Mem0 Secures $24 Million in Funding to Innovate AI Memory Layer
Mem0, an ambitious startup founded by Taranjeet Singh, has successfully raised $24 million to advance its innovative AI memory solution. The funding includes $3.9 million from a previously undisclosed seed round and a substantial $20 million Series A. Basis Set Ventures leads this latest investment round, with support from notable investors such as Kindred Ventures, Y Combinator, Peak XV Partners, and the GitHub Fund.
At the core of Mem0’s offering is the idea of a “memory passport” for artificial intelligence, allowing AI interactions to retain context and continuity in a way that is reminiscent of human conversation. Unlike traditional large language models, which often reset after each interaction, Mem0 provides a framework where users’ AI memories can be carried seamlessly across different applications and agents, enhancing user experience across platforms.
Established in January 2024 and backed by Y Combinator, Mem0 has already made significant strides. Its open-source API has been recognized as the most widely adopted memory framework among AI developers, achieving over 41,000 stars on GitHub and more than 13 million downloads of its Python package. By Q3 2025, Mem0 had processed a staggering 186 million API calls, growing at approximately 30% each month. Furthermore, over 80,000 developers have registered to use its cloud service, which now handles the most memory operations in the industry and serves as the official memory provider for AWS’s new Agent SDK.
Singh’s journey from Bangalore to Silicon Valley began by establishing a reputation as a software engineer at Paytm before serving as the first growth engineer for Khatabook. His previous venture, while creating a GPT app store, gained a million users and led him to initiate the Embedchain project—a tool for indexing and syncing unstructured data, which garnered significant attention among developers.
Mem0 aims to address the growing need for more versatile and interoperable AI memory systems as industry leaders like OpenAI also explore similar functionalities. Singh emphasizes the importance of a shared memory network, arguing that while AI giants create proprietary memory solutions, there’s a vital need for open and accessible alternatives that empower developers to deliver personalized user experiences from day one.
Anticipating a future where AI systems can evolve and grow based on user interactions, Mem0’s framework is designed to work with various models, whether from OpenAI, Anthropic, or other open-source libraries. The startup appeals to a wide range of customers, from independent developers to enterprise teams enhancing automation tools and AI companions.
As the AI memory landscape expands, Singh and his co-founder Deshraj Yadav are focused on transforming Mem0 into a central player, tackling one of the industry’s key challenges: enabling artificial intelligence to build and sustain contextual memories effectively.
