Memorado raises $3.3M Series A to become global leader in cognitive enhancement
After growing to 1 million members in less than 6 months, Memorado now has over 3.5 million members just a year after launch. Series A funding led by Creathor Venture and Global Founders Capital with participation from existing investors Sunstone Capital and high-profile angels
Berlin, 26 March 2015 – Berlin-based Memorado, a globally leading brain training and cognitive science startup, today announced it has raised a Series A investment round of $3.3 million. Memorado’s vision is to build the leading cognitive enhancement product at the edge of scientific progress.
“What is commonly understood as cognitive enhancement is traditional education. However, today’s solutions can take a variety of shapes – be it nootropics, EEG-led headbands or mobile brain training”, Marius Luther, founder of Memorado, explains. “With the Series A funding we now have the opportunity to build the leading cognitive enhancement product suite.”
Memorado has been successful at creating a community of more than 3.5 million like-minded users interested in enhancing their cognitive abilities. The company is now building a suite of products that allows its members to take a personalized route towards a stronger brain.
US research firm SharpBrains estimates the digital brain health market to reach $6 billion by 2020. They also argue that over 2 billion people worldwide suffer from brain-based health & productivity challenges resulting in a $2 trillion global economic burden.
Max Niederhofer, General Partner of Sunstone Capital and Board Member of Memorado, said: “Sunstone Capital and Creathor Venture, both leading European venture capital firms that invest in life sciences as well as consumer technology are ideal partners for Memorado’s ambitious future plans. Global Founders Capital adds global scale and further expertise in internationalization.”Cédric Köhler, Managing Partner of Creathor Venture and Board Member of Memorado added: “Memorado’s team and product have everything it takes to become the leader in digital cognitive enhancement. We see a great match with our experience and portfolio in eHealth solutions and mobile technology.”