Skyfire Systems, the innovator behind the first payment network for AI agents, has recently announced a substantial funding round.
This platform enables transactions without human intervention, integrating secure wallet access and verifiable agent identities, tailored for a burgeoning AI market.
The company has successfully raised $8.5m in a round led by prominent investors including Neuberger Berman, Brevan Howard Digital, and Intersection Growth Partners, among others. This funding round also saw participation from tech-focused venture firms like DRW, Inception Capital, and Arrington Capital, along with industry giants such as Ripple and Gemini.
Skyfire’s platform is the first of its kind, designed to facilitate fully autonomous transactions across various AI agents, large language models (LLMs), data platforms, and service providers. By offering an open payment protocol, Skyfire aims to eliminate the need for traditional payment methods such as credit cards, fostering a direct economy between AI agents and services.
The capital infusion will be utilized to enhance the platform’s capabilities, including the expansion of its payment protocol and the integration of more advanced features such as automated budgets and control systems. These innovations are intended to provide AI agents with the autonomy to execute transactions within set financial limits, promoting a secure and efficient economic environment.
Additional aspects of Skyfire’s development include the establishment of verification services to ensure the reliability of transactions and the creation of funding on-ramps that facilitate the use of stablecoins for instant AI transactions.
Skyfire CEO Amir Sarhangi highlighted the transformative potential of the platform, stating, “AI Agents are a brand new customer base for businesses and a game-changing opportunity. Agentic AI commerce will surpass every payment innovation we’ve known, from credit cards to PayPal. Our research indicates the market size of Agent to Agent commerce alone can reach $46bn over the next three years.”
Previously, both Sarhangi and co-founder Craig DeWitt leveraged their experiences at Ripple to lay the foundational technology for instant payments, which has significantly influenced the development of Skyfire’s innovative payment solutions.
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