Former Google and Ripple executives have raised $8.5 million for a startup called Skyfire that is building a payments network that allows AI agents to carry out autonomous transactions.
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AI agents designed to perform specific tasks, answer questions, and automate processes for users are becoming increasingly common. However, Skyfire argues that they are limited as they cannot make or receive payments without human supervision.
“AI can only really change the world when it can act freely. Agents need more than just intelligence; They need the autonomy to complete economic tasks without human intervention. This is the AI economy,” says Craig DeWitt, product lead at Skyfire.
Skyfire has built an operational layer that it says delivers key missing components for AI trading, including secure wallet access, verifiable agent identity and an open payment protocol for service requests, purchase decisions and instant transactions without human intervention.
DeWitt and CEO Amir Sarhangi worked together at Ripple. Previously, Sarhangi founded Jibe Mobile, which was acquired by Google and served as the backbone of Android Messenger.
Sarhangi says: “AI agents are a whole new customer base for businesses and a game-changing opportunity. Agentic AI commerce will surpass every payment innovation we know of, from credit cards to PayPal… We see a future where millions of AIs are deployed.” Agents process transactions globally and autonomously through Skyfire, unlocking new revenue streams and changing the way how business is conducted.”
The project is being financed by Neuberger Berman, Brevan Howard Digital, Intersection Growth Partners, DRW, Inception Capital, Arrington Capital, RedBeard Ventures, Sfermion, Circle, FBG, Gemini, Crossbeam Venture Partners, EveryRealm, Draper Associates, ARCA and Ripple.