Letta Secures $10 Million Seed Funding Led By Felicis Ventures At $70 Million Valuation

Letta, an AI startup founded by Berkeley PhD students Sarah Wooders and Charles Packer, has emerged from stealth with $10 million in seed funding led by Felicis at a $70 million post-money valuation. Letta's technology, based on the open-source project MemGPT, helps AI models remember users and conversations over time, addressing a key issue with large language models (LLMs). Backed by prominent investors like Google’s Jeff Dean and Hugging Face’s Clem Delangue, Letta is positioning itself as an open-source alternative to proprietary AI solutions.

INVESTORS: Felicis Ventures, Jeff Dean, Clem Delangue, Cristóbal Valenzuela & Robert Nishihara

ROUND: Seed AMOUNT: $10,000,000

HQ: #Berkeley #California

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