Funding round
Dreame Norway Series C
Dreame Norway, which works in smart home appliance manufacturing in Stockholm, raised $563M in a Series C round announced on 1 Oct 2021, led by Huaxing Growth Capital and CPE. 16 firms took part, 7 of them already investors. It is Dreame Norway's second venture round on record; the one before was a Series B in Sep 2020.
$563M
Amount raised
Not disclosed
Post-money valuation
16
Investors
2 leads
Valuation
What this round says about the price
Dreame Norway did not disclose a valuation in this round. It came 13 months after Dreame Norway's Series B. It is 97% of the $578M Dreame Norway has raised in the venture rounds on record. No later venture round is on record for Dreame Norway.
Dreame Norway's funding rounds
Dreame Norway has 2 venture rounds on record. This one is highlighted.
- Series B 1 Sep 2020, led by IDG Capital $15M
- Series C this round 1 Oct 2021, led by Huaxing Growth Capital and CPE $563M
Investors
Who put money in
Huaxing Growth Capital and CPE led the round with 14 other firms. Shunwei Capital, IDG Capital, Xiaomi Corporation and HouTian Capital and 3 more had backed Dreame Norway before.
Lead investors
- Huaxing Growth Capital new investor
- CPE new investor
Also in the round
- Country Garden Venture Capital new investor
- backs 14 venture-backed companies new investor
- Stoneylake Asset new investor
- Taikang Asset Management new investor
- Skywalker Capital new investor
- Harvest Capital Management new investor
- backs 14 venture-backed companies new investor
- backs 36 venture-backed companies existing investor
- IDG Capital backs 49 venture-backed companies existing investor
- Xiaomi Corporation existing investor
- HouTian Capital existing investor
- Peak Valley Capital existing investor
- Lantern Capital existing investor
- backs 50 venture-backed companies existing investor
Use of proceeds
What the money is for
According to the announcement, the money goes to hiring, product development, geographic expansion, sales and marketing, scaling operations and working capital.
- Hiring
- Product development
- Geographic expansion
- Sales and marketing
- Scaling operations
- Working capital
Comparable rounds
How it compares
The closest in time: Series C rounds in any sector within 6 months:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Orca Security Tech Companies | 5 Oct 2021 | $550M | $1.80B | Temasek |
| ClickUp Tech Companies | 27 Oct 2021 | $400M | $4.00B | Andreessen Horowitz and Tiger Global |
| Vuori Clothing Manufacturers | 13 Oct 2021 | $400M | $4.00B | SoftBank Vision Fund |
| Rippling Tech Companies | 21 Oct 2021 | $279M | $6.52B | Sequoia Capital |
| Tech Companies | 8 Oct 2021 | $275M | $10.00B | Sequoia Capital and Coatue |
| Cryptocurrency | 6 Oct 2021 | $260M | $1.90B | Andreessen Horowitz and Coinbase Ventures |
| Tech Companies | 11 Oct 2021 | $250M | $6.00B | Greenoaks and Insight Partners |
| Industrial Machinery & Supplies | 26 Oct 2021 | $200M | $1.00B | Temasek |
Sources
Where this comes from
Reported by 6 sources.
Questions
Frequently asked
How much did Dreame Norway raise in its Series C round?
Dreame Norway raised $563M in its Series C round, announced in Oct 2021.
Who led Dreame Norway's Series C round?
Huaxing Growth Capital and CPE led it, with Country Garden Venture Capital, Yunfeng Capital, Stoneylake Asset, Taikang Asset Management and Skywalker Capital and 9 more.
What was Dreame Norway's valuation at the Series C round?
It was not disclosed.