Jay-Z Reportedly Invests $110 Million Into Smart-Home Technology Company

Previously, it was speculated that Jay-Z was tied to possibly purchasing the Denver Broncos, a claim that was denied by the team of the rapper-turned-mogul. Now, it has been revealed that Jay-Z has invested $110 million into a smart-home technology company.

Reports noted that Marcy Venture Partners put a massive amount of money into Wyze Labs, a smart-home device maker. Because of the investment by the rapper and his company, Wyze Labs’ total funding comes up to $146 million. The company currently has over 300 employees.

Wyze co-founder Dave Crosby spoke on the company’s direction, saying, “We are doubling down and investing heavily to build world-class artificial intelligence into our camera products.” He continued by saying, “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.” Stay tuned for more updates.

source: Geekwire

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