Intent-based encryption infrastructure company Essential completes $5.15 million seed round financing, led by Maven11

ChainCatcher news, reported by The Block, that intent-focused crypto infrastructure company Essential has completed a $5.15 million seed round financing, led by Maven11, with participation from Robot Ventures, Karatage, Batuhan Dasgin, Skip, James Prestwich, Brandon Curtis, and Eclipse founder Neel Somani.

It is reported that Essential aims to reshape the cryptocurrency trading supply chain to reduce the value extraction of what it describes as "rent-seeking intermediaries," thereby benefiting users.