Kite, an AI blockchain startup, secured an $18 million Series A funding round. PayPal Ventures and General Catalyst led this investment. The company develops a blockchain platform for AI application communication.
The funding supports Kite's mission to build infrastructure for AI agents. These agents require a shared, trusted database for interaction. Kite's AI blockchain provides this decentralized solution.
Kite's platform facilitates communication between various AI applications. For instance, users could direct ChatGPT to find and purchase items. This process would occur directly from a store using Shopify.
Advancing AI Agent Interoperability
This investment follows growing interest in AI agents. Large language models like OpenAI's GPTs and Google Gemini are general purpose. Companies such as Cursor develop specialized AI agents for specific tasks. Kite's AI blockchain aims to connect these diverse systems.
Kite has now raised $33 million in total capital. This includes a previously undisclosed seed round.
