PayPal's "favorite child" @GoKiteAI is here
Recently, Fortune reported that Kite AI completed a financing round totaling $33 million, with the latest round being $18 million, led by
Led by @PayPal Ventures and @generalcatalyst.
In recent years, payment giants have been relatively cautious in their attempts in the direction of cryptocurrency and blockchain. Compared to @stripe and @circle building their own infrastructure, PayPal has remained restrained. However, this time, it has chosen Kite AI as its sole target in the emerging area of AI + payments. In other words, Kite is to some extent @PayPal's "favorite child."
Another lead investor, General Catalyst, is one of the top VC firms globally, managing $33 billion and having invested in well-known companies such as Airbnb, Stripe, and Canva. It is also the largest external shareholder of Circle. Time Magazine ranked it as the second largest venture capital firm in the U.S. in 2025, second only to Sequoia. GC has invested in Kite for two consecutive rounds, from seed to Series A, indicating their strong confidence in Kite.
In addition, Alumni Ventures "@alumniventures", 8 VC "@8VC" (one of the top 20 VCs in Silicon Valley), Japan's SBI (a long-time friend of Samsung and Ripple), @SamsungNext, and @hashed_official (leading VC in South Korea), Kite's investment lineup essentially covers the core funding and resource networks of the US, Japan, and South Korea. For a startup, such a financing background is almost a "top configuration".
After discussing financing, let's take a look at the product. The Kite AIR launched by Kite is positioned as the core infrastructure for AI Agents, covering identity, payment, and governance.
As a flagship product, Kite has already integrated with PayPal and Shopify. Merchants can be discovered by AI Agents simply by accessing Kite's Agent App Store, with the entire transaction settled on-chain.
This means that the AI Agent is truly beginning to attempt to participate as an economic entity in human economic activities. Seeing this, I believe you can already get Kite's vision: to establish the "Agentic Internet"—a network that allows AI Agents to interoperate, possess identity, and have payment capabilities.
On the other hand, the Kite team is also very strong:
CEO Chi Zhang @ChiZhangData is an AI PhD from Berkeley, focusing on explainable machine learning, and previously worked on products at Databricks.
CTO Scott Shi @scottshics was the former head of Salesforce Einstein and has also built security analytics systems at Uber.
Team members also come from institutions such as MIT, Oxford, Alibaba, McKinsey, and others.
The team members include both those who understand scientific research and those who know how to implement large-scale systems, making the lineup truly impressive.
In the narrative of "AI x Payment," which is considered the sexiest, Kite AI has already positioned itself in a very special place:
It has the support of top-tier funds, direct business access like PayPal and Shopify, and a team with technology that can truly be implemented.
A team with such a background is rare, especially in the payment track. An FDV valuation of over 1 billion isn't too much, right?
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