Battery tech startup Dreamfly raises $1.4 million

Indian battery technology startup Dreamfly Innovations has raised Rs 120 million (around USD 1.4 million) in a seed funding round led by Avaana Capital, with participation from Sunicon Ventures and other existing investors.

The Bengaluru-based company plans to utilize the fresh capital to set up a manufacturing unit, expand its team, and accelerate research and development of its battery solutions.

Dreamfly specializes in developing battery solutions for drones, aviation, and aerospace applications, especially in agriculture, terrain mapping, surveillance and logistics.

“The entire world is moving toward electrification, and at the heart of this, batteries remain a pain point even today,” founder Kajal Shah told the Economic Times. “We are also going to see exponential growth in the aviation and aerospace industries. However, when it comes to batteries for aviation and drones, this remains a technological challenge, with limited solutions available.” 

Dreamfly’s battery solutions have a thermal case design that reduces operating temperatures and lowers fire risks. The batteries are also lightweight, enhancing efficiency.

The company says its batteries can operate at temperatures ranging from -30°C to 50°C, making them suitable for diverse conditions.

Dreamfly’s customers include Tata Advanced Systems, Larsen & Toubro, and drone tech firm General Aeronautics.

“The rise in electrification to combat the climate crisis and eliminating fossil fuels in industries such as transportation, agriculture among others is leading to unprecedented battery demand,” said Swapna Gupta, partner at Avaana Capital. “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.”