Smart consumer technology startup Dreame raises $14.6m in Series B+ funding

Smart consumer technology startup Dreame raises $14.6m in Series B+ funding

Published: 07-09-2020 16:16:00 | By: Pie Kamau | hits: 932 | Tags:

Dreame Technology (Dreame), a smart consumer technology company specializing in cordless vacuum cleaners, robot vacuum cleaners and mops, announced it raised $14.6 million in its Series B+ funding led by IDG Capital with participation from Edge Ventures and Peak Valley Capital, return shareholders Xiaomi Corporation and Shunwei Capital. Yunmu Capital served as the exclusive financial advisor for this round of funding.

IDG Capital, noted that Dreame is an example of China's next-generation companies specializing in intelligent manufacturing, and is aligned with Dreame's long-term vision to make household appliances smart terminals and push the boundaries of smart home technology application.

Li Rui, Partner of Shunwei Capital, added that the recent Dreame products have showcased the technological strength of Chinese brands, and Shunwei's continued support in Dreame's series B+ funding is a recognition of the Dreame team and their products.

Dreame's key product portfolio includes two major categories of cleaning and personal care appliances, and the company now leads in areas of high-speed motor technology, aerodynamics, robot control and Visual Simultaneous Localization and Mapping (VSLAM). Dreame has enhanced robot vacuum cleaners' obstacle avoidance ability by combining Time-of-Flight (TOF) and VSLAM technologies.

Roc Woo, Co-Founder and General Manager of Marketing and Sales Center of Dreame said: ''Innovation is part of Dreame's DNA and we are committed to being innovative in all links of the brand-building process, from product and technology to design, marketing and management. We invest 12 percent of the annual sales revenue back into R&D and commit three times more into core technology development than our peers.''

To date, Dreame has published over 840 patent applications, including 270 invention patents. Dreame will launch its latest T20 handheld cordless vacuum cleaner in early November, highlighting 150AW ultra-strong suction power and a 99.97 percent filtration efficiency.