Rapper, songwriter, businessman Jay-Z has reportedly made a huge investment in smart home tech recently. Through Marcy Venture Partners, Jay-Z sent $110 million into Wyze Labs’ coffers. That brings the smart home device maker’s total funding to date to $146 million. The smart home tech company, founded in 2017 by Amazon veterans, has more than 300 employees. The work Wyze is doing with AI and camera technology will definitely. benefit from the extra cash.
“We are doubling down and investing heavily to build world-class artificial intelligence into our camera products,” Wyze co-founder and Chief Marketing Officer Dave Crosby told GeekWire in a recent piece. “Just in the last year, our AI team has built person detection, vehicle detection, package detection and pet detection into our cameras. “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.”