Nevermined Raises $4M to Transform AI-Commerce with Innovative AI Payment Protocol
Nevermined, a pioneering company in AI payment infrastructure, has successfully secured $4 million in funding to boost the adoption of its innovative AI-Commerce payment protocol. This investment is expected to play a crucial role in enhancing the efficiency of AI-to-AI transactions, a growing area of interest in the tech industry.
Funding Details and Key Players
The funding round was spearheaded by Generative Ventures, with additional investments from notable firms including Polymorphic Capital, NEAR, Halo Capital, Factor Capital, Lyrik Ventures, and Arca. Esteemed AI experts such as David Minarsch, Oak from Valory, Richard Blythman, Mark Schmidt from Naptha, and Ben Fielding from Gensyn also participated in this funding round.
Nevermined: The “PayPal for AI”
Often referred to as the “PayPal for AI,” Nevermined’s platform is tailored to facilitate seamless transactions between AI agents. This innovative system effectively addresses the specific challenges encountered in AI-Commerce, which traditional payment systems struggle to manage.
- Enablement of seamless payments between AI agents
- Support for AI developers in monetizing their tools
- Management of payments and usage tracking
- Provision of credit systems for AI tools and agents
Strategic Goals and Market Expansion
The newly acquired funding will significantly accelerate Nevermined’s go-to-market strategy, allowing the company to:
- Expand its team
- Strengthen partnerships within the AI ecosystem
- Develop foundational financial infrastructure for the evolving AI-Commerce landscape
Company Background and Leadership
Founded by Don Gossen and Aitor Argomaniz, both of whom previously worked with Ocean Protocol, Nevermined combines expertise in AI, machine learning, data, and Web3 technologies to tackle the complexities of AI-to-AI transactions. The company has already formed strategic partnerships with various industry players, including Olas, Naptha, peaq, FLock, and Combinder.
Vision for the Future
According to Don Gossen, CEO of Nevermined, “The future of commerce is shifting from human-to-human interactions to AI agents transacting with each other. This evolution necessitates entirely new payment systems.”
Aitor Argomaniz, Co-founder and CTO, emphasized, “The existing payment infrastructure is designed for static transactions, but AI agents are dynamic and require a flexible payments system that can respond in real-time to new requests. We have laid the groundwork and are now focused on increasing user adoption among both AI developers and agents.”
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