Norwest Venture Partners led the round
Smart home security startup Wyze Labs recently raised a $20 million Series A round from Norwest Venture Partners, according to GeekWire.
What they do: The startup sells a smart home camera for $20. In addition to a video feed, the camera recognizes smoke and carbon monoxide alarm sound patterns.
New Trend: Wyze Labs’ founder Dave Crosby believes that when it comes to certain home electronics, customers don’t value familiar brand names as they have in the past. Crosby left Amazon with his partner in 2017 to start the company.