PayPal Ventures-Backed Startup Kite Raises $18M Series A to Build the 'Agentic Internet
The future of AI just got a major upgrade. Kite, a pioneering AI-blockchain startup, has raised $18 million in Series A funding to build the infrastructure for the “agentic internet”—a decentralized network where AI agents can authenticate, transact, and collaborate autonomously.
Building the Agentic Internet: AI Meets Blockchain
Kite is redefining how AI agents operate online.
- Vision: Create an "agentic internet" where AI agents are independent, verifiable, and interoperable
- Core Innovation:
- Blockchain-Based Identity: Each AI agent gets a tamper-proof digital identity on-chain
- Autonomous Transactions: Agents can send payments, sign contracts, and trade data without human intervention
- Cross-Platform Collaboration: Agents from different systems (e.g., ChatGPT, Gemini, custom bots) can interact securely
Co-founder Chi Zhang explains:
“We’re building the infrastructure for AI agents to have agency—own assets, make decisions, and collaborate—just like humans do online.”
Funding and Strategic Backing
Kite’s $18M Series A signals strong institutional confidence.
- Lead Investors:
- PayPal Ventures — strategic alignment with digital payments and identity
- General Catalyst — deep tech and AI expertise
- Additional Participants:
- 8VC, Samsung Next, Alumni Ventures
- Total Funding: $33 million
PayPal’s involvement is particularly significant, suggesting potential integration with digital wallets, stablecoins, and cross-border payments—key use cases for autonomous agents.
Ozone Testnet Live: Onboarding the First Agents
Kite’s Ozone testnet is now open to the public.
- Key Features:
- Token Staking: Users can stake Kite’s native token to secure the network
- XP Earnings: Early adopters earn experience points for engagement
- Agent Sandbox: Developers can deploy and test AI agents in a secure environment
This phase is critical for bootstrapping network effects and preparing for mainnet launch.
Why This Matters: The Next Evolution of the Internet
Kite is tackling one of AI’s biggest challenges: trust and identity.
| Problem | Kite’s Solution |
|---|---|
| AI agents lack identity | Blockchain-based verifiable credentials |
| No secure way to pay agents | Native crypto payments and micropayments |
| Siloed AI ecosystems | Cross-agent communication protocol |
| Risk of fraud and impersonation | On-chain reputation and staking |
This could enable use cases like:
- An AI travel agent booking flights and paying with stablecoins
- A personal finance bot negotiating lower bills autonomously
- AI developers earning revenue from their agents’ services
Final Takeaway: The Age of Autonomous Agents Is Beginning
- ✅ $18M Series A closed — strong investor lineup
- ✅ Ozone testnet live — real user engagement underway
- ✅ PayPal Ventures backing — hints at future fintech integration
Kite isn’t just building another blockchain project.
It’s laying the foundation for a new internet, where AI agents are full participants—with identity, ownership, and economic agency.
And with $33 million in funding and a live testnet,
the agentic internet is no longer science fiction.
It’s under construction.
