Nevermined received fresh funding to develop a payment system tailored for seamless transactions between AI agents, addressing the limitations of traditional payment infrastructure in the rapidly evolving AI-Commerce space.
Nevermined, a pioneering provider of AI payment infrastructure for AI-to-AI transactions, has announced it raised over $4 million in funding to advance AI-Commerce via its “PayPal for AI” platform.
The funding round, led by Generative Ventures with contributions from Polymorphic Capital, NEAR, Halo Capital, Factor Capital, Lyrik Ventures, and Arca, also included investments from prominent AI experts such as David Minarsch and Oak (Valory, creators of Olas), Richard Blythman and Mark Schmidt (Naptha), and Ben Fielding (Gensyn).
The fresh funding will boost the development of Nevermined’s AI agent platform, which is a crucial tool for the emerging AI economy. This platform enables AI developers to monetise applications by managing payments, usage tracking, and credit systems, serving as a financial and billing management solution for AI tools. Besides, it serves as an essential financial infrastructure for AI agents to discover, negotiate, and transact in real-time.
The company’s CEO Don Gossen emphasized the paradigm shift in commerce: “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.” With a focus on scaling AI-commerce, the company aims to power an economy driven by trillions of AI agents in the future.
Existing payment systems were designed for fixed transactions, where the price remains constant, explained Aitor Argomaniz, CTO of Nevermined. In contrast, AI agents operate dynamically and need a payment system capable of adapting instantly to changing demands. The company has already laid the groundwork and is now focused on driving adoption among both AI developers and AI agents.
To promote the AI-driven economy, Nevermined has established collaborations with leading industry players like Olas, Naptha, peaq, Flock, and Combinder. With the new $4M funding, the firm can now enhance industry partnerships, expand its team and implement a go-to-market strategy.
With AI predicted to contribute $13 trillion to the global economy by 2030 (according to McKinsey Global Institute), Nevermined’s technology is poised to enable efficient monetization and seamless transactions in this nascent but rapidly growing ecosystem.
