Essential raises $5.15 million to build intent-based infrastructure

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By BitcoinWiki News

Key Takeaways:

– Essential, a startup focused on building intent-based infrastructure, raised $5.15 million in seed funding.
– Maven 11 led the round, with participation from Robot Ventures, Karatage, Batuhan Dasgin, Skip, James Prestwich, Brandon Curtis, Neel Somani, and others.
– Essential aims to rewire transaction supply chains in crypto to minimize value extraction by rent-seeking intermediaries.
– The company is focused on building intent-based infrastructure, which brings user experience and efficiency gains to blockchains.
– The intent-based system allows users to describe a desired end state rather than following a set of instructions from a single app.
– Essential’s core infrastructure includes an intent standard for Ethereum, a domain-specific language for intent expression, and a fully intent-centric blockchain protocol.
– The startup has made progress in designing an ERC to bring composability to intent-centric products on Ethereum.
– The seed round valuation was not disclosed.


Essential, a startup focused on building intent-based infrastructure for blockchain transactions, has raised $5.15 million in seed funding. The funding round was led by Maven 11, with participation from Robot Ventures, Karatage, Batuhan Dasgin, Skip, James Prestwich, Brandon Curtis, Eclipse founder Neel Somani, and others. Essential aims to rewire transaction supply chains in crypto to minimize the involvement of intermediaries and benefit users. Their intent-based infrastructure allows users to express their desired end state, rather than following a set of instructions, and provides various on-chain solutions. Essential is currently building an intent standard for Ethereum, a domain-specific language for intent expression, and a fully intent-centric blockchain protocol. They have also proposed an ERC to bring composability to intent-centric products on Ethereum.

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