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

Taranjeet Singh (pictured above, right) has launched six companies, some of which failed and others had mixed success. His seventh, Memory0could be his defining factor.

The startup assumes that large language models cannot remember previous interactions the way humans do. If two people are chatting and the connection is lost, they can resume the conversation. AI models, on the other hand, forget everything and start all over again.

Mem0 solves that. Singh calls it a “memory passport,” in which your AI memory travels with you through apps and agents, much like email or logins do today. Launched in January 2024, the YC-backed startup has raised $24 million ($3.9 million in previously unannounced seed funding and a $20 million Series A funding).

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 have helped shape the modern software ecosystem, betting on Mem0 (pronounced “mem zero”) underlines its promise, and the traction of the four-person team supports this promise.

To date, the open source API, which claims to be the most widely used memory framework for AI developers, has surpassed 41,000 GitHub stars and recorded more than 13 million Python package downloads. In the first quarter of 2025, Mem0 processed 35 million API calls. By the third quarter, that number had risen to 186 million, a growth of about 30% month over month.

In addition to open source adoption, more than 80,000 developers have signed up for the cloud service. Mem0’s cloud API now handles more memory operations than any other provider and serves as the exclusive memory provider for AWS’s new Agent SDK.

In early 2023, Singh was still in Bangalore, India. He started his career as a software engineer at Paytm, one of India’s most valuable startups, before becoming Khatabook’s first growth engineer. He quit at the end of 2022, just as the ChatGPT wave was about to peak, and built one of the first GPT app stores, which scaled to over a million users.

That experience led him to create Embedchain, an open source project that allows developers to index, retrieve, and sync unstructured data. When the project launched and spawned more than 8,000 GitHub stars, Singh sent more than 200 cold emails to founders, investors and engineers in Silicon Valley.

“I reached out to almost every famous tech entrepreneur you may have heard of and was quite persistent. Some of them responded and after hearing from us, we planned to fly from Bangalore to San Francisco within 36 hours,” Singh said.

Once in the US, Singh reconnected with his old friend and now co-founder and CTO, Deshraj Yadav, who had led the AI ​​platform at Tesla Autopilot. Together they had previously built EvalAI, an open source Kaggle alternative that grew to 1.6K GitHub stars.

While experimenting with Embedchain, the duo launched a meditation app inspired by Indian yogi Sadhguru. The app went viral in India, but Singh says users kept sharing the same feedback: “Hey, I’m on a meditative journey, but the app doesn’t remember that.” So they switched from Embedchain to Mem0 to solve that problem.

The idea of ​​memory for AI is not new, but it is quickly becoming a crucial battleground. For example, OpenAI started testing long-term memory features in ChatGPT in early 2024, and its CEO, Sam Altman, has hinted that persistent memory will be central to OpenAI’s upcoming hardware device. Other AI labs are also launching experimental memory systems for their agents.

Singh argues that while major AI labs are building memory systems, they have little incentive to make them portable or interoperable. “Memory is becoming one of their most important assets as LLMs become more common,” he said.

He explains that while consumers can enjoy persistent, personalized experiences in ChatGPT, developers who want to build applications – for example, a financial partner that remembers a user’s trading history – need an open, neutral solution like Mem0.

“We want developers to be able to deliver personalization from day one over a shared memory network,” says Singh. “Think of it as Plaid for memory. That’s the second act. For now, we’re focused on building the best possible memory product.”

Mem0’s framework allows developers to store, retrieve, and evolve user memory for various models, applications, and platforms. It is model agnostic, compatible with OpenAI, Anthropic or any open source LLM, and integrates directly with frameworks such as LangChain and LlamaIndex.

Developers use Mem0 to create applications that get smarter with every interaction: therapy bots that recall past conversations, productivity agents that remember personal habits, and AI companions that adapt over time. Customers range from indie developers to enterprise teams building copilots and automation tools.

“We have supported Mem0 from the beginning – even before YC – because memory is fundamental to the future of AI,” says Lan Xuezhaofounder and partner at Basis Set Ventures. “We are doubling down as the team continues to tackle one of the toughest and most important infrastructure challenges: enabling AI systems to build durable, contextual memory.”

Other early-stage memory startups include Supermemory (whose founder briefly worked at Mem0), Letta, backed by Felicis, and Memories.ai.