Wyze has acquired $10 million in capital through venture companies like Norwest Ventures and American Family Ventures. This report was from Taylor Soper, Geekwire. Wyze Labs is intent to use the money to provide customers with new product categories to align themselves with the smart home market. They also intend to use the money to improve their AI.
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Wyze Improving AI
Apart from the news to create new product categories, the move to improve its artificial intelligence (AI) is a growing trend in the Smart Home industry. Apple announced it’s acquisition into AI this week. Alibaba has also announced it’s $1.4 billion dollar investment in their own into AI. It goes to show that our smart home is getting smarter.
Wyze Creating New Product Categories
Wyze Labs, the company that could, is starting to forge their way in the Smart Home market share. The new product categories could include improved contact and motion sensors, light switches, no-voice control. I can only speculate at this point, however, it will be good to see how Wyze will integrate all their new devices. It’s also fascinating to see Wyze finding ways to create new things with an investment of $10 million. It will be exciting to see what they produce.