PayPal Invests in Kite AI’s AI Agent Infrastructure

Kite AI, a provider of decentralized AI infrastructure, has secured $18 million in its Series A funding round led by PayPal Ventures. This funding brings the company’s total investment to $33 million. The round was joined by prominent investors such as 8VC, Samsung Next, SBI US Gateway Fund, Vertex Ventures, Hashed, HashKey Capital, Avalanche Foundation, LayerZero, Animoca Brands, and more. Kite’s Series A funding will be directed towards expanding its AI-powered infrastructure. The company aims to develop AI agents—autonomous software programs capable of decision-making and actions without constant human input—as a user interface for the Web3 ecosystem.