Nevermined, a cutting-edge startup aiming to create payment infrastructure tailored for AI-to-AI transactions, has raised $4 million in a funding round led by Generative Ventures, with participation from Polymorphic Capital, Near, Halo Capital, Factor Capital, Lyrik Ventures, and Arca.
Revolutionizing AI Commerce
The platform is designed to address the dynamic and complex requirements of AI-Commerce, where traditional payment systems fall short. Positioned as the “PayPal for AI,” Nevermined offers tools for seamless transactions between AI agents. Its services include:
- Payment Processing: Facilitating efficient, instant payments between AI tools.
- Usage Tracking: Monitoring the performance and interactions of AI agents.
- Credit Systems: Providing financial and billing management for AI ecosystems.
The solution equips AI developers with the ability to monetize their applications, acting as a comprehensive finance and billing management platform for emerging AI economies.
Key Voices
Don Gossen, CEO of Nevermined, explained the vision:
“The future of commerce isn’t just about humans trading with humans anymore. It’s about AI agents transacting with other AI agents, and we need entirely new payment systems to facilitate that. This funding will allow us to accelerate our mission of building the financial rails for the emerging AI economy.”
Aitor Argomaniz, CTO of Nevermined, emphasized the need for a dynamic system:
“Current payment infrastructure was built for static transactions, like selling t-shirts on the internet, where the price of a small shirt doesn’t change over time. AI agents are dynamic and require an equally dynamic payment system that can respond instantly to new requests.”
Market Context
Nevermined isn’t alone in tackling this nascent market. Competitor AIsa recently launched its own payment infrastructure, also focused on the unique demands of AI-to-AI commerce.
Future Plans
With this funding, Nevermined aims to accelerate the development of its protocol, solidifying its role as the foundational financial layer for AI Commerce, a market expected to expand significantly as generative AI adoption continues to grow.