Nevermined, a startup focused on developing payments infrastructure for AI-to-AI transactions, has successfully secured $4 million in funding.
Generative Ventures spearheaded the round, with contributions from investors such as Polymorphic Capital, Near, Halo Capital, Factor Capital, Lyrik Ventures, and Arca.
The company is working on creating the “PayPal for AI,” aimed at facilitating seamless payments between AI agents. Its protocol is specifically designed to tackle the distinct challenges posed by AI-commerce, which it believes traditional payment systems are ill-equipped to handle.
Nevermined offers AI developers a means to monetize their applications by overseeing payments, usage tracking, and credit systems—functioning as a comprehensive finance and billing management platform for AI agents and tools.
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 funding will allow us to accelerate our mission of building the financial rails for the emerging AI economy.”
Aitor Argomaniz, CTO of Nevermined, emphasized the need for a new payment infrastructure, commenting, “Current payment infrastructure was built for static transactions, like selling t-shirts online, where prices remain constant. AI agents are dynamic and require an equally dynamic payments system that can respond instantly to new requests.”
Nevermined is not alone in addressing the AI-commerce sector; AIsa has recently unveiled its own payment infrastructure designed specifically for the needs of the AI economy.