It started functioning on February 14, 2010. He was the dalawa or the prime minister between 1802 and 1809 during the reign of Bala Rama Varma Kulasekhara Perumal of Travancore. The dalawa was one of the first people to voice his opposition against the British as they imposed their reign. He had a lot of enemies over the course of his rule. After a tumultuous time where he was fighting the British, a long time on the run, he found himself surrounded by the enemies. Never one to surrender, he committed suicide at the Bhagavathy temple at Mannadi where he had sought refuge.
The memorial is maintained by the archaeological department with an open-air gallery that includes portraits of all the rulers, from Marthanda Varma to Sree Chithra Thirunal of Travancore. It also includes a picture gallery showing the life of Veluthampi Dalawa. The statue of Veluthampi Dalawa is a major attraction here. You can also see stone statues of the Buddha and artefacts of the time including utensils, canons, military equipment and the like.