https://techcrunch.com/2020/09/03/dyson-challenger-dreame-raises-15-million/

Once known for its affordable smartphones, Xiaomi has in recent years been transforming itself into an online mall for consumer electronics by making deals and building relationships with hundreds of hardware and lifestyle startups. And some of its allies are now going after the Western market with their high-end, China-made products.

Beijing-based Dreame, which produces premium hairdryers and vacuums in the style of Dyson but at lower prices, is one of Xiaomi’s latest bets. The startup announced this week the completion of a Series B+ round led by IDG Capital. The financing of nearly 100 million yuan ($14.6 million) also saw the participation of existing investors Xiaomi and Xiaomi founder Lei Jun’s Shunwei Capital, as well as Peak Valley Capital and Edge Ventures.