(June 12): Dreame Technology, a Chinese maker of robotic vacuum cleaners and other smart home appliances, is considering a Hong Kong initial public offering (IPO) as soon as next year, people familiar with the matter said.
Dreame is working with advisers and could raise several hundred million dollars in a potential share sale, according to the people, who asked not to be identified discussing private information. Deliberations are ongoing and details such as the size and timing of an offering may change, they said.
A representative for Dreame didn’t respond to a request seeking comment.
Dreame had also been considering an IPO in the US, Bloomberg News reported in 2024.
Dreame raised 3.6 billion yuan in a Series C round in 2021 led by Huaxing Growth Capital and CPE Funds Management, with other investors including a unit of troubled developer Country Garden Holdings Co.
The company’s products include robot vacuums, lawn mowers and pool cleaners, as well as other appliances such as air purifiers and hair stylers. Founded in 2017, Dreame now has more than 4,000 stores, according to its website.
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