IISc & IIT-Bombay Alumuni Founded Graphene-based Non-Flammable Batteries Startup Raises $300K from Rebalance and CIIE.CO

Bengaluru-based Dreamfly Innovations, a graphene battery startup, has raised $300,000 in a funding round led by Rebalance Angel Community, with participation from IIM Ahmedabad’s CIIE.CO (Center for Innovation Incubation and Entrepreneurship), announced Rebalance, an angel investors community, in a blog post. 

The battery-tech startup intends to utilize this capital for product commercialization and expanding its team. The startup was also the part of Rebalance’s Accelerator Cohort 05.

Currently focussing Drone and Aviation sector, Dreamfly Innovations is India’s first high-performance, non-flammable, 10x durable graphene-based battery solutions company.

Founded in 2022 by Dr. Saurabh Markendeya and Kajal Shah, Dreamfly’s flagship product, the Graphene Battery, addresses the battery-related challenges encountered by drone companies, including the risk of battery fires.

Kajal Shah, an IIT Bombay alumnus, was an Aviation technologist at GE Aviation and R&D Manager at Tata Motors. While, Dr. Saurabh Markendeya, an IISc alumnus was Electric Vehicles & Battery Architecture Expert at Tata & L&T. The founders vision is to reshape the future of energy through Software-Defined Battery (SDB) technology.

Dreamfly’s flagship product, the Graphene Battery, is set to revolutionize the Drone and Aviation industry with its extended lifespan, rapid charging, and operational cost efficiency.

Launched in 2019, Rebalance invests upto $100K through Rebalance Angel Community which comprises of 45% women who invest with it. Rebalance invests in early-stage companies with diverse founders through Rebalance Accelerator Program & Rebalance Angel Community.


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