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

Jay-Z's Marcy Venture Partners invested over $100 million into a smart-home technology company.

BYCole Blake
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Dimitrios Kambouris / Getty Images

Jay-Z has reportedly invested $110 million into the smart-home device maker, Wyze Labs, through his firm 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 vacuum robots.

The investment from the New York rap legend brings Wyze Labs' total funding to $146 million to date. It was founded in 2017 by Amazon veterans and now boasts over 300 employees.

Craig Barritt / Getty Images

“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.”

Jay and his venture capital firm have been active in 2021, putting money into NBA star Chris Paul’s vegan cheese brand and an NFT branding company, Bitski. Jay also recently opened the doors to his NYC club, 40/40, following its closure due to the COVID-19 pandemic.


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About The Author
Cole Blake is currently an Editor at HotNewHipHop based out of Brooklyn, New York. He began working at the site as an intern back in 2018 while studying journalism at St. John’s University. In the time since, he’s graduated with a bachelor's degree and written extensively about a wide range of topics including pop culture, film & television, politics, video games, sports, and much more. He’s also covered music festivals such as Gov. Ball and Rolling Loud. You can find him publishing work for HNHH from Monday to Wednesday or on weekends. On the sports front, Cole’s a passionate NBA and NFL fan with his favorite teams being the Indianapolis Colts and Los Angeles Lakers. He also roots for the Yankees whenever he finds himself at Yankee Stadium or the Red Storm when in the company of other SJU alumni. His favorite hip-hop artists are billy woods, Earl Sweatshirt, Cam’ron, MIKE, and Mach-Hommy.