In a new video titled ‘Our Pitch to Investors,’ smart home company Wyze has teased some of the hardware and features that it has in the pipeline. Wyze says that it has more than 30 “pieces of hardware in the works,” hinting at a huge expansion of its product offerings in the future. The company is hoping to raise funds to give it a bit of security amid the economic downturn.
“While our current business is weathering the COVID-19 storm well, we’ve decided to raise a little bit of cash due to the economic uncertainty out there right now,” Wyze said in the description on its newly published video (below). Wyze says that it is presenting the video at the start of every investor pitch, highlighting how affordable its products are and how far the company has come in a few years.
According to Wyze, it decided against applying for the Paycheck Protection Program, though it says that it could qualify for it. Instead, the company says that it has started talking with investors that have reached out to it; it hasn’t said who may be interested in investing, however.
In the video, Wyze gives the public a very brief look at some of its new upcoming products, including an outdoor camera, a video doorbell, and a smart thermostat, things that will be joined by new services like the recently announced emergency feature in the Wyze app.
Wyze is known for its inexpensive Wyze Cam security camera, which is intended for indoor home use, as well as its Wyze Pan Cam featuring a motorized base. More recently, the company also branched into budget smart home products with the launch of the Wyze connected light bulb, contact sensors, a motion sensor, and a smart home lock.