Nevermined secures $4m to revolutionise AI-Commerce with AI payment protocol

January 10, 2025

Nevermined, a company specialising in AI payment infrastructure for AI-to-AI transactions, has raised $4m in funding to accelerate the adoption of its AI-Commerce payment protocol.

The funding round was led by Generative Ventures, with contributions from Polymorphic Capital, NEAR, Halo Capital, Factor Capital, Lyrik Ventures, and Arca.

The round also saw participation from notable AI experts, including David Minarsch and Oak from Valory, Richard Blythman and Mark Schmidt from Naptha, and Ben Fielding from Gensyn.

Dubbed the “PayPal for AI,” Nevermined’s platform is designed to enable seamless payments between AI agents, addressing the unique challenges of AI-Commerce where traditional payment systems fall short. The platform helps AI developers monetise their tools by managing payments, tracking usage, and offering credit systems, serving as a comprehensive finance and billing management solution for AI tools and agents.

The new funding will be used to accelerate Nevermined’s go-to-market strategy, expand its team, and strengthen partnerships within the AI ecosystem. The company aims to build the foundational financial infrastructure that will support the growing AI-Commerce landscape.

Founded by Don Gossen and Aitor Argomaniz, both formerly of Ocean Protocol, Nevermined leverages expertise in AI, machine learning, data, and Web3 technologies to overcome the complexities of AI-to-AI transactions. The company has already established partnerships with industry players such as Olas, Naptha, peaq, FLock, and Combinder.

Don Gossen, Nevermined CEO, said, “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.”

Co-founder and CTO Aitor Argomaniz added, “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.

“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.”