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

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Taranjeet Singh (pictured above, right) has launched six companies, with some failing and others seeing varying degrees of success. His seventh, Mem0, could be his defining one.

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 and Y Combinator, as well as new backers including Peak XV Partners and the GitHub Fund.

Notable angels include Dharmesh Shah (HubSpot), Scott Belsky (ex-CPO Adobe), Olivier Pomel (Datadog), Thomas Dohmke (ex-CEO GitHub), Paul Copplestone (Supabase), James Hawkins (PostHog), Lukas Biewald (Weights & Biases), Brian Balfour (Reforge), Philip Rathle (Neo4j), and Jennifer Taylor (former president, Plaid).

Having several leaders who helped shape the modern software ecosystem bet on Mem0 (pronounced “mem zero”) underscores its promise, and the traction from the four-person team backs it up.

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.

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