Mem0 raises $24M from YC, Peak XV and Basis Set to build the memory layer for AI apps | TechCrunch

"The startup starts with the premise that large language models can't remember past interactions the way humans do. If two people are chatting and the connection drops, they can resume the conversation. AI models, by contrast, forget everything and start from scratch. Mem0 fixes that. Singh calls it a "memory passport," where your AI memory travels with you across apps and agents, just like email or logins do today."

"The YC-backed startup, launched in January 2024, has raised $24 million ($3.9 million in previously unannounced seed funding and a $20 million Series A). AI-focused early-stage fund Basis Set Ventures led the Series A, with participation from existing investors Kindred Ventures, which led its seed round, and Y Combinator, as well as new backers including Peak XV Partners and the GitHub Fund."

"So far, the open source API, which claims to be the most widely adopted memory framework for AI developers, has surpassed 41,000 GitHub stars and recorded over 13 million Python package downloads. In Q1 2025, Mem0 processed 35 million API calls. By Q3, that number jumped to 186 million, growing roughly 30% month over month. Beyond open source adoption, more than 80,000 developers have signed up for its cloud service."

Mem0 launched in January 2024 as an AI memory service that gives language models persistent conversational memory across applications. The platform implements a portable "memory passport" so users retain context across agents and apps. Mem0 raised $24 million across seed and Series A rounds led by Basis Set Ventures, with participation from Kindred Ventures, Y Combinator, Peak XV Partners, the GitHub Fund, and numerous notable angel investors. The open-source API claims wide adoption with over 41,000 GitHub stars and 13 million Python downloads. The cloud service has more than 80,000 developer sign-ups and recorded rapid growth in API calls, reaching 186 million by Q3.

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