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Dreamfly Innovations raises Rs 3 Cr debt from SIDBI

EntrackrEntrackr · 2d ago
Dreamfly Innovations raises Rs 3 Cr debt from SIDBI
Medial

Bengaluru-based energy-tech startup Dreamfly Innovations has raised Rs 3 crore in non-dilutive venture debt from SIDBI. The proceeds will be used to support working capital and expand manufacturing capacity as the company scales operations. Backed by Avaana Capital, Dreamfly Innovations designs and manufactures advanced smart battery systems for drones, aviation, and aerospace applications. The firm focuses on lithium solid-state and graphene-based batteries, built to deliver higher energy density, improved safety, and better thermal performance. Its products use a proprietary thermal-case architecture and intelligent battery management systems (BMS) to ensure reliability in high-stress operating environments. Dreamfly follows a B2B manufacturing-led model, supplying customised battery packs and power solutions to OEMs and enterprise customers across unmanned aerial systems, defence-linked programs, and emerging aerospace use cases. The firm earns revenue through long-term supply contracts, co-development engagements, and repeat orders as customers scale deployments. As demand for high-performance energy storage grows across drones and advanced mobility, Dreamfly is positioning itself as a domestic supplier of mission-critical battery systems built for precision and safety.

Deeptech startup Meine Electric raises $750K in pre-seed round

EntrackrEntrackr · 13d ago
Deeptech startup Meine Electric raises $750K in pre-seed round
Medial

Meine Electric, a deeptech energy storage startup, has raised $750,000 (around Rs 6.7 crore) in a pre-seed funding round led by Antler, Rebalance and Venture Catalysts. The round also saw participation from gradCapital, AIC-AU Incubation Foundation, and a group of angel investors. The funding will be used to move the company from lab-scale prototypes to pilot-ready iron-air battery systems and to strengthen its research and engineering capabilities. Founded in 2023 by Priyansh Mohan and Stuti Kakkar, Meine Electric is building iron-air long-duration energy storage (LDES) systems, positioning itself as the first company in APAC and among the few globally working on this technology. The startup is focused on batteries designed for 16–24 hours of storage, aimed at supporting round-the-clock renewable energy usage. Iron-air batteries use abundant materials such as iron, air and water and operate through a reversible rusting process. Unlike lithium-ion batteries, which are typically viable for short-duration storage, iron-air systems are designed for daily cycling and long-duration use, making them suitable for solar-heavy grids. Meine Electric claims its technology is capable of operating at a lower cost of storage compared to existing battery solutions and is optimised for faster charge and discharge to match solar generation cycles. The firm operates from a 5,000 sq ft facility in Chennai, which is being set up for pilot production. It has secured four granted patents and seven international patent filings related to its technology. Going forward, Meine Electric plans to build grid-connected prototypes, followed by larger pilot deployments, with a target to launch containerised iron-air battery systems by 2027. The startup is also engaging with power producers and commercial and industrial customers for pilot projects.

Battery Smart raises $65 Mn in Series B round

EntrackrEntrackr · 1y ago
Battery Smart raises $65 Mn in Series B round
Medial

Battery tech startup Battery Smart has scooped up $65 million in Series B round led by LeapFrog Investments. The equity round also saw participation from new and existing investors, including MUFG Bank, Panasonic, Ecosystem Integrity Fund, Blume Ventures and British International Investment (BII). While Battery Smart did not disclose its current valuation, it was valued at around $340 million during the first tranche of Series B worth $45 million. This was a significant surge in valuation from the $210 million in the pre-Series B round in November last year. The startup will use the capital to scale its battery-swapping network across the country and drive more electric mobility adoption, Battery Smart said in a press release. Battery Smart provides advanced lithium-ion batteries for electric two and three-wheelers which can be swapped in quick time at any of its swapping stations. Its battery-as-a-service (BaaS) solution helps customers to save high upfront costs. Currently, it claims to have 1,000 battery-swapping stations across 30 cities, completing over 35 million swaps with over 45,000 active customers. The firm has a presence in Haryana, NCR, Karnataka, Rajasthan, Telangana, Uttar Pradesh, and Maharashtra. Recently, Battery Smart tied up with quick commerce platform Zepto to deploy 1,000 electric vehicles in the next financial year of FY25. The partnership will allow Zepto’s EV delivery partners to use Battery Smart’s battery-swapping network. As per startup data intelligence platform TheKredible, Battery Smart saw a seven-fold jump in its revenue to Rs 55.8 crore from Rs 7.95 crore in FY22. Meanwhile, its losses also surged 4.9X to Rs 64.51 crore from Rs 13.08 crore. As per the latest data, Tiger Global controls 23% stake in Battery Smart followed by co-founders Pulkit Khurana and Siddharth Sikka with 14.28% stake each. Blume Venture holds more than 12% stake in the company. Check TheKredible for more details.

EMO Energy raises $6.2 Mn in Series A round

EntrackrEntrackr · 1y ago
EMO Energy raises $6.2 Mn in Series A round
Medial

Snippets EMO Energy raises $6.2 Mn in Series A round Energy-tech startup EMO Energy has raised $6.2 million in its Series A funding round, led by Subhkam Ventures along with participation from the existing investor, Transition VC. The Bengaluru-based company had previously raised $1.43 million from Sat Industries and others. The proceeds will be utilized to scale its 2 and 3 wheeler energy solution to over 1 lakh vehicles over the next two years, strengthen its R&D capabilities, and expand the team to meet growing operational demands, EMO Energy said in a press release. Co-founded in 2022 by Sheetanshu Tyagi and Rahul Patel, EMO Energy is a deep energy-tech startup focused on enabling mass EV adoption and decarbonizing urban energy. Its proprietary technology stack, ZEN, provides ultra-fast 20-minute charging, fireproof designs, and over 3000 charging cycles, making it a benchmark in safety, efficiency, and performance. The company’s battery systems are designed for electric two- and three-wheelers, commercial vehicles, and large-scale energy storage, with applications across multiple industries. According to EMO Energy, it aims to empower the urban energy landscape through its advanced battery software and hardware. Its patented technology, ZEN, comprises an AI battery management system, active thermal management, and machine learning battery life extension algorithms, which can cater to mobility and energy storage, unlocking a multi-billion-dollar addressable market across electric two-wheelers, light commercial vehicles, and industrial green energy storage systems. Over the last 12 months, EMO states that it has forged critical high-volume partnerships across major OEMs and is now well-equipped to scale from 2 to 2000 kWh. It is creating an ecosystem where dark stores and commercial establishments will have EMO-enabled delivery vehicles powered by its fast chargers and energy storage systems, all managed by an integrated energy management software. EMO Energy claims that it has already deployed over 2,000 battery packs in the mobility segment and is executing production-ready pilots for ESS aimed at providing peak shaving/backup and replacing diesel generators in industrial and commercial settings. Some of the startup’s clients include Kinetic Green, BigBasket, Domino’s, and Blinkit.

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