Swiss startup Nevermined SÀRL has successfully raised $4 million to enhance its decentralized payment system for AI-to-AI transactions. Aiming to be the “PayPal for AI,” the funding will help develop tools that allow AI agents to conduct automatic commerce while also providing payment management solutions for developers. With a focus on dynamic pricing models, Nevermined leverages blockchain and smart contracts to address the needs of autonomous AI agents, which can perform complex tasks without human intervention. This innovation comes as AI technologies are predicted to significantly boost the global economy by 2030. Partnering with various AI companies, Nevermined is committed to building the future financial infrastructure for a new AI-driven Market.
Swiss AI Payments Startup Nevermined Raises $4 Million to Accelerate AI-to-AI Transactions
Nevermined SÀRL, a Swiss startup focused on artificial intelligence payments, has successfully secured $4 million in funding. This investment aims to speed up the development of its unique decentralized infrastructure that facilitates AI-to-AI transactions, allowing advanced AI agents to conduct automated commerce.
Key Investors and Vision
The funding round was led by Generative Ventures, featuring participation from prominent investors including Polymorphic Capital, Near Protocol, and Halo Capital, among others. Nevermined aspires to be the “PayPal for AI,” providing a streamlined payment system where AI agents can seamlessly pay one another. This shift simplifies payment management for AI developers, offering essential tools for tracking usage and creating credit systems.
The Rise of AI Agents
AI agents represent a new generation of artificial intelligence, capable of performing complex tasks without human intervention. Unlike traditional models, such as ChatGPT, which rely on human input, these agents can engage autonomously in transactions, making them a key trend in modern business.
Transforming Payment Systems
To address the limitations of traditional payment systems, Nevermined leverages Web3 technologies, including blockchain and smart contracts. As Chief Technology Officer Aitor Argomaniz noted, the current payment infrastructure is static and ill-suited for dynamic AI transactions. Nevermined’s platform allows for flexible pricing, adjusting in real-time based on demand.
Building a Comprehensive Ecosystem
Alongside payment processing, Nevermined is creating tools for billing, subscriptions, and comprehensive financial management tailored to the needs of the AI economy. Founder and CEO Don Gossen emphasized the importance of developing a payment model that can support the evolving landscape of AI commerce.
Industry Perspectives and Future Potential
Experts, including Constellation Research analyst Holger Mueller, recognize the transformative potential of autonomous AI agents in business transactions. He highlighted the need for innovative payment models tailored to these technologies.
Nevermined has already partnered with companies like Naptha AI and Peaq Foundation to enhance its offerings. The startup aims to play a crucial role in the AI economy, which McKinsey Global Institute predicts could contribute an additional $13 trillion to the global economy by 2030 through innovative technologies.
In conclusion, Nevermined is poised to revolutionize AI-to-AI transactions and contribute significantly to the growth of the AI economy, making it an exciting development in the landscape of digital payments.
Tags: Nevermined, AI payments, funding round, decentralized infrastructure, AI agents, blockchain technology, automated commerce, financial management.
What is Nevermined?
Nevermined is a decentralized payments startup that recently raised $4 million. The goal of the company is to make AI-to-AI commerce easier and more accessible.
How will the funding help Nevermined?
With the $4 million raised, Nevermined plans to develop its technology to support AI agents in trading and performing transactions with each other efficiently.
What is AI-to-AI commerce?
AI-to-AI commerce refers to transactions and interactions happening between artificial intelligence systems without human intervention, enabling faster and more efficient business processes.
Why is decentralized payment important?
Decentralized payment systems provide more security and privacy for users. They allow transactions to happen without going through a central authority, reducing the risk of fraud.
Who can benefit from Nevermined’s services?
Businesses and developers who want to use AI systems in their operations can benefit from Nevermined. This technology will help them streamline processes and enhance automation in their transactions.