Dreamfly Innovations
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Overview
Dreamfly Innovations is an innovative company focused on developing high-power-density and fire-resistant battery technology, particularly for drones, aviation, and aerospace applications. Founded in 2022 by Kajal Shah and Dr. Saurabh Markandeya, alumni of IIT Bombay and IISc, the company is headquartered in Bengaluru, India. Dreamfly specializes in creating lightweight, efficient battery solutions that address the challenges of limited lifespans and safety in battery technology. As of early 2025, the company has raised $1.4 million in seed funding led by Avaana Capital, with participation from Sunicon Ventures and additional investors.
Recent Developments
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February 2025: Dreamfly Innovations announced the securing of $1.4 million in seed funding. This funding round was led by Avaana Capital and included participation from Sunicon Ventures and other existing investors. This capital injection aims to enhance production capabilities, expand the team, and accelerate the research and development of sustainable and fire-resistant battery solutions.
- The funding will enable Dreamfly to position itself in India’s expanding drone market, addressing the significant demand for improved battery life and safety as drones become increasingly popular across sectors like agriculture, geospatial mapping, and logistics.
- Kajal Shah, Co-founder and CEO, emphasized the critical need for developing a robust component ecosystem in India to reduce reliance on imported materials, aligning with India’s vision of becoming a global hub for drone technology by 2030.
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2024: Dreamfly was recognized as one of Forbes India's 100 startups to watch in 2023, an acknowledgment of its innovative contributions to the drone technology space.
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September 2023: Dreamfly Innovations raised $300,000 in an angel funding round led by Rebalance Angel Community, with participation from IIM Ahmedabad's CIIE.CO. This funding was primarily focused on advancing the commercialization of their graphene-based battery products and expanding their team. Graphene technology was highlighted for its non-explosive and long-lasting properties.
Company Information
| Attribute | Information |
|---|---|
| Founding Date | 2022 |
| Headquarters | Bengaluru, India |
| Founders | Kajal Shah, Dr. Saurabh Markandeya |
| Revenue | Not publicly disclosed |
| Profits | Not publicly disclosed |
| Key Investors | Avaana Capital, Sunicon Ventures, Rebalance |
| Industry | Battery Technology, Aerospace, Drone Tech |
| Number of Employees | Not publicly disclosed |
| Major Clients | Tata Advanced Systems, Larsen & Toubro, AAI |
Early History
Dreamfly Innovations was founded in 2022 with the vision to revolutionize energy solutions in the drone and aviation industries. The founders, Kajal Shah and Dr. Saurabh Markandeya, leveraged their extensive experience and expertise in clean energy and mobility solutions to address challenges in battery technology such as safety and efficiency.
Starting initially with a small team, Dreamfly quickly focused on research and development in cutting-edge battery solutions, filing two patents related to fire-resistant and efficient thermal battery technologies. Early success in pilot projects with drone-as-a-service firms in agriculture and geospatial mapping paved the way for their growth and recognition in the industry.
Company Profile and Achievements
Dreamfly Innovations focuses on the development of lithium and graphene-based battery solutions to meet the increasing demand for reliable, long-lasting, and safe power sources in drones and aerospace applications. Its key achievements include:
- Product Development: The development of the EIONIC™, a smart drone battery line that offers a significant increase in power density, safety, and operational efficiency.
- Patented Technologies: The company holds patents for pioneering thermal battery case designs that reduce operating temperatures by up to 20°C, minimizing fire risks.
- Client Base: Dreamfly serves major clients such as Tata Advanced Systems and Larsen & Toubro, providing customized battery solutions for diverse applications including agriculture and logistics.
- Recognition: Awarded at the Aegis Graham Bell Awards for its innovative thermal management solutions in 2023.
Current Operations and Market Position
Dreamfly Innovations is actively engaged in expanding its production capabilities and research areas to maintain its competitive edge in the growing global drone market. With a focus on sustainability and efficiency, Dreamfly's batteries support drones capable of enduring extreme temperatures, making them suitable for high-altitude and specialized industrial applications.
The company occupies a strategic position in the Indian drone technology sector, contributing to 'Atmanirbhar Bharat' by providing domestically manufactured advanced energy solutions. Dreamfly continues to innovate in battery chemistry to reduce weight, enhance energy density, and lower fire risks, making it a key player as India strengthens its drone industry framework.
Conclusion
Dreamfly Innovations plays a crucial role in advancing battery technology in the aerospace sector, aligning with India's ambitions to become a global drone technology leader. As it navigates the evolving landscape with innovative products and strong financial backing, Dreamfly is well-positioned to capitalize on emerging opportunities in energy solutions. The continued emphasis on R&D and strategic partnerships is likely to drive their growth further, supporting India's journey toward self-reliant technology advancements in the drone ecosystem.