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Dr. Saurabh Markandeya and Kajal Shah
Drone battery technology startup Dreamfly Innovations has raised $1.4 million (Rs 12 crore) in a seed funding round led by Avaana Capital, with participation from Sunicon Ventures among other existing investors.
The startup plans to use the raised capital to scale production capabilities, team expansion and accelerate research and development of its cutting-edge, sustainable, and fire-resistant battery solutions.\
What does Dreamfly Innovations do?
Founded in 2022 by Kajal Shah and Dr. 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, the startup delivers energy solutions that are reliable, safe, and sustainable.
Leadership comments
“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 of 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,” Shah added.
Serving notable clients
The Bengaluru-based startup claims to have a notable client base which includes Tata Advanced Systems Ltd. (TASL), Larsen & Toubro Limited (L&T), General Aeronautics, and Neosky India Ltd.
"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," said Swapna Gupta, Partner at Avaana Capital.