Suzhou-based Dreame Technology is exploring an initial public offering in Hong Kong as soon as 2027, Bloomberg reported on June 12, joining a fast-growing list of Chinese robotics champions racing to list on the city's exchange. The robot vacuum specialist could raise several hundred million dollars in the share sale after a recent pre-IPO funding round priced the company at roughly 70 billion yuan, or about $9.6 billion.
The Numbers
Dreame reportedly posted more than 40 billion yuan (about $5.5 billion) in revenue in 2025, keeping a compound annual growth rate north of 100% for eight consecutive years. Overseas markets now account for nearly 80% of total sales. IDC ranked the brand the number one robot vacuum maker globally by sales and revenue in Q1 2026, with leading market share in 30 countries, including more than 50% in Belgium, Germany and Austria.
From Xiaomi Supplier To Multi-Category Hardware Player
Dreame was founded in 2017 by Yu Hao with 14 million yuan of angel funding from Xiaomi and Shunwei Capital, originally manufacturing Xiaomi-branded vacuums inside the smartphone giant's ecosystem of investee companies. The company has since outgrown that relationship, expanding into cordless vacuums, robotic lawn mowers, pool cleaners and hair care. In 2025 and 2026 it launched two ambitious adjacencies: Dreame Cars, whose Nebula 1 four-motor electric sports car was unveiled at CES 2026 with claimed peak output of 1,399 kilowatts, and DreameSpace, its first smartphone, which the company says has secured more than 100 million yuan in overseas pre-sale orders.
A Crowded Hong Kong Pipeline
The potential Dreame deal joins a flood of Chinese robotics filings now lined up for Hong Kong. Humanoid maker EngineAI filed confidentially the same day, BYD-backed hand specialist PaXini is also weighing a Hong Kong listing, and humanoid unicorns Unitree and Agibot are working on multi-billion dollar offerings on STAR and HKEX respectively. Hong Kong's IPO market raised HK$109.9 billion in the first quarter of 2026, up 489% year over year.
For Dreame, the IPO would help fund its move beyond robot vacuums into capital-intensive categories, and would give global investors their first liquid bet on China's dominant consumer robotics platform. The size, timing and venue of any offering could still change.
Reporting based on coverage from Bloomberg, The Next Web and The Standard.