Former Google and Ripple executives have raised $8.5 million for a startup, called Skyfire, building a payments network that enables AI agents to make autonomous transactions.
AI agents, which are designed to perform specific tasks, answer questions, and automate processes for users, are becoming increasingly common. However, Skyfire argues that they are limited because they cannot make or receive payments without human oversight.
“AI can't truly change the world until it can transact freely. Agents need more than intelligence; they need the autonomy to complete economic tasks without human intervention. That’s the AI economy,” says Craig DeWitt, head of product, Skyfire.
Skyfire has built an operating layer that it says delivers critical missing components for AI commerce, including secure wallet access, verifiable agent identity, and an open payment protocol for service requests, purchasing decisions, and instant transactions without human intervention.
DeWitt and CEO Amir Sarhangi worked together at Ripple. Previously, Sarhangi, founded Jibe mobile, which was acquired by Google and served as the backbone of Android Messenger.
Says Sarhangi: "AI Agents are a brand new customer base for businesses and a game-changing opportunity. Agentic AI commerce will surpass every payment innovation we've known, from credit cards to PayPal...We see a future where millions of AI Agents transact globally and autonomously through Skyfire, driving new revenue streams and transforming the way business is done."
Funding for the venture comes from Neuberger Berman, Brevan Howard Digital, Intersection Growth Partners, DRW, Inception Capital, Arrington Capital, RedBeard Ventures, Sfermion, Circle, FBG, Gemini, Crossbeam Venture Partners, EveryRealm, Draper Associates, ARCA, and Ripple.