China's Dreame sets up CVC arm, targets $1.54b for debut funds

China's Dreame sets up CVC arm, targets $1.54b for debut funds

Yu Gao, founder and CEO of Dreame Technology. Photo from Dreame Technology

Dreame Technology, a Chinese maker of smart cleaning appliances, has set up its corporate venture capital (CVC) arm, starting with two venture funds to invest up to 11 billion yuan ($1.54 billion) in the artificial intelligence (AI) and robotics space.

Edited by: Pramod Mathew