Circuit & Chisel, an innovative company developing an agentic commerce platform, has raised $19.2 million in seed funding. This substantial investment will be used to launch their groundbreaking creation, ATXP, a new web-wide protocol. This funding round saw significant participation from leading investors, with Primary Venture Partners and ParaFi Capital co-leading the investment. Additional support came from prominent names in the tech and blockchain industries, including Stripe, Coinbase Ventures, Solana Ventures, Samsung Next, and Polygon Labs. A select group of influential angel investors also contributed to the round, including Solana co-founders Anatoly Yakovenko and Raj Gokal, Edith Cooper, a board director for both Amazon and PepsiCo, Rich Widmann, who is the Global Head of Strategy for Web3 at Google Cloud, Michael Tannenbaum, the CEO of Figure, and Arjun Sethi, Co-CEO at Kraken.
The foundation of Circuit & Chisel was laid by CEO Louis Amira, formerly Stripe’s Head of Crypto & AI Partnerships, and CTO David Noel-Romas, who previously served as Stripe’s Head of Crypto Engineering. Together, they are focused on building the fundamental technologies necessary to facilitate agentic payments and seamless movement across the internet.
These technologies are being designed to be compatible with emerging standards, such as x402. ATXP, representing the company’s initial product release, is intended to serve as a global protocol, enabling AI agents to operate independently and securely across the vast internet landscape. This functionality is envisioned to be as fundamental to agentic commerce as the Hypertext Transfer Protocol, or HTTP, is to modern web browsing, acting as an invisible yet essential backbone.
The vision behind ATXP is to empower artificial intelligence agents to autonomously manage the entire commerce process, from initial product discovery to final payment, all without requiring human intervention. And the introduction of ATXP is poised to establish Circuit & Chisel as the primary orchestrator of an entirely new category of commerce.
In this envisioned future, transactions will be initiated, negotiated, and completed solely by intelligent agents. This transformative approach promises to significantly streamline existing workflows, allowing businesses to operate with unprecedented speed and efficiency. It is expected to catalyze the emergence of a new generation of autonomous agents capable of generating revenue independently.
KEY QUOTES:
“At Cloudflare, we’re committed to building an open Internet, and that’s more important than ever as AI and agents take off. ATXP could be an important protocol to help ensure agent-initiated commerce is able to succeed in a secure and trusted way. As an early supporter of MCP and agentic AI, we support new protocols and innovation helping to further the agentic web.”
Matthew Prince, Co-founder and CEO of Cloudflare
“We are on the cusp of a huge change in how the internet works. We expect so much from AI agents in the coming years, but we don’t yet have the most fundamental technologies that will allow them to flourish within safe, agreed-upon constraints and protocols. We’re excited to connect some of the most important technology companies in the world to create those vital building blocks.”
Louis Amira, co-founder and CEO of Circuit & Chisel
“AI agents are increasingly navigating the web and transacting on our behalf and that requires an entirely new monetization infrastructure. ATXP, enables instant, nested, delegated, and extremely low cost micropayments between AI agents, something that traditional payments rails can’t support.”
Emily Man, Partner at Primary Venture Partners
“Circuit & Chisel is building the core infrastructure for autonomous agent transactions, connecting agentic commerce, stablecoins, and payments into one protocol. This technology has the potential to expand agent capabilities entirely and fuel the next wave of growth in the digital economy.”
Ben Forman, Founder and Managing Partner at ParaFi Capital
