Jan 10, 05:00 PM

Nevermined Secures $4.4M Led by Generative Ventures for AI Agent Payments Using Web3 Technologies

Nevermined, a Swiss startup focused on decentralized payments for AI-to-AI transactions, has raised $4.4 million in a seed funding round led by Generative Ventures. The funding will be used to develop its infrastructure aimed at enabling AI agents to engage in automated commerce. The round also saw participation from investors such as Polymorphic Capital, Near Protocol, Halo Capital, Factor Capital, Lyrik Ventures, and Arca, along with several angel investors. Nevermined aims to become the 'PayPal for AI,' facilitating payments between AI agents and providing tools for managing payments, tracking usage, and creating credit systems for users. The company, led by founder and CEO Don Gossen and CTO Aitor Argomaniz, is leveraging Web3 technologies like blockchain, cryptocurrencies, and smart contracts to address the needs of autonomous AI agents, which require dynamic pricing models and instant response capabilities. Nevermined has established partnerships with AI firms such as Naptha AI, Peaq Foundation, and Combinder to further its mission.