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					</table><p>Bengaluru-based battery technology startup <a href="https://www.dfi-india.com/" target="_blank" rel="noopener">Dreamfly Innovations</a> has secured $300,000 in funding through a round led by <a href="https://therebalance.com/rebalance-angel-community/" target="_blank" rel="noopener">Rebalance Angel Community</a>, with participation from IIM Ahmedabad’s Center for Innovation Incubation and Entrepreneurship (<a href="https://ciie.co/" target="_blank" rel="noopener">CIIE.CO</a>).</p>
<p>The startup plans to utilize the funds for product commercialization and expanding its team.</p>
<p>Dreamfly aims to revolutionize the future of energy by leveraging software-defined battery (SDB) technology which employs software algorithms to optimize battery performance, efficiency, and safety.</p>
<p>Established in 2022, Dreamfly’s flagship product, the Graphene Battery, aims to tackle battery-related challenges faced by drone companies, including the risk of battery fires. The company claims to have reported successful pilot implementations of its technology with drone-as-a-service firms operating in agriculture, geospatial mapping, and space tech sectors.</p>
<p>Co-founders of Dreamfly Innovations, Saurabh Markendeya and Kajal Shah, remarked, “With two decades of experience working on SMART Batteries and various cell chemistries, we recognized a significant market opportunity. These SMART batteries with Graphene Cell Chemistry offer safety, fire resistance, and precise flight predictability, ensuring smooth flying and precision landing.”</p>
<p>The company said the drone, aviation, and electric vehicle battery market was dominated by Li-Ion and Li-Po technology. However, the growth of this soon-to-be $1.5 trillion industry is crippled due to performance, safety, and durability concerns.</p>
<p>After a series of fires in electric vehicles last year, Minister of Road Transport and Highways of India Nitin Gadkari <a href="https://www.mercomindia.com/government-warns-of-heavy-penalties-and-mass-recall-of-ev-following-battery-fires" target="_blank" rel="noopener">warned</a> that any EV company found to be negligent in its manufacturing process will face heavy penalties.</p>
<p>Dreamfly also stated it is developing India&#8217;s first gallium nitride-based semiconductor chip dedicated to battery controller systems, enhancing the efficiency and durability of battery systems.</p>
<p>Highlighting India’s transition toward an electron economy and emphasizing the government’s ambitious target of 30% electrification by 2030, Chintan Antani, VP of Seed Investments at CIIE.CO, said  battery systems are one of the most important power storage and generation pillars.</p>
<p>In the first half (1H) of 2023, corporate funding for energy storage companies reached $7.1 billion across 59 deals, according to Mercom Capital Group’s <a href="https://mercomcapital.com/product/1h-q2-2023-funding-ma-report-storage-grid/" target="_blank" rel="noopener">1H and Q2 2023 Funding and M&amp;A Report Storage and Grid Report</a>.</p>


Dreamfly Innovations Raises $300,000 for Graphene Battery Development

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