Dreame Technology's founder, Yu Hao, has publicly addressed false rumors circulating online regarding the company's early-stage financing. In a video posted on his personal social media account, Yu Hao provided a clear clarification.
He explicitly stated, "The first investment for Dreame, both personally and for the enterprise, came solely from Xiaomi Corp. and Shunwei Capital, amounting to 14 million yuan." Yu Hao strongly condemned online claims suggesting the company had secured tens of millions or even hundreds of millions in early funding from other sources, labelling them as completely fabricated and malicious rumors. He announced that accounts persistently spreading such misinformation would be blocked.
This 14 million yuan angel round investment took place in 2017. Beyond the capital injection, Xiaomi Corp. and Shunwei Capital also provided Dreame with its first crucial batch of orders, helping the company navigate its most challenging startup phase. Yu Hao has previously mentioned on multiple occasions that this investment was a vital starting point for Dreame's development.
In its early stages, Dreame heavily relied on the resource advantages of the Xiaomi Corp. ecosystem chain, primarily manufacturing products like vacuum cleaners and robotic vacuum cleaners for the brand. This partnership allowed Dreame to successfully accumulate core technology and establish an early market presence.
As Dreame's own capabilities grew, its collaboration model with Xiaomi Corp. evolved. In early 2024, the two companies formally signed a new strategic cooperation agreement, elevating their relationship from the initial "OEM model" to a comprehensive "joint development" model. This signifies that the former ecosystem chain "apprentice" has matured into a deep strategic partner, exploring the market alongside Xiaomi Corp..
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.