Jay-Z has reportedly invested $ 110 million in smart home device maker Wyze Labs through his company Marcy Venture Partners, which he co-founded with Larry Marcus and Jay Brown. The company specializes in products such as digital thermostats, security cameras and robot vacuums.

The investment from the New York rap legend brings total funding for Wyze Labs to $ 146 million to date. It was founded in 2017 by Amazon veterans and today has more than 300 employees.

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“We are doubling down and investing heavily to incorporate world-class artificial intelligence into our photo products,” Wyze co-founder and chief marketing officer Dave Crosby told GeekWire in a recent article. “In the past year alone, our AI team has integrated people detection, vehicle detection, parcel detection and animal detection into our cameras. “Right now we have some AI features going on that we think will be a real game-changer for any camera, let alone a device that costs less than $ 36.”

Jay and his venture capital firm were active in 2021, investing money in NBA star Chris Paul’s vegan cheese brand and an NFT-branded company, Bitski. Jay also recently opened the doors of his New York club, 40/40, following its closure due to the COVID-19 pandemic.

[Via]