Country Garden and Poly Group-backed Real Estate Industry Chain Empowerment Fund led a series B round for the vacuum cleaner producer that included Xiaomi.

Real Estate Industry Chain Empowerment Fund, co-founded by property developer Country Garden and conglomerate Poly Group, led a $50m series B round today for China-based cleaning equipment manufacturer Beijing Shunzao Technology.

Consumer electronics provider Xiaomi also took part in the round, as did Blue Lake Capital and Shunwei Capital.

Founded in 2019, Shunzao produces artificial intelligence-powered household cleaning appliances such as portable vacuum cleaners and smart sweeping robots, covering 20 international markets including Germany, Japan, Russia and Singapore.

Shunzao will…

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Edison Fu

Edison Fu is a reporter and Asia liaison at Global Corporate Venturing.
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