Dreamfly Innovations, an innovator in high-power-density battery technology for drones, aviation, and aerospace, has raised $1.4 million (₹12 crore) in its seed funding round. The funding round was led by Avaana Capital, with participation from Sunicon Ventures among other existing investors.
The funds raised will be used to scale production capabilities, team expansion and accelerate research and development of its cutting-edge, sustainable, and fire-resistant battery solutions.
“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,” said 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, said, “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.”
Founded in 2022 by Kajal Shah and Saurabh Markandeya, Dreamfly Innovations specializes in developing high-performance, long-lasting batteries for drones, aviation, and aerospace applications. Leveraging expertise in advanced cell technologies, including lithium-based chemistries, graphene, and supercapacitors, Dreamfly delivers energy solutions that are reliable, safe, and sustainable.
Dreamfly Innovations’ current customers span from Tata Advanced Systems (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, a wholly owned subsidiary of RattanIndia Enterprises with its Drone portfolio among other high profile clientele.
