Funding round
Dreame Norway Series B
Dreame Norway, which works in smart home appliance manufacturing in Stockholm, raised $15M in a Series B round announced on 1 Sep 2020, led by IDG Capital. 5 firms took part. It is Dreame Norway's first venture round on record.
$15M
Amount raised
Not disclosed
Post-money valuation
5
Investors
1 lead
Valuation
What this round says about the price
Dreame Norway did not disclose a valuation in this round. It is Dreame Norway's first venture round on record, 5 years after it was founded in 2015. It is 2.5% of the $578M Dreame Norway has raised in the venture rounds on record. Dreame Norway raised again 13 months later: a Series C round of $563M in Oct 2021.
Dreame Norway's funding rounds
Dreame Norway has 2 venture rounds on record. This one is highlighted.
- Series B this round 1 Sep 2020, led by IDG Capital $15M
- Series C 1 Oct 2021, led by Huaxing Growth Capital and CPE $563M
Investors
Who put money in
IDG Capital led the round with 4 other firms.
Lead investor
- IDG Capital new investor
Also in the round
- backs 50 venture-backed companies new investor
- Peak Valley Capital new investor
- Xiaomi Corporation new investor
- backs 36 venture-backed companies new investor
Use of proceeds
What the money is for
According to the announcement, the money goes to product development.
- Product development
Comparable rounds
How it compares
The closest in time: 2 in Appliance Stores, then Series B rounds in any sector within 6 months:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Appliance Stores | 8 Dec 2020 | $9.5M | not disclosed | A91 Partners |
| Appliance Stores | 2 Apr 2020 | $14M | not disclosed | ByteDance and Source Code Capital |
| Tech Companies | 30 Sep 2020 | $160M | not disclosed | Bridgepoint |
| Mollie Payment Processing & Point of Sale | 8 Sep 2020 | $100M | not disclosed | Technology Crossover Ventures |
| Biotechnology | 17 Sep 2020 | $100M | not disclosed | Matrix Capital Management |
| Trucking and Logistics | 10 Sep 2020 | $100M | not disclosed | SoftBank Ventures Asia |
| Pharmaceutical Products | 14 Sep 2020 | $78M | not disclosed | Sanofi Ventures and Cowen Healthcare Investments |
| Biotechnology | 29 Sep 2020 | $77M | not disclosed | ARCH Venture Partners |
Sources
Where this comes from
Reported by 5 sources.
Questions
Frequently asked
How much did Dreame Norway raise in its Series B round?
Dreame Norway raised $15M in its Series B round, announced in Sep 2020.
Who led Dreame Norway's Series B round?
IDG Capital led it, with InfoEdge Ventures, Peak Valley Capital, Xiaomi Corporation and Shunwei Capital.
What was Dreame Norway's valuation at the Series B round?
It was not disclosed.
Did Dreame Norway raise again after this round?
Yes: a Series C round in Oct 2021 of $563M.