio of high-quality own-brand products, including superior seeds and biological alternatives to chemical fertilisers, that are offered alongside real-time agronomic advice, channel credit and market linkage solutions. AgroStar’s customers achieve higher yields and lower input costs, and independent surveys show these economic gains come with significant reductions to chemical fertiliser, pesticide and water use. Just Climate’s investment will help AgroStar accelerate the expansion of its store network and broaden its product range to serve more farmers across India.
In November 2024, Just Climate’s Natural Climate Solutions strategy welcomed California State Teachers’ Retirement System (CalSTRS) as its institutional anchor and Microsoft’s Climate Innovation Fund as its corporate anchor.
In January 2025, Just Climate’s Natural Climate Solutions strategy announced its first two investments: in NatureMetrics, a leading UK-based biodiversity monitoring company, and GreenLight Biosciences, a leader in next generation biosolutions for agriculture.
Clara Barby CBE, Senior Partner of Just Climate, said: “We are proud to welcome a diverse group of partners who share our conviction that investing in the land transition is essential to building a sustainable economy. Together, we can scale solutions that deliver measurable impact for climate, biodiversity and people. With initiatives like our investment in AgroStar, we are demonstrating how nature-based solutions can drive climate-resilient growth in India and other emerging markets.”
Becky LeAnstey, Investment Manager at Environment Agency Pension Fund, said: “Climate and nature are inextricably linked. We are excited to partner with Just Climate who not only recognise this but understand the investment opportunities that arise when you protect and enhance nature. They offer opportunities that not only work financially, but also for people and planet.”
Ralph Engelchor, Portfolio Manager Impact Investing at Achmea Investment Management, said: “Achmea Investment Management, on behalf of its clients, is proud to become an investor in the Just Climate Natural Climate Solutions strategy. Investing in natural capital is essential to addressing the dual crises of climate change and biodiversity loss. Through this partnership, we seek to accelerate the transition to a nature-positive economy by supporting scalable, high-integrity projects that deliver measurable environmental impact alongside long-term financial value for our clients.”
Shardul Sheth, CEO and Co-Founder of AgroStar, said: “Indian agriculture stands at a critical juncture – climate variability and degraded soils threaten our farmers’ livelihoods; the need to address these challenges has never been clearer and more urgent. Partnering with Just Climate brings far more than capital; they bring deep expertise in scaling natural climate solutions and the conviction to back businesses driving real systemic change. Their investment further validates our belief that farmer prosperity and environmental sustainability are not competing goals but complementary outcomes. With the Just Climate investment, we will accelerate our mission to empower smallholder farmers across the country with sustainable inputs and advisory services that increase their incomes. Together, we’re not just scaling a business – we’re pioneering a model that proves sustainable agriculture can be the foundation of rural prosperity and climate resilience across the world.”
About Just Climate
Established by Generation Investment Management, Just Climate is a specialist investment business focused on scaling solutions for the highest-emitting, most off-track sectors of the economy. The challenge of achieving a net-zero world and addressing climate-related risk is huge, urgent and needs tremendous mobilisation of capital. Just Climate’s mission is to establish climate-led investing as a capital allocation imperative for institutional investors globally. Just Climate is authorised and regulated by the UK Financial Conduct Authority with Firm Reference Number 1024382. For more information, please visit us at justclimate.com.
About AgroStar
Founded in 2013, AgroStar is a leading AgTech company transforming agriculture for millions of farmers across India. Through its omnichannel platform comprising a network of 10,000+ retail stores, AgroStar delivers comprehensive agricultural solutions including AI powered real-time agronomy advisory, quality farm inputs, and global market access. The company’s portfolio of 200+ products emphasises sustainable farming, featuring organic alternatives that reduce chemical fertiliser dependency, soil water retention solutions, and high-germination seed varieties. By combining agronomy advisory with climate-friendly agricultural products and market access to export produce to 25+ countries under the Kimaye brand, AgroStar enables farmers to increase income while reducing operational costs, staying true to its mission: ‘Helping Farmers Win.’
AgroStar’s vision has attracted support from leading technology and impact investors including Aavishkaar Capital, Accel, Bertelsmann India Investments, British International Investment, Chiratae Ventures, Evolvence India, Hero Enterprise, International Finance Corporation, Just Climate, Rabo Frontier Ventures, and Schroders Capital. For more information visit us at www.corporate.agrostar.in.