China-based smart consumer product manufacturer Dreame Technology has secured $536m in a series C round featuring electronics manufacturer Xiaomi and real estate developer Country Garden, DealStreetAsia reported yesterday, citing a company statement.
Huaxing Growth Capital and CPE co-led the round, which included Taikang Asset Management – on behalf of insurer Taikang – Yunfeng Capital, Stoneylake Asset Management, Skywalker Capital, Harvest Capital Management, Fortune Capital, Shunwei Capital and IDG Capital.
Country Garden invested through corporate venturing subsidiary Country Garden Venture Capital, and the round followed a $14.6m series B round in September 2020 led by IDG Capital that also featured Xiaomi, Edge Ventures, Shunwei Capital and Peak Valley Capital.
Founded in 2015, Dreame produces intelligent household appliances such as vacuum cleaners and connected mops. It will use the funding to grow its team and develop its technology.
Details of previous funding rounds could not be ascertained, but the company’s existing backers include internet group Kunlun, Houtian Capital and Lantern Capital, according to DealStreetAsia.
