Looking to accelerate the adoption of AI commerce, Nevermined, the AI payment infrastructure provider for AI-to-AI transactions, has raised $4million in its latest funding round.
The raised funds will further enhance Nevermined’s ability to enable AI agents to pay and get paid. The firm is developing the ‘PayPal for AI’ to enable seamless payments between AI agents, actively driving the transformation of all commercial landscapes.
The company’s protocol is designed to address the challenges of AI commerce, where traditional rigid payment systems fall short. Nevermined helps AI developers monetise their applications by managing payments, usage tracking, and credit systems – essentially acting as a finance and billing management platform for AI agents and tools.
Founded by Don Gossen and Aitor Argomaniz, who previously built Ocean Protocol, Nevermined combines expertise in machine learning, AI, data, and Web3 to solve the challenges of AI commerce. The company has already secured partnerships with industry players including Olas, Naptha, peaq, FLock, and Combinder.
“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,” said Don Gossen, CEO of Nevermined. “This funding will allow us to accelerate our mission of building the financial rails for the emerging AI economy.”
Breaking down the raise
The funding round was led by Generative Ventures, with participation from
- Polymorphic Capital
- NEAR
- Halo Capital
- Factor Capital
- Lyrik Ventures
- Arca
In addition, the round includes investment from notable AI luminaries, namely:
- David Minarsch and Oak from Valory, the builders of Olas
- Richard Blythman and Mark Schmidt from Naptha
- Ben Fielding from Gensyn
“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,” noted Aitor Argomaniz, CTO of Nevermined. “AI agents are dynamic and require an equally dynamic payments system that can respond instantly to new requests. We’ve built the foundation already, and now we want to grow user adoption from both AI builders and AI agents.”
The investment comes at a crucial time as McKinsey Global Institute predicts AI technologies could deliver an additional economic output of $13trillion by 2030. Nevermined aims to unlock this potential by enabling efficient monetisation through variable pricing models and ensuring easy transactions between AI agents.
The funding will be used to accelerate the go-to-market strategy, expand the team, and strengthen partnerships within the AI ecosystem.
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