Nevermined Raises $4M to Build the PayPal for AI-Commerce
January 09 2025 - 12:00PM
Nevermined, the leading provider of AI payment infrastructure for
AI-to-AI transactions, today announced it has raised over $4
million in funding to accelerate the adoption of AI-Commerce by
enabling AI agents to pay and get paid. The round was led by
Generative Ventures, with participation from Polymorphic Capital,
NEAR, Halo Capital, Factor Capital, Lyrik Ventures and Arca. In
addition, the round includes investment from notable AI luminaries,
namely David Minarsch and Oak from Valory, the builders of Olas,
Richard Blythman and Mark Schmidt from Naptha, and Ben Fielding
from Gensyn.
Nevermined is developing the "PayPal for AI" to
enable seamless payments between AI agents, actively driving the
transformation of all commercial landscape. The company's protocol
is designed to address the unique challenges of AI-Commerce, where
traditional rigid payment systems fall short. Nevermined helps AI
developers monetize their applications by managing payments, usage
tracking, and credit systems - essentially acting as a finance and
billing management platform for AI agents and tools.
"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," said Don Gossen, CEO of Nevermined. "This funding
will allow us to accelerate our mission of building the financial
rails for the emerging AI economy."
Founded by Don Gossen and Aitor Argomaniz, who
previously built Ocean Protocol, Nevermined combines deep expertise
in machine learning, AI, data, and Web3 to solve the complex
challenges of AI-Commerce. The company has already secured
partnerships with key industry players including Olas, Naptha,
peaq, FLock, and Combinder.
"Current payment infrastructure was built for
static transactions, like selling t-shirts on the internet, where
the price of a small shirt doesn’t change over time," noted Aitor
Argomaniz, CTO of Nevermined. "AI agents are dynamic and require an
equally dynamic payments system that can respond instantly to new
requests. We've built the foundation already, and now we want to
grow user adoption from both AI builders and AI agents."
The investment comes at a crucial time as McKinsey
Global Institute predicts AI technologies could deliver
additional economic output of $13 trillion by 2030. Nevermined aims
to unlock this potential by enabling efficient monetization through
variable pricing models and ensuring easy transactions between AI
agents.
The funding will be used to accelerate the
go-to-market strategy, expand the team, and strengthen partnerships
within the AI ecosystem. Nevermined is focused on building the
essential financial infrastructure that will power the future
economy of trillions of AI agents and scale AI-Commerce.
For more information about Nevermined,
visit https://nevermined.io/
About Nevermined
Nevermined is the leading provider of AI
payment infrastructure for AI-to-AI transactions, enabling the rise
of a new era of AI-Commerce. Founded by ex Co-Founder and VP of
Engineering at Ocean Protocol, Don Gossen (CEO) and Aitor Argomaniz
(CTO), Nevermined allows AI agents to discover, negotiate, and
compensate each other in real-time, powering an economy of
trillions of AI agents. By providing the essential payment rails
and infrastructure for direct AI transactions, Nevermined is
positioning itself as the leader in the emerging AI-Commerce space.
Check out Nevermined here: https://nevermined.io
Disclaimer: The information provided in this press release is
not a solicitation for investment, nor is it intended as investment
advice, financial advice, or trading advice. It is strongly
recommended you practice due diligence, including consultation with
a professional financial advisor, before investing in or trading
cryptocurrency and securities.
Don Gossen
Co-Founder
Nevermined
victoria (at) victoriouspr.com