New product: The spotlight is once again shining on Seattle-based smart home products maker Wyze Labs, which announced Tuesday that it’s taking preorders for a new Wyze Floor Lamp. Priced at $29.99, the smart dimming task lamp stands nearly 6 feet tall and relies on a Bluetooth remote for 11 levels of brightness adjustment. Artificial intelligence in the remote learns a user’s desired settings over time.
Busy startup: Wyze has launched 30 products total, including everything from security cameras to robot vacuums to thermostats, and 17 of those products have launched in the last 12 months.
Kyle Christensen, Wyze senior product marketing manager, said the development of new products from idea to release varies from months to years for the 4-year-old company.
“We have a great Wyze community that helps us define products, and we use those requirements to work with partners to build the things our customers want,” Christensen said. “We also have over 100 developers that build excellent software and firmware to make everything a seamless Wyze experience.”
Christensen said Wyze employs about 160 people and the Wyze community has more than 5 million users, and is growing every day.
Funding: The company closed out a $15 million funding round at the end of July 2020, with investment from hip-hop star Jay Z’s Marcy Venture Partners. Founded by Amazon vets Dave Crosby, Yun Zhang, Elana Fishman and Dongsheng Song, Wyze has raised $36 million to date.
Competition: Christensen said Wyze’s competition is “the status quo.” The company has found success by undercutting more expansive smart home product manufacturers, starting in 2017 with its popular first product, the low-cost Wyze Cam security camera.
“The smart home market is only ramping up and millions of households haven’t realized the potential of a connected home,” Christensen said. “It’s our business to educate them on the convenience, simplicity, and accessibility of products like ours that make life so much easier.”
More news: Wyze announced last week that it is expanding its partnership with connected safety technology company Noonlight. The partnership allows Wyze customers to create a DIY connected home security system with professional monitoring for $4.99 per month.
