Dreamfly Innovations, India’s leading innovator in high-power-density battery technology for drones, aviation, and aerospace, has successfully raised 1.4 Million $ (INR 12 crore) in its seed funding round. The funding round was led by Avaana Capital, with participation from Sunicon Ventures among other existing investors.
Dreamfly Innovations’ current customers span from Tata Advanced Systems Ltd. (TASL) – Tata Group’s strategic entity in the Aerospace industry; to Larsen & Toubro Limited (L&T) which offers indigenous solutions to drive innovation for Aerospace customers worldwide; General Aeronautics – a pioneering drone technology company specialising in precision spraying and agriculture; Neosky India Ltd, a wholly owned subsidiary of RattanIndia Enterprises Ltd. with its Drone portfolio among other high profile clientele.
The current round of investment will accelerate Dreamfly’s efforts to scale production capabilities, team expansion and accelerate research and development of its cutting-edge, sustainable, and fire-resistant battery solutions. As a pioneer in high-performance, long-lasting battery designs, Dreamfly is redefining energy solutions for drone, aviation, and aerospace applications.
Founded by Kajal Shah and Dr. Saurabh Markandeya in 2022, Dreamfly Innovations combines over a decade long, dual domain expertise in providing cutting edge clean energy and mobility solutions. Both Shah and Markandeya are two-time entrepreneurs and alumni of IIT Bombay and IISc respectively. With two patents filed, they are committed to pioneering fire-resistant and efficient thermal battery technologies.
“With the global drone market projected to reach $54 billion by 2025, India stands to capture a substantial share, potentially reaching $4.2 billion and expanding to $23 billion by 2030, as per the EY-FICCI report ‘Making India the drone hub of the world.’ The biggest challenge that India faces is the lack of a component ecosystem for drones due to which the domestic manufacturers have to depend on imported materials,” says Kajal Shah, Co-Founder & CEO Dreamfly Innovations.
“As drones gain traction across sectors such as agriculture, geospatial mapping and logistics, the demand for reliable, high-performance batteries has surged. However, another issue is that drone OEMs face significant challenges in adapting to evolving battery technologies, addressing limited lifespans, and resolving safety concerns. Dreamfly Innovations is poised to tackle these challenges with patented thermal battery case designs and advanced cell stack innovations, effectively tackling the core concerns of drone developers. This funding round marks a significant milestone in our journey to create sustainable and innovative products that meet the evolving demands of the market,” Shah added.
Swapna Gupta, Partner at Avaana Capital, expressed her confidence in Dreamfly’s vision, “The rise in electrification to combat climate crisis and eliminating fossil fuels in industries such as transportation, agriculture among others is leading to unprecedented battery demand. Dreamfly’s cutting-edge battery solutions which improve battery life and safety align perfectly with our fund’s ideology of building a low-emission pathway towards development of the drone ecosystem. Such high-quality offerings will not only propel ‘Aatmanirbhar Bharat’ initiatives further but position India as tech powerhouse building for the world . We are excited to support Kajal & Dr. Saurabh and their team as they redefine the drone ecosystem.”
The drone value-chain spans across manufacturing and value-added service components, impacting a large spectrum of industries and end-users, thereby having a significant manufacturing potential. Hence the push to discover higher-performance batteries, with resilient supply chains, to lay the foundation for an electrified world. This is precisely where Dreamfly Innovations makes a dent.
Key Highlights:
- Thermal Case Design: Reduces operating temperatures by up to 20°C, significantly lowering fire risks and enhancing reliability.
- Lightweight Cell Stack Designs: Improves electrical efficiency while reducing drone weight for optimized performance.
- Sub-Zero Temperature Batteries: Designed for high-altitude drone and mobile applications, featuring passive thermal systems that operate efficiently in temperatures as low as -30°C.
- Sustainable Graphene Batteries: Introducing India’s first non-explosive, high-performance graphene battery, purpose-built for agricultural drones.
- Under its EIONIC brand, Dreamfly offers smart drone batteries tailored to diverse applications, including agriculture, terrain mapping, surveillance, and logistics. These innovations align with the Government of India’s Atmanirbhar Bharat initiative by reducing dependency on imported batteries and fostering domestic technological advancements.
