Nevermined has raised funding to develop its cutting-edge AI payment platform, often referred to as the “PayPal for AI,” which will enable AI systems to transact with each other directly.
Nevermined, a company focused on improving how artificial intelligence (AI) systems handle payments, has secured $4M in funding to develop its cutting-edge AI payment platform. Often referred to as the “PayPal for AI,” this platform will enable AI tools and systems to transact with one another directly. The funding round was led by Generative Ventures, with participation from Polymorphic Capital, NEAR, Halo Capital, Factor Capital, Lyrik Ventures, and Arca. Additional backing came from prominent AI experts, including David Minarsch, Oak, Richard Blythman, Mark Schmidt, and Ben Fielding.
As AI becomes a vital part of business operations, there is a growing need for specialised payment systems that cater to the unique requirements of AI tools. Many developers are currently stuck with outdated payment options that fail to meet their needs. Nevermined is stepping in to address this gap by offering a fast, flexible solution that simplifies payments between AI systems.
Making payments easy and adaptable for AI platforms
Nevermined’s AI payment platform is designed to tackle the challenges of AI-to-AI transactions. Traditional payment systems are too inflexible to support the dynamic nature of AI interactions. Nevermined’s solution allows AI developers to monetise their tools by managing payments, tracking usage, and handling credit systems. It also provides AI systems with the ability to set flexible pricing and process payments in real time.
“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.”
Founded by Don Gossen and Aitor Argomaniz, who previously contributed to the development of Ocean Protocol, Nevermined is leveraging expertise in AI, machine learning, data, and Web3 technology to solve the complexities of AI commerce. The company has already established partnerships with notable players in the industry, such as Olas, Naptha, peaq, Flock, and Combinder, underscoring the growing demand for its innovative tools.
Nevermined is at the forefront of AI payment infrastructure, facilitating AI-to-AI transactions and ushering in a new era of AI-Commerce. The company enables AI agents to discover, negotiate, and compensate each other in real-time, fostering an economy comprised of trillions of AI agents. By delivering the vital payment infrastructure necessary for direct AI transactions, Nevermined is establishing itself as a leader in the burgeoning AI-Commerce sector.
Preparing for the next wave of AI payment platform growth
The payment systems we use today were originally designed for straightforward transactions, such as online retail. However, AI systems are far more dynamic and require tools that can adapt to their changing needs. “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,” explained Aitor Argomaniz, CTO of Nevermined. “AI agents are dynamic and require an equally dynamic payment 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.”
Nevermined’s platform is specifically designed to handle these rapidly evolving requirements. By ensuring seamless and flexible transactions between AI tools, it paves the way for AI systems to collaborate effectively. As the global economy increasingly incorporates AI, experts predict the emergence of trillions of AI systems, unlocking new possibilities for commerce. According to the McKinsey Global Institute, AI could add an additional $13 trillion to the global economy by 2030. Nevermined’s platform is poised to play a key role in enabling this transformation by providing efficient payment infrastructure.
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With the fresh injection of funds, Nevermined plans to scale its operations by expanding its team, forging stronger partnerships in the AI ecosystem, and accelerating the rollout of its payment platform. These efforts are aimed at establishing Nevermined as the leading solution for AI payment systems. The company also intends to enhance its technology with new features, such as flexible pricing models, faster payment processing, and improved integration with other AI tools.
Nevermined remains committed to collaborating closely with developers and industry leaders to ensure its platform becomes a cornerstone of the AI-driven economy. By creating user-friendly yet powerful tools, the company is setting the stage for a new era of commerce, where AI systems can operate and trade independently.
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