Recently, Chinese smart home-cleaning appliances maker Dreame completed a 3.6 billion yuan ($563 million) Series-C financing led by the Huaxing Growth Capital and CPE Yuanfeng. The financing round was also joined by Country Garden Venture Capital, Yunfeng Capital, Stoneylake Asset, Beijing Taikang Asset Management, Skywalker Capital, Harvest Capital Management and Fortune capital, while the previous shareholders of Xiaomi, Shunwei Capital and IDG Capital put in additional funds.
Yu Hao, the founder and CEO of Dreame, said that this round of financing will be used to increase its introduction of cutting-edge R&D talent and the construction of its technical teams. The aim is to encourage innovation and development within the company.
Dreame was founded in 2017. In the past four years, the company has been a global pioneer in core technologies such as high-speed motors and products called SLAM, or “simultaneous localization and mapping.” The company has nearly 1,800 members, among which the R&D staff accounts for more than 70%. The company’s annual R&D investment currently exceeds 12%.
Dreame has been actively exploring and strategically entering forward-looking fields such as bionic robots. In August, Xiaomi released the first generation of bionic quadruped robot CyberDog called “Iron Egg”. Dreame, as an ecological chain company, was responsible for the design and development of the robot dog in addition to the manufacturing of the whole machine in the project’s R&D.
In the third quarter of 2021, Dreame successively launched four important new products: the smart wireless vacuum cleaner H11 Max; an automatic dust collection and mopping robot vacuum cleaner L10 Plus; a sweep, wet and dry vacuum cleaner W10; and a new generation of flagship wireless vacuum cleaners, the V16. All of the products contribute to the acceleration in the field of smart cleaning.
By September 2021, the company has applied for 1,656 patents worldwide and obtained 726 authorized ones. At present, the sales of Dreame in overseas markets account for about 70% with its products covering more than 100 countries or regions.