Mem0 Raises $24M to Build the Memory Layer for AI

The missing piece of intelligence finally finds a home.

For years, we’ve pushed AI to think faster — but never to remember.
Now, a four-person startup from San Francisco is quietly fixing that flaw.

Mem0, founded by Taranjeet Singh and Deshraj Yadav, just raised $24 million from Y Combinator, Peak XV Partners, and Basis Set Ventures to build what they call the “memory layer for AI apps.”

Here’s the problem they’re solving: every time you chat with an AI model, it forgets everything once the conversation ends. There’s no continuity, no context, no growth.
Mem0 flips that — giving your AI a persistent memory passport that travels with you across apps, agents, and devices.

Think of it as Plaid for AI memory — a shared layer that lets developers build personalized, context-aware agents from day one.

Since launching in January 2024, Mem0’s open-source API has exploded:

41K+ GitHub stars
13M+ Python package downloads
186M API calls per quarter
80K developers using its cloud service
It’s even powering the exclusive memory system for AWS’s Agent SDK — a massive validation for a company still under 10 people.

But what makes Mem0 more than another AI infra startup is its story.
Taranjeet, a Paytm and Khatabook alumnus from Bangalore, built one of the first GPT app stores in 2022. Users loved it — but complained that the apps “didn’t remember them.” That feedback sparked Mem0’s pivot: making AI remember.

The duo’s bet is simple but powerful — memory is the missing layer in intelligence.
ChatGPT may soon have long-term recall, but it’s locked inside closed systems. Mem0’s vision is interoperable memory— where your AI remembers you whether you’re using OpenAI, Anthropic, or an open-source model.

And investors are calling it the foundation of personalized AI. As Lan Xuezhao of Basis Set Ventures says, “Memory is foundational to the future of AI — it’s what will make systems contextual, not just capable.”

That’s why this isn’t just another funding story — it’s a signal.
As large language models become commoditized, the real competitive edge shifts to memory, identity, and personalization.

The next decade of AI won’t be about how much a model knows — but how much it remembers about you.

If OpenAI gave AI its voice, Mem0 might just give it a past.

Because intelligence without memory isn’t smart — it’s just fast.