Former Dreame China Executive President Guo Renjie starts a business, and "Leshare Technology" announces the completion of nearly 200 million yuan in angel round financing | 36Kr exclusive.

36Kr has learned that "JoyTech" has recently completed its Angel Round of financing. This round of financing is led by IDG Capital, with Monolith, Matrix Partners, ZhenFund, Sequoia Capital China Seed Fund, and Oasis Capital as co-investors. The total financing amount is close to 200 million yuan, and the post-investment valuation is approximately 600 million yuan.

"JoyTech" was founded by Guo Renjie, the former Executive President of Dreame China. It was established in December 2024. Guo Renjie was born in 1997. He was admitted to the Juvenile Class of Xi'an Jiaotong University (Energy and Power Engineering direction) and the Jinhe Economic Research Center at the age of 15. He graduated with a master's degree in Financial Economics from the London School of Economics and Political Science and joined Dreame in early 2021.

In the past three years, Guo Renjie led the Dreame China region to achieve a breakthrough from an annual scale of 0 to 6 billion yuan, with continuous high-speed growth for three consecutive years, and successfully completed the high-end transformation of the brand. In November 2023, Dreame became the brand with the highest market share in China's cleaning appliance industry.

The wave of large-scale models has been developing for nearly two years. Since 2024, the AI hardware boom based on large-scale models has begun - including sub-categories such as AI glasses, AI toys, AI headphones, etc., and the first batch of brands have emerged. Both large companies and startups are actively entering the game.

In terms of market selection, JoyTech has positioned itself as a global technology company since its establishment on the first day, hoping to create the next generation of globally leading products and brands.

"The products that everyone will be using 30 years later may not have appeared yet today." Guo Renjie believes that we are currently in the wave of new technological changes, and many products that may change the world are in the embryonic stage. This is also the reason why he decided to start a business at this time.

"JoyTech" is positioned in the AI + consumer hardware market. The current first product is under development and is expected to be targeted at the home scene. "AI and robot technology are advancing rapidly. I hope to be able to find the space for productization of technology from a different perspective based on my accumulated experience in the consumer goods field," Guo Renjie said. Nowadays, technological advancements represented by robots and AI will give birth to a batch of new products based on interaction and will quickly enter everyone's life.

As of January 2025, the "JoyTech" team consists of 9 members, including the CTO of a company with a market value of 100 billion yuan, a 20-year veteran in the consumer electronics industry, and creative post-00s.

"We need to balance the innovation from young people and the implementation of experience. We should not only allow young people to come here to change the world but also strictly require ourselves with the highest global product standards from the first day," said Guo Renjie, the founder and CEO of JoyTech.

The current round of financing for JoyTech will be mainly used for product research and development and team building. Currently, JoyTech is registered in Suzhou. Guo Renjie said that Suzhou has a complete manufacturing industry chain, which also provides sufficient space for the subsequent construction of JoyTech's supply chain system.

"In the first stage, our focus will be on technology research and development and consumer insight, striving to create more competitive products; subsequently, we will gradually build competitive barriers, including independent research and production of core components, as well as the moat of channels. At the same time, we will continuously embrace the best technologies and the best partners, hoping to continuously create a 1 + 1 > 2 synergy," Guo Renjie said.