Nevermined, a Switzerland-based AI payment infrastructure provider, has successfully raised $4 million, bringing its total funding to $7 million. This funding, led by Generative Ventures and supported by several other investors, will help the company develop what it calls the “PayPal for AI.” The goal is to enable seamless transactions between AI agents, revolutionizing how commerce is conducted in the age of automation. Unlike traditional payment systems designed for human transactions, Nevermined’s platform aims to create a dynamic payment system that can respond instantly to AI requests. With plans to expand its team and strengthen partnerships, Nevermined is set to accelerate its efforts in building the financial foundation for the emerging AI economy.
AI Payment Infrastructure Provider Nevermined Raises $4 Million to Power AI Transactions
Nevermined, a Switzerland-based company that focuses on AI payment infrastructure, has successfully raised over $4 million in funding. This new investment increases its total funding to $7 million, with the aim of creating a “PayPal for AI,” which will enable seamless transactions between AI agents.
Leading the funding round was Generative Ventures, accompanied by contributions from various investors including Polymorphic Capital, NEAR, Halo Capital, and Arca. The company also received support from notable individuals within the tech community.
Don Gossen, CEO of Nevermined, stated, “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 shift signals an important transformation in how transactions take place.
With the rise of AI-commerce, traditional banking methods will no longer suffice. Nevermined aims to create a system where AI agents can autonomously interact, negotiate, and transact. This innovative approach promises faster, smarter, and more personalized solutions across various industries, including logistics and digital marketplaces.
The funding will be utilized to expedite Nevermined’s go-to-Market strategy, expand its workforce, and enhance partnerships within the AI ecosystem. Gossen emphasized, “This funding will allow us to accelerate our mission of building the financial rails for the emerging AI economy.”
Founded in 2022, Nevermined is pushing the boundaries of what payment systems can do for AI. By developing technologies that allow AI developers to manage payments, usage tracking, and credit systems, Nevermined is paving the way for a more dynamic system that meets the evolving needs of AI agents.
Aitor Argomaniz, CTO of Nevermined, pointed out the limitations of current payment systems designed for static transactions. He stated, “AI agents are dynamic and require an equally dynamic payments system that can respond instantly to new requests.” With substantial groundwork already laid, Nevermined is now poised to increase user adoption among both AI developers and AI agents.
In summary, Nevermined’s recent funding round highlights the growing need for specialized payment infrastructures capable of serving the demands of AI commerce. As the landscape evolves, Nevermined aims to secure its position at the forefront of this new economic wave.
This investment signifies an important moment in the AI industry, where intelligent commerce is becoming the norm rather than the exception.
Tags: Nevermined, AI payments, Generative Ventures, funding news, AI commerce
What is Nevermined’s recent funding about?
Nevermined recently raised $4 million to develop a decentralized AI payments protocol. This funding aims to improve how payments are made in the AI space using blockchain technology.
Why is decentralized payment important?
Decentralized payments are important because they remove middlemen, reduce costs, and enhance security. This allows for more direct transactions between users and service providers.
How will the funding impact Nevermined’s technology?
The funding will help Nevermined enhance its technology, making it easier and safer for users to handle payments for AI services, thus expanding its Market reach.
Who are the main investors in this funding round?
The funding round included various investors, but specific names and details have not been released. The focus is on the collective support for advancing decentralized payment solutions.
What are the future plans for Nevermined?
In the future, Nevermined plans to launch new features and expand its network, aiming to become a leader in the decentralized AI payments Market and enhance user experiences.