Comprehensive inventory: An article to understand which companies the funds established by Dreame have invested in

Sky Factory Venture Capital is an institution established by Dreame Technology in 2023. Originally named Dream Creation Venture Capital, after its brand upgrade at the end of 2025, it now emphasizes its independence, including independent fundraising and decision - making mechanisms.

IT Juzi shows that as of April 2026, this institution associated with Dreame's CVC has invested in 57 enterprises.

A notable signal is that in 2025, its investment pace remained at 0 - 2 enterprises per month. However, after entering 2026, it suddenly accelerated - 10 investments in February, 15 in March, and 14 in April. In just three months, it completed over 60% of the total investment volume of last year.

Sky Factory has become one of the top 5 most active investors in China.

From high - speed motors to intelligent algorithms, from hardware engineering to ecological synergy, nearly 60 enterprises outline a clear industrial extension map: it is not a wide - spread financial investment but a systematic layout around Dreame's core capabilities.

I. Robot Main Line: From Floor - cleaning Robots to the Entire Industry Chain

Robots are the most natural direction for Dreame's ability spill - over. From humanoid robots to industrial robots, from core components to software systems, Sky Factory has invested in 11 enterprises on this main line, covering almost the entire industry chain.

Magic Atom (Wuxi, established in December 2023) - A company focusing on general humanoid robots and bionic quadruped robots. Its valuation in Series A is 3 billion yuan. It covers multiple scenarios in industry, commerce, and households and has the ability to independently develop complete machines.

Pro Universe (Suzhou, established in January 2025) - An embodied intelligent industrial robot enterprise that pioneered the SDPAA architecture. Its first industrial - grade general embodied robot, "Pro Universe Big White", has been delivered in batches and has been implemented in the 3C electronics and automotive fields first.

Deep Pulse Mining (Shanghai, established in November 2025) - A company integrating mining robots and the intelligent exploration platform "Deep Pupil Exploration". It raised 30 million yuan in Series A. It introduces robot technology into special mining scenarios.

Star Workers Gather (Suzhou, established in June 2025) - A supplier of precision transmission core components and robots, serving the automotive, semiconductor, medical, and aerospace industries. It raised 30 million yuan in the angel round. It extends to upstream core components.

Extend Robotics (UK, established in January 2025) - The only overseas investment of Sky Factory. It features 3D remote transmission and VR remote - operation systems, embedding Chinese hardware into European industrial scenarios. It raised 30 million yuan in the Pre - A round.

Other Layouts: Core Kitchen Era (intelligent robots, industrial equipment, and AI hardware), Top - notch Robots (AI screw - tightening robots, already introduced to BYD and Ecovacs), Window Cleanliness (household cleaning robots), Lawnix (high - end intelligent garden and power tools), Star Pulse Century (mine robots and intelligent prospecting).

II. Smart Home Main Line: From Cleaning Appliances to Whole - house Intelligence

Dreame entered the household scenario through floor - cleaning robots and floor scrubbers. Smart home is the most direct extension of its capabilities. There are a total of 10 enterprises on this main line, with many clustered in Suzhou, showing obvious ecological agglomeration characteristics.

Shiree Smart Bed (Shenzhen, established in February 2025) - A high - end intelligent sleep brand in the Dreame ecosystem. Its valuation in Series A is 1 billion yuan. It integrates smart beds, sleep monitoring, and environmental adjustment, showing typical internal incubation characteristics.

Huaxing Home/NEXTROOM (Suzhou, established in August 2025) - A MOVA ecological smart home brand with AI algorithms for active adaptation. It raised 10 million yuan in the angel round. It builds a whole - house smart experience based on Dreame's intelligent algorithms, showing internal incubation characteristics.

Jingxi Zhiyu (Suzhou, established in July 2025) - A smart environmental appliance company. It received a strategic investment of 100 million yuan. It integrates air purification, fresh air, and intelligent temperature control, with a relatively large single - investment amount.

Sleep Force Matrix (Zhuhai, established in July 2025) - A smart sleep furniture company. It raised 20 million yuan in the Pre - A round. It integrates smart mattresses, sleep monitoring, and health management, forming a dual - layout in the sleep scenario with Shiree Smart Bed.

Comfort Special (Hangzhou, established in September 2025) - An AI - enabled smart sofa with an adaptive comfort system trained based on human body data.

Other Layouts: Jingjie Cruise (household tools/robots), Zhichuang Qichen (household appliance R & D), Air Leap (household appliance R & D), Sanguang Zhiyuan (household appliance R & D), Aichu Smart (kitchen appliance R & D).

III. New Energy Main Line: From Battery Management to Nuclear Fusion

Starting from Dreame's motor and battery management capabilities, Sky Factory extends to the new energy field, covering cutting - edge directions such as nuclear fusion, solid - state batteries, and energy storage. It has invested in 5 enterprises in total.

Zero Point Energy (Beijing, established in September 2024) - A company focusing on nuclear fusion energy technology, following the magnetic zero - point confinement configuration fusion route. It raised 50 million yuan in the angel round. This is one of the most cutting - edge projects of Sky Factory in terms of technology route.

Crystal Core Energy (Jiaxing, established in December 2025) - A company providing all - solid - state battery cells and system solutions, with self - developed positive and negative electrode coating technology. It raised 30 million yuan in the angel round.

Linge Energy (Suzhou, established in December 2025) - A company focusing on household balcony energy storage, integrating lithium iron phosphate, intelligent inverters, and AI energy algorithms. It raised 30 million yuan in the angel round, targeting small - scale energy storage scenarios for the C - end market.

Star Sky Energy Storage (Xiamen, established in July 2024) - A whole - house smart home energy ecosystem driven by AI, robots, and digital energy. It raised 20 million yuan in Series A. It integrates photovoltaic power generation, energy storage, and intelligent scheduling.

Yanhe Technology (Changde) - A company focusing on perovskite solar cells, with a team from Peking University and Columbia University. It raised nearly 100 million yuan in Series A + (Sky Factory did not participate in this round).

IV. Automotive and Transportation Main Line: From Core Components to Vehicle Manufacturing

Extending from Dreame's motor and motor control capabilities to the travel field, Sky Factory covers vehicle manufacturing, core components, autonomous driving, and short - distance travel. It has invested in 8 enterprises in total.

Light Shuttle Future/Bulletrux (Suzhou, established in February 2025) - A new - energy autonomous commercial vehicle company integrating R & D, production, and operation. It raised 20 million yuan in the Pre - A round.

Star Sky Project (Shanghai, established in November 2024) - A high - end new - energy SUV project with its headquarters in Lingang. Targeting the high - end passenger vehicle market, it is a key layout of Sky Factory in the passenger vehicle field.

Star Path Thousand Leaps (Shanghai, established in December 2025) - A company providing range - extender power solutions. Its "Tian Shu" range extender has a thermal efficiency of 46%. It raised 30 million yuan in the angel round. Its technical parameters are relatively outstanding among similar projects.

Star Trace Sky (Shanghai, established in December 2025) - A company providing a full - stack solution for steer - by - wire. It raised 30 million yuan in the angel round. Steer - by - wire is a core component of autonomous driving, belonging to the upstream core component layout.

Tantu Smart (Suzhou, established in October 2020) - A company focusing on intelligent scooters and electric bicycles. It raised 300 million yuan in Series B. It is one of the projects with a relatively late investment round among Sky Factory's investments, with a clear short - distance travel scenario.

Other Layouts: Star Sky Dream House (new - energy intelligent RVs), Star River Quest (L4 - level road mobile robots, VLA + world model), First Drive Technology (intelligent two - wheeled electric travel).

V. AI and Consumer Technology Main Line: Cross - border Extension of Algorithm Capabilities

Dreame's AI algorithm capabilities extend to a wider range of consumer scenarios and underlying technologies. Sky Factory has invested in 9 enterprises on this main line, representing the "farthest" ability migration.

Xingyun Integrated Circuit (Beijing, established in August 2023) - A company focusing on large - model inference chips with high memory and heterogeneous white - box technology. Its valuation in the Pre - A round is 2 billion yuan, and it was co - invested with Wuyuan, Chunhua, and Softbank SAIF. This is the most underlying technology layout of Sky Factory.

Shanjiji Technology (Shenzhen, established in December 2019) - A company focusing on AI glasses and charging storage. It raised nearly 100 million yuan in Series A +. It has an active AI memory model technology and is one of the earlier - established enterprises invested by Sky Factory.

Atom El (Jiaxing, established in November 2025) - A company focusing on AI intelligent rings with a "vibrating AI interaction system". It has a 2.5 - mm - thick body embedded with an ultra - miniature motor. It raised 30 million yuan in the angel round.

Immediate Information (Beijing, established in June 2025) - An AI cognitive information platform that advances AI to the "understanding stage". It raised 30 million yuan in the angel round. It is an exploratory layout in the content track.

Atom Remodeling (Shenzhen, established in January 2025) - A company focusing on consumer - grade 3D printing and AI, trying to solve the "last - mile" problem. It raised 100 million yuan in the Pre - A round.

Other Layouts: Singularity Player (multi - modal AI large model, comic drama generation, and digital humans), Cloud Goose Nine Chen (enterprise Agentic OS system), Photon Leap (sports cameras with customized lenses and self - developed anti - shake technology), Lingwei Century (pet AI intelligent hardware).

VI. Other Independent Investments: Scattered but Interesting Explorations

In addition to the five main lines, Sky Factory also has some scattered independent investments covering cross - border directions such as disinfection, tea drinks, agriculture, and mining. A total of 14 enterprises are involved.

VII. Internal Incubation and Spin - off: Dreame's Ecological Chain Investment Experiment

The uniqueness of Sky Factory lies in that it previously also carried out the function of independent financing for Dreame's internal business spin - off. This is similar to Xiaomi's investment model in ecological chain enterprises and is also a special channel to help Dreame push its internally incubated projects to the external capital market.

Currently, 5 enterprises have successfully followed this path. Some of them are teams and products developed by Dreame itself, and some are incubated by Dreame - affiliated enterprises.

For example, Surge Future, spun off from Dreame's internal ODM team, develops pool - cleaning robots, and its products are developed by Dreame on an OEM basis. There is also Shiree Smart Bed, a high - end intelligent sleep brand in the Dreame ecosystem, which re - uses Dreame's motor and algorithm capabilities in its core technology. The company's valuation in Series A is 1 billion yuan. And Dreame Leading Fresh, which uses Dreame's motor/algorithm technology to develop whole - house smart home appliances. Sky Factory participated in the early - stage investment of these three companies, either in the angel round or the pre - A round.

In addition, there are two MOVA ecological chain enterprises. MOVA was incubated by Dreame Technology, focusing on the cleaning appliance field. It was originally a sub - brand of Dreame and was spun off independently after 2024.

Both Huaxing Home/NEXTROOM and Zero Boundary Singularity MOVA TPEAK are MOVA ecological chain enterprises. The former focuses on smart home, and the latter is an intelligent audio enterprise. Sky Factory participated in their angel rounds.

Hidden Concerns Behind the Rapid Expansion?

Overall, the 57 enterprises invested by Sky Factory cover five main lines and scattered investments, showing a layout characteristic of systematic extension around Dreame's core capabilities. Its investment layout is expected to form a collaborative network, but the realization of the collaborative effect still needs time to be verified.

While Sky Factory's rapid expansion shows its strategic ambition, it also raises several hidden concerns that need attention.

Firstly, there is the issue of matching the investment pace with post - investment management. In the first three months of 2026, nearly 40 enterprises were invested in. Whether the depth of due diligence and the ability of post - investment follow - up can keep up with this pace is a significant test for the team.

Secondly, there is the portfolio risk caused by the over - concentration of project stages. More than 60% of the 57 enterprises are in the angel round, and many of them have been established for less than a year, with a naturally high failure rate. The performance of the overall portfolio needs a reasonable expectation of the high failure rate.

A deeper - level problem lies in whether industrial synergy can be truly realized.

Dreame's technology spill - over currently still mostly stays at the theoretical deduction level. Technology migration requires time, running - in, and adaptation. Whether it can truly empower the invested enterprises depends on the depth of subsequent docking.

Meanwhile, the continuous capital injection requirements of the 57 enterprises and the pressure of follow - up investment rounds. If the financing or exit channels are not smooth, the cash - flow pressure will gradually emerge.

Finally, although Sky Factory emphasizes independent fundraising and decision - making mechanisms, its deep association with Dreame may inevitably face conflicts of interest in actual operations. How to strike a balance between industrial synergy and independent judgment is a core challenge at the long - term governance level.

This article is from the WeChat official account “IT Juzi” (ID: itjuzi521), written by Judy and published by 36Kr with authorization.