Cross-border sales: 8 billion yuan in sales a year! Topped the Amazon Best Seller list many times

With the improvement of people's requirements for quality of life and the advancement of technology, smart cleaning appliances have become more and more popular and have become the new favorite of consumers today.

Many companies in the smart cleaning sector have also experienced rapid development and taken advantage of the opportunity to expand overseas.

However, in the past two years, affected by the international situation, overseas consumption capacity has declined, and the revenue of many leading companies in the smart cleaning industry has declined to varying degrees.

However, a cross-border enterprise has experienced counter-cyclical growth, with its revenue expected to reach 8 billion yuan in 2023!

"Dreimi Technology" raised 3.6 billion in its C round, with performance growing rapidly!

Dreame Technology was founded in 2017 and is headquartered in Suzhou . The company mainly deals in various intelligent service robots and cleaning appliances . At present, Dreame Technology's main products include sweeping robots, cordless vacuum cleaners, floor scrubbers, and high-speed hair dryers .

Dreame Technology targets the global market, and its products are sold in more than 120 countries and regions including the United States, Germany, France, and South Korea .

As Dreame Technology has been making great strides, it has also gained the favor of the capital market .

At present , Dreame Technology has completed multiple rounds of financing.

From April 11, 2018 to June 1, 2023, Dreame Technology completed 7 rounds of strategic investment, 1 angel round and 1 A round of financing, and the amount was not disclosed to the public.

In August 2020, Dreame Technology completed a B+ round of financing of nearly 100 million yuan, led by IDG Capital, followed by Xiaomi, Shunwei Capital, Peak Valley Capital, and Qingrui Ventures.

In October 2021, Dreame Technology announced the completion of a RMB 3.6 billion Series C financing. This round of investment was led by Huaxing New Economy Fund and CPE Yuanfeng, with strategic investment from Country Garden Venture Capital, Yunfeng Fund, Xinze Asset, Beijing Taikang Investment, Skywalker Capital, Harvest Investment, and Dachen Capital, and additional investment from old shareholders Xiaomi Group, Shunwei Capital, and IDG Capital.

With the support of capital, Dreame Technology 's performance has also ushered in rapid growth.

In 2019, Dreame Technology 's revenue exceeded 500 million yuan. In 2020, this figure saw rapid growth, exceeding 2 billion yuan.

In 2021, Dreame Technology's revenue doubled to approximately 4 billion yuan .

By 2022, under the influence of the international environment, the demand for products in the smart cleaning industry has decreased significantly. According to data from the General Administration of Customs, from January to November 2022, China's vacuum cleaner exports fell by 20% year-on-year. The growth rate of many leading brands in the industry has slowed down significantly.

However, in 2022 , Dreame Technology's GMV (gross merchandise volume) increased by 1659% year-on-year, its revenue increased by about 60% year-on-year , and its overseas business also increased by 60%.

It is worth mentioning that in this year, Dreame Technology's business in many countries and regions has achieved rapid growth. Among them, the Southwest Europe region grew by 150%, the Russian-speaking region grew by 350%, the Southeast Asia region grew by 450%, and the Northern Europe region grew by as much as 700% .

During the "618" e-commerce sales peak season in 2023, Dreame Technology's omni-channel sales exceeded 900 million yuan, an increase of 100% compared to the same period in 2022.

On Double 11 in 2023 , Dreame Technology's total sales in the Southeast Asian market exceeded 100 million yuan, an increase of nearly 10 times year-on-year.

The final achievement of Dreame Technology on Double 11 was to win the TOP 1 in the home cleaning brand sales list on the Tmall platform and to top the list in multiple categories. Dreame Technology ended the shopping festival with a total omni-channel sales exceeding 2.1 billion .

As for the outstanding performance of Double 11, Dreame Technology believes that this is mainly related to four factors :

First, consumers ’ demand for smart cleaning products is increasing, and their recognition of Dreame’s technology and product strength is also increasing;

Second , the company has increased its investment in research and development over the years , actively developed new products, and improved the market competitiveness of its products ;

Third, Dreame Technology pays attention to consumer needs and uses technology to develop products at multiple price points ;

Fourth, the company has made efforts in both online and offline channels to create a good brand image.

Dreame Technology said, " It is expected that the company's revenue will reach 8 billion yuan in 2023. "

While the company's performance is growing rapidly, Dreame Technology is also accelerating its international expansion and plans to enter the Middle East, Africa, India and South American markets.

Dreame Technology takes a leading position in the industry with its technological advantages

Dreame Technology has rushed to the forefront of the industry within just a few years of its establishment , which is inseparable from its strong product strength and technological investment.

Dreame Technology currently has a total of more than 2,000 employees, of which more than 70% are R&D personnel, and annual R&D investment accounts for more than 10%.

Dreame Technology has a series of authorized patents in high-speed digital motors, robot control, etc. As of November 2023, Dreame Technology has applied for 4,241 patents, including 1,457 invention patents and 2,179 authorized patents , far ahead of its peers.

"Digital motor" technology is an important core technology in the smart cleaning appliance industry . Core technology is very important if you want to take the lead in the industry .

In 2017, Dreame Technology successfully developed the first high-speed digital motor with a speed of 100,000 rpm.

Subsequently, Dreame Technology upgraded its digital motor from 100,000 rpm to 160,000 rpm, and then to 180,000 rpm for the first time, gradually accumulating 200,000 rpm technology and gaining a leading advantage in the industry.

(Picture source: Dreame Technology official website)

It is important to note that the key product competitiveness of smart cleaning appliances is "algorithms" . Dreame continues to invest in algorithm research and development, combining AI technology with core technologies such as Slam, ToF solid-state radar, and structured light to enable products to adapt to different home environments and become smarter.

In December 2018, Dreame's first product, the V9 cordless vacuum cleaner, was launched through crowdfunding and sold out in just 6 days , with 18,888 units sold and sales exceeding 15 million yuan.

Subsequently, Dreame expanded its product categories to include high-speed hair dryers , sweeping robots, and smart floor scrubbers .

In 2019, Dreame launched its first Dreame Classic 1.0 high-speed hair dryer .

In February 2021, Dreame launched its latest dual-line laser radar sweeper L10 Pro .

In July 2021, Dreame once again launched its new product - Dreame cordless floor scrubber H11 Max.

Dreame Technology's products are very popular in overseas markets .

In June 2021, Dreame vacuum cleaners became the best-selling vacuum cleaners above 300 euros on AliExpress Europe . At the same time, the Dreame robot vacuum cleaner D9 topped the list of vacuum cleaners in the 200-300 euro price range on Amazon France, Italy , and Spain .

On Amazon Prime Day 2023, Dreame Technology occupied the top position in multiple categories in overseas markets. Dreame Technology's omni-channel GMV in Europe reached 12.5 million euros (about 100 million yuan in total), and both sweepers and floor scrubbers ranked first, an increase of 1045% over the same period last year .

In a market environment where consumer demand for smart cleaning appliances is slowing and brand competition is fierce, Dreame Technology has been making great strides and maintaining rapid growth in performance.

However, it should be noted that Dreame Technology is currently facing the risk of declining reputation.

There are many complaints about Dreame on the Black Cat complaint platform . The common problems reported by these consumers are the poor quality of Dreame's products, poor after-sales service, false advertising, non-delivery and non-refund.

In addition, Dreame has also been involved in a litigation dispute , being sued by its peers for patent infringement and unfair competition, with the amount of compensation reaching tens of millions of yuan.

In addition, the smart cleaning market is highly competitive and has very high technical requirements. In order to maintain its leading position in the market, Dreame Technology still needs to continue to innovate in technology to adapt to market demand .

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