Kite, an AI company, has successfully raised $18 million in Series A funding, increasing its total funding to $33 million. The funding round, co-led by General Catalyst and PayPal Ventures, aims to enhance Kite's platform that facilitates transactions by autonomous agents using stablecoins. Kite's flagship product, Kite AIR, enables these agents to authenticate, transact, and interact efficiently. The company is particularly focusing on micro-subscriptions and agent-to-agent billing. With integrations with platforms like Shopify and PayPal, merchants can become accessible to AI shopping agents, streamlining the purchase process. The use of stablecoins is poised to allow rapid transaction settlements and lower fees, helping to unlock new economic models. Kite plans to broaden its integrations in commerce and finance, aspiring to become the primary stablecoin payment layer for autonomous agents.

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