Dreame Technology bags $563 million in Series C round

Oct 21, 2021 Finance

 

Dreame, an innovative consumer product firm that produces premium hairdryers and vacuums, has completed its Series C round of fundraising with an amount of 3.6 billion yuan ($563 million).

This deal was co-led by Huaxing Growth Capital and CPE. Other investors include Country Garden Venture Capital, Yunfeng Capital, Stoneylake Asset, Taikang Asset Management, Skywalker Capital, Hanvest Capital Management and Fortune Capital.

Besides, the returning investors like Xiaomi Corporation, Shunwei Capital and IDG Capital also made follow-on investments.

The funds will be used to increase its introduction of cutting-edge R&D talent and the construction of its technical teams. After this round of financing, the firm will continue to invest in high-speed digital motors and AI algorithms.

Nowadays, Dreame has developed its presence in the international market, which has launched its operation online through Amazon stores in the US, Germany, Italy, and Spain.