AmFam And Jay-Z Are The Latest To Invest In Smart Home Device Company
The venture capital arm of Madison-based American Family Insurance – American Family Ventures – announced their participation in funding in a company that makes internet-connected smart home devices – Wyze Labs Inc. Ever since the launch of the company back in 2017, there has been no turning back for the company. They have released a range of products, such as smart home cameras, bulbs, plugs, scales, and more. With this funding fully approved, the company has decided to set this aside for research and development of new products, including a smart thermostat and a video doorbell.
The American Family Insurance has a history of investing in startups ranging from $250,000 to $5 million.
Most of these startups focused on innovation in insurance-related services, artificial intelligence and data analytics, and internet-of-things technology, primarily around home automation.
The insurance giant has also signed a deal for the naming rights of the home stadium of the Milwaukee Brewers in Milwaukee for the next 15 years starting from 2021.
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