Skyfire Launches Platform Allowing Autonomous AI Agents to Manage Your Spending Effortlessly

San Francisco startup Skyfire is launching today in beta with $8.5 million in seed funding, aiming to be the "Visa for AI." The company enables autonomous AI agents from various developers to manage and spend funds on behalf of users.

“We’re empowering AI agents to autonomously make and receive payments and hold balances,” said co-founder and CEO Amir Sarhangi during a recent media interview. “Think of us as FinTech infrastructure for AI.”

Backed by investors like Neuberger Berman and Brevan Howard Digital, Skyfire is targeting a burgeoning need for AI agents to transact independently.

Why Trust AI Agents with Your Funds?

Skyfire’s technology is designed to create a secure financial ecosystem where AI agents can operate as independent economic participants, equipped for tasks like shopping, booking flights, and developing applications.

Sarhangi explained, “AI agents lack identities and bank accounts, limiting their ability to perform advanced tasks." Skyfire solves this issue by providing a new payment system that allows users to allocate funds for their AI agents to spend.

What Skyfire Offers

Skyfire presents a pioneering payment network supporting autonomous transactions for AI agents, large language models (LLMs), and various data platforms. This innovation paves the way for a global economy where AI agents can interact economically without human input.

Key features include:

- Open Global Payments Protocol: Enables seamless access to LLMs and API services, eliminating the need for traditional payment methods.

- Automated Budgets and Control: Users can set spending limits for AI agents, ensuring conformity to predefined business parameters.

- AgentID & History Verification: Provides secure authentication for AI agents while maintaining a transaction history for trust and verification.

- Verification Service: Enhances security by granting visibility over network connections to ensure trustworthy autonomous transactions.

- Funding On-Ramps: Supports funding through traditional banks and stablecoins for instant transactions.

Skyfire initially targets AI providers and agent developers as a B2B software supplier, enabling seamless payment integration into their AI products.

“As there are over 160 LLMs available today, our protocol allows developers to use any of them effortlessly,” Sarhangi noted.

Craig DeWitt, co-founder and Head of Product, further emphasized the importance of enabling autonomous transactions for AI agents. “AI cannot genuinely revolutionize the world until it can transact freely,” he stated.

Skyfire will capture a transaction fee and offer additional software services on a subscription basis.

Security Through Simplicity and Verification

Concerns about security in letting AI agents manage funds are valid, but Skyfire assures that its system is as secure as online transactions. Registration requires only an email, allowing users to fund their accounts without sensitive information like social security numbers.

Developers can link existing payment methods, equipping AI agents with funds while maintaining spending limits. Verification services are also available for users seeking additional security.

Experienced Leadership

Skyfire’s leadership team, including CEO Amir Sarhangi and Head of Product Craig DeWitt, boasts substantial experience in payments and technology. Sarhangi’s background includes a VP role at Ripple, while DeWitt was an early developer there, contributing to foundational payments technology.

Skyfire is now open to AI developers, LLMs, and API providers wishing to integrate its platform via the company’s website, skyfire.xyz. With robust investor support and an innovative approach to AI commerce, Skyfire is set to transform the economic landscape for AI agents and the wider AI ecosystem.

Correction: This article has been updated to accurately reflect Sarhangi’s role at Ripple. We apologize for the error.