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Brain-training games website Memorado has raised $3.3 million in a Series A investment round.
Berlin-based Memorado has grown to over 3.5 million members since its launch one year ago through minimal spend and mostly by word of mouth. The company is now putting funds raised toward building a suite of products that would let users personalize brain strengthening regimens. The product, which it says was built with neuroscientists and games experts, sets out to gamify brain-building tasks. The cognitive-enhancement platform is accessible on mobile platforms, letting the company tap into the $25 billion mobile game market while also touching on health care and education.
Creathor Venture and Global Founders Capital lead the investment, with participation from Sunstone Capital and other angels. With the $1.3 million the company collected last year, it has raised $4.6 million to date.
Memorado’s site has a free trial, and it offers subscription plans for those interested beyond that.
Three top investment pros open up about what it takes to get your video game funded.
Lumosity offers a similar brain-training product online, and mobile app Elevate does something similar on mobile. But Memorado says it offers brain-training deeply rooted in science for mobile devices, and it has global traction in China, Russia, Germany, and the U.S.
The company believes that cognitive enhancement will be the megatrend of the 21st century. Providing a solution to appeal to people worldwide is its primary goal, calling its solution “casual games with a serious purpose.”
“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,” said Memorado founder Marius Luther in a statement. “With the Series A funding we now have the opportunity to build the leading cognitive enhancement product suite.”
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