Nevermined, a frontrunner in the development of payment infrastructure for artificial intelligence (AI), has secured over $4 million in new funding to advance its innovative system intended for seamless transactions between AI agents. This investment aims to tackle the limitations of conventional payment frameworks within the burgeoning AI-Commerce sector.

The funding round was led by Generative Ventures, with additional contributions from an array of stakeholders including Polymorphic Capital, NEAR, Halo Capital, Factor Capital, Lyrik Ventures, and Arca. Notable investments also came from leading figures in the AI sector, such as David Minarsch and the creators of Olas from Valory, Richard Blythman and Mark Schmidt from Naptha, and Ben Fielding from Gensyn.

The fresh capital will significantly boost development of Nevermined’s AI agent platform, which is vital for the emerging AI economy. This platform not only facilitates the monetisation of applications by AI developers but also manages payments, tracks usage, and oversees credit systems, functioning as a comprehensive financial and billing management solution for AI tools. More importantly, it equips AI agents with the necessary financial infrastructure to engage in real-time discovery, negotiation, and transactions.

Don Gossen, CEO of Nevermined, highlighted the changing landscape of commerce, stating, “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.” The company is positioning itself to support an economy potentially driven by trillions of AI agents in the coming years.

Aitor Argomaniz, CTO of Nevermined, elaborated on the limitations of existing payment systems designed for fixed transactions, where prices remain static. In contrast, AI agents operate on fluctuating demands, necessitating a payment solution capable of rapid adaptation. The company is currently focused on promoting its platform among both AI developers and agents to catalyse widespread adoption.

To further its mission in the AI-driven economy, Nevermined has formed partnerships with key players in the industry, such as Olas, Naptha, peaq, Flock, and Combinder. The latest infusion of funds will enable the firm to strengthen its strategic collaborations, expand its workforce, and develop a robust go-to-market strategy.

According to projections by the McKinsey Global Institute, AI is expected to contribute an astounding $13 trillion to the global economy by 2030. Nevermined’s advancing technology is thereby positioned to facilitate effective monetisation and fluid transactions within this rapidly evolving ecosystem.

Source: Noah Wire Services