Summary:
Kite raised $18 million in a Series A led by PayPal Ventures and General Catalyst, with total funding now at $33 million.
The startup is building a blockchain for AI to enable direct communication between AI agents, enhancing trust and automation.
CEO Chi Zhang envisions a future where users can shop through ChatGPT without leaving the chatbot interface.
This investment highlights the growing interest in AI infrastructure to support the emerging 'agentic era' of specialized AI applications.
Kite's technology could revolutionize how AI agents interact, with initial use cases focused on e-commerce and seamless integrations.
Kite Secures $18 Million to Build AI Blockchain for Seamless Agent Interactions
In the bustling world of Silicon Valley, AI and crypto are the hottest trends, with startups racing to merge them since ChatGPT's debut in 2022. While results have been mixed, Kite stands out, backed by a major $18 million investment led by PayPal Ventures and General Catalyst. This Series A round, which includes participants like 8VC, Samsung Next, and Alumni Ventures, brings Kite's total funding to $33 million. The startup's CEO, Chi Zhang, has kept valuation details under wraps and hasn't specified if the raise involves equity or token warrants for a future cryptocurrency.
The Vision for Automated Shopping
Kite, formerly known as Zettablock, aims to create a blockchain that enables AI agents to communicate directly, eliminating the need for human intermediaries. Imagine a future where you can shop through ChatGPT or other chatbots without leaving the app—no more browsing Amazon or Shopify stores manually. Zhang envisions this automated world, where AI agents from different platforms interact trustworthily, facilitated by a decentralized database.
The Rise of AI Agents and Infrastructure Needs
AI agents are evolving from general-purpose models to specialized tools for tasks like coding or shopping. However, as Alan Du from PayPal Ventures notes, the infrastructure is still in its early stages. Kite is building the necessary backbone to make agents transformative, ensuring they can identify and trust each other through blockchain technology.
One of Kite's initial projects focuses on allowing users to purchase items directly via text in ChatGPT, integrating with platforms like Shopify. This innovation promises to redefine how we interact with AI, moving us into what Zhang calls the 'agentic era'.
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