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4w ago

PayPal Ventures, General Catalyst Lead $18 Million Series A for Kite as It Launches Agentic AI Payments Platform

The startup introduced Kite AIR to equip AI agents with verifiable identities for on-chain stablecoin transactions.

Kite cofouders Scott Shi (left) and Chi Zhang.
Kite raises $18m to bridge stablecoin payments and autonomous agents
AI agents, search engines, web browsers
Kite raises $18m series a to build agentic web infrastructure with stablecoin payments

Overview

  • Kite, formerly Zettablock, closed a $18 million round co-led by PayPal Ventures and General Catalyst, bringing total disclosed funding to $33 million.
  • The company unveiled Kite AIR, combining an Agent Passport for verifiable identity and guardrails with an Agent App Store for agents to discover and pay for services.
  • Integrations with PayPal and Shopify allow merchants to opt in to be discoverable by AI shopping agents, with purchases settling on-chain in stablecoins for lower fees and traceability.
  • Participants in the financing included 8VC, Samsung Next and Alumni Ventures, according to company disclosures.
  • CEO Chi Zhang declined to share the company’s valuation or whether token warrants were part of the raise, as Kite plans further integrations while observers flag governance and regulatory risks around agentic microtransactions.