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Battery Tech Startup Dreamfly Innovations Gets Rs 12 Cr Led By Avaana Capital

Dreamfly Innovations, a battery technology startup, has raised $1.4 Mn (around INR 12 Cr) as a part of its seed funding round led by Avaana Capital.

By Jitendra Das
New Update
Battery Tech Startup Dreamfly Innovations Gets Rs 12 Cr Led By Avaana Capital

Dreamfly Innovations, a battery technology startup has rasied $1.4 Mn (around INR 12 Cr) as a part of its seed funding round led by Avaana Capital.

The round also saw participation from Sunicon Ventures. among other existing backers.

The startup plans to use the funds to build a manufacturing unit, grow its team and speed up research and development of its battery solutions.

Read also- Vegan Wellness Brand Raises $1 Mn In Pre-Series A Round

Kajal Shah co-founder and CEO of Dreamfly Innovations, said, "The entire world is moving toward electrification, and at the heart of this, batteries remain a pain point even today… 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."

“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,” she added.

In 2023, Dreamfly Innovations raised Rs 4.9 crore in an angel funding round from Rebalance Angel Community, with participation from IIM Ahmedabad’s Centre for Innovation Incubation and Entrepreneurship (CIIE).

About Dreamfly Innovations 

Founded in 2022 by Kajal Shah and Saurabh Markandeya, Dreamfly Innovations, based in Bengaluru, focuses on creating battery solutions for drones, aviation and aerospace, especially in areas like agriculture, terrain mapping, surveillance and logistics. 

Its batteries have a thermal case design that lowers operating temperatures and reduces fire risks. They are also lightweight, improving efficiency.

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