What is Wyze Labs? Wyze Labs Review

Founding Background

In 2017, Dave Crosby co-founded Wyze Labs with Yun Zhang, Elana Fishman, and Dongsheng Song. The company initially gained popularity with its low-cost, smart home surveillance camera Wyze Cam and its accessory Wyze Cam Pan. Since then, it has developed and sold a variety of smart home products from smart scales to light bulbs.

Basic Introduction

Wyze Labs was founded in 2017 by four former Amazon engineers, including CEO Zhang Yun and Chief Product Officer Song Dongsheng, who are Chinese. Wyze Labs is characterized by manufacturing high-quality smart home products at very cost-effective prices, and many of its products are priced at only a fraction of its competitors. Wyze Labs products include cameras, light bulbs, locks, body fat scales and other products.

Company Mission

Wyze Labs aims to provide customers with easy-to-use smart home technology by providing affordable connected home devices.

Development History

In early May 2020, Wyze Labs established a partnership with Noonlight, a network security startup, to integrate emergency service dispatch capabilities to bring more home security protection to Wyze Labs customers. By working with Noonlight, Wyze Labs enables customers to quickly handle emergency services at home with the tap of a button without calling 911.

In May 2020, Wyze Labs announced that it had received $10 million in financing, led by old shareholder Norwest Venture Partners and participated by American Family Ventures. Marcy Venture Partners and Amino Capital later joined this round of investment and added $5 million, bringing the total amount of this round of financing to $15 million. Marcy Venture Partners is an investment institution co-founded by the famous American hip-hop singer Jay Z. The company will use the funds from the new round of financing to improve the back-end technology embedded in the company's products and expand its smart home product line to cope with the COVID-19 crisis.

References

• 1. To build smart home products, "Wyze Labs" received $10 million in financing: Sohu [cited date 2020-05-27T16:00:00.000Z]