According to Foresight News, the intent-focused development project Essential has completed a $5.15 million seed funding round led by Maven11. Other participants in the funding round included Robot Ventures, Karatage, Batuhan Dasgin, Skip, James Prestwich, Brandon Curtis, and Eclipse founder Neel Somani. The new funds will be used to build intent-based infrastructure.

In a previous report by Foresight News, Essential launched the ERC-7739 draft, proposing a standard specification for general intent in smart contract wallets.