Rising smart-home device maker, Wyze Labs, has pulled together $110 million in fundings. According to Geek Wire, this latest rounding of funding comes by way of Marcy Venture Partners, an investment group led by Larry Marcus, Jay Brown and Shawn “Jay-Z” Carter. In the past, Carter and company have invested in Hipcamp, Hungry, Wheels and Versed. Not to mentioned, they previously invested $15 million into the company during Series A funding.
Wyze Labs is responsible for creating a variety of home security equipment including security cameras, robot vacuums and more. With this latest round of funding, Wyze is looking to improve AI features in their camera products.
“We are doubling down and investing heavily to build world-class artificial intelligence into our camera products. Just in the last year, our AI team has built person detection, vehicle detection, package detection and pet detection into our cameras,” Wyze Labs Chief Marketing Officer Dave Crosby explained to Geek Wire.
“Right now we have AI features in the works that we truly think will be game-changing for any camera, let alone one that costs less than $36.”
You aren't ready for the awesomeness coming your way! pic.twitter.com/PT4YdiGNTA
— Wyze ? (@WyzeCam) September 17, 2021