Nevermined, a startup building payments infrastructure for AI-to-AI transactions, has raised $4 million in funding.
Generative Ventures led the round, with participation from Polymorphic Capital, Near, Halo Capital, Factor Capital, Lyrik Ventures and Arca.
Nevermined is developing the "PayPal for AI" to enable seamless payments between AI agents. The company's protocol is designed to address the unique challenges of AI-Commerce, where, it says, 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.
Don Gossen, CEO, Nevermined, says: "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, Nevermined, adds: "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 payments system that can respond instantly to new requests."
Nevermined is not the only startup tackling the AI-commerce market: AIsa has just launched its own payment infrastructure tailored to the unique needs of the AI economy.