According to BlockBeats, on August 13, the intent-based crypto infrastructure company Essential completed an $11 million Series A funding round. The round was led by Archetype, with participation from IOSG, Spartan, Mirana, Amber Group, Maven 11, Bodhi Ventures, Big Brain Holdings, Heartcore Capital, Selini, DCLM, and PropellerHeads. Additionally, founders and angel investors from companies such as Celestia, Hashflow, Enso, Barter, LI.FI, Astaria, GlueX, Bebop, and Sorella also contributed to the funding.

The funds raised in this round will be used to advance Essential's goal of redesigning blockchain interactions from first principles using a declarative, intent-based architecture. This approach aims to make blockchain technology more intuitive and accessible for developers and users worldwide.

Furthermore, Essential has introduced Pint, a constraint-based programmable intent language for developing declarative blockchain applications. Pint allows developers to directly constrain the state on the Essential blockchain. Key components released include the Pint language, a Pre-Alpha Devnet, and developer documentation.