Swiss startup Nevermined SÀRL has successfully raised $4 million to enhance its decentralized payment system designed for AI agents. This funding, led by Generative Ventures with contributions from several investors, aims to facilitate automated commerce between AI systems. Nevermined aspires to become the “PayPal for AI,” providing tools for AI developers to manage payments and usage tracking. The company is leveraging Web3 technologies such as blockchain to overcome the limitations of traditional payment systems. As the demand for AI agent transactions grows, Nevermined plans to create a comprehensive financial platform that addresses the unique needs of this emerging Market, aiming to revolutionize how businesses transact in the future.
Swiss AI Payments Startup Nevermined Raises $4 Million to Revolutionize AI Transactions
Swiss startup Nevermined SÀRL has announced a successful $4 million funding round aimed at transforming the landscape of AI transactions. This funding, led by Generative Ventures and supported by other investors such as Polymorphic Capital and Near Protocol, will help accelerate the development of a decentralized payments infrastructure for automated AI-to-AI commerce.
Nevermined aims to position itself as the “PayPal for AI.” The company is creating a specialized payment system that allows AI agents to conduct financial transactions autonomously. This initiative will provide AI developers with the tools needed to profit from their creations while managing payments and tracking usage efficiently.
Understanding the Future of AI Commerce
AI agents, the next step in artificial intelligence evolution, can perform complex tasks without human input. Unlike traditional models such as ChatGPT, AI agents are expected to significantly change how businesses operate. As this new technology takes shape, Nevermined plans to leverage blockchain and smart contracts to address the challenges posed by conventional payment methods.
Aitor Argomaniz, Nevermined’s Chief Technology Officer, explained that current payment systems are not designed for dynamic AI interactions. Instead, they were created for static transactions. Nevermined’s platform will enable real-time responses to user demands, paving the way for innovative pricing models.
Building an AI-Centric Financial Ecosystem
In addition to enabling payments, Nevermined is developing a comprehensive suite of financial management tools aimed at billing, subscriptions, and more. Founder Don Gossen emphasized the importance of this infrastructure, predicting that most commerce will soon involve AI-to-AI transactions.
Market analysts recognize the potential impact of Nevermined’s developments. Holger Mueller of Constellation Research noted that the shift towards autonomous AI agents will demand new payment models and frameworks. He expressed support for Nevermined’s ambitious goals in an industry typically resistant to transformation.
Potential for AI Payments Worldwide
The startup has already forged partnerships with various AI firms, enhancing its platform’s capabilities. Notably, collaborations include organizations focused on AI-powered infrastructure and smart energy solutions.
With predictions from the McKinsey Global Institute estimating an addition of $13 trillion to the global economy from AI technologies by 2030, Nevermined is well-positioned to play a vital role in this emerging Market. By establishing a dedicated payment infrastructure for AI agents, Nevermined expects to unlock significant economic potential in the near future.
Tags: Nevermined, AI payments, blockchain, funding, Generative Ventures, AI commerce, Swiss startup, financial technology.
What is Nevermined?
Nevermined is a startup focused on decentralized payments and artificial intelligence. They aim to create a platform where AI agents can buy and sell services from each other in a secure and efficient way.
How much did Nevermined raise?
Nevermined recently raised $4 million in funding. This money will help them develop their platform further and improve how AI agents interact in a marketplace.
What is AI-to-AI agent commerce?
AI-to-AI agent commerce is when artificial intelligence systems communicate and make transactions with each other. Nevermined wants to make this process easier and more trustworthy through decentralized payments.
Why is decentralization important?
Decentralization means that no single entity controls the payment process. This can lead to more security, lower fees, and greater innovation, making it a better choice for AI transactions.
What will the funding be used for?
The $4 million will be used to enhance Nevermined’s technology, expand their team, and grow their platform. The goal is to make it easier for AI agents to buy and sell services autonomously.