Brain Training Startup Memorado raises €1 million Seed Round

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Memorado, a Berlin, Germany based brain training app, has disclosed a €1 million Seed Round closed in March. The funding comes from Sunstone Capital and a who-is-who of Berlin tech founders including Robert Gentz and David Schneider of Zalando, Arne Bleckwenn of Wimdu, Janis Zech of Fyber, and Jan Beckers of Hitfox reports Gründerszene.

Memorado was launched in February by Wimdu co-founders Marius Jeuck und Marius Luther after they had left the company. The startup claims to have over one million users across the world today with its largest audience being in the United States where brain training games are already well established.

Lumos Labs, the company behind Lumosity which is currently one of the leading products in the space, has raised over $67.5 million total in four venture rounds since its launch in 2005. The last round was a $31.5 million Series D in 2012. At that time Lumosity had over 25 million users and claimed quarterly revenue growth of 25%.

Another player in the space is the team behind Mindsnacks which launched their brain training app Elevate in June.

In the past six months, Memorado has made it to the top spot of the iTunes Store in 22 countries, underlining the popularity of brain training games across different markets. Apparently, the app saw a huge growth via Facebook, resulting in 100k fans in just a couple of weeks according to Product Reviews.

Marius Luther, who worked as a healthcare consultant at McKinsey, told TechCrunch that there was still a lot of work ahead for products in the space including personalization which is the field he and his 10 person engineering team are tackling as a priority.

Further Reading

  • Brain Training Startup Memorado Raises $1.3M | TechCrunch
  • Gründer von Hitfox, Edarling und Zalando investieren in Gehirntraining-Startup | Gründerszene

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Kay Alexander

Managing Editor at EDUKWEST Europe
Kay Alexander is the Managing Editor of EDUKWEST Europe and Creative Director of Winkler Media.

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