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ENSO secures $4.2 million in funding to launch intent-centric blockchain

Investing.com
·2-min read

Blockchain infrastructure provider, ENSO, has closed a $4.2 million funding round led by a clutch of reputable crypto VC funds.

The fresh capital injection will be used to develop ENSO’s platform, expand its community and go toward the launch of its L1 Cosmos-based blockchain scheduled later this year.

The funding round saw participation from Ideo Ventures, Hypersphere, and over 60 angel investors from organizations like Safe, Socket, Titan, Essential, Sygnum, TheGraph, Alchemix, Biconomy, Yearn, Squid, Liquity, Pendle, Everclear, Flashbots, and Dune.

ENSO, which describes itself as the connectivity layer of crypto, highlights that its platform handled over $11 billion in on-chain settlements in 2023, serving more than 35 projects currently in production. The company plans to expand its infrastructure capabilities and support further adoption across decentralized finance (DeFi) and blockchain applications.

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"We're thrilled to have the support of Ideo Ventures, Hypersphere, and an exceptional group of angels as we embark on our next phase of growth," said Connor Howe of ENSO.

"This funding validates our vision to transform blockchain interactions and underscores the confidence in our technology from both institutional backers and the angels involved."

With Enso, developers can interact with a single source that abstracts all the complexities of dealing with smart contracts. This is achieved through a shared network state that stores and manages all smart contract interactions across blockchains, rollups, and rollapps for execution.

Before using Enso, the company claims that developers had to manually integrate blockchain frameworks, write smart contracts to interact with other smart contracts, understand each smart contract's nuances, and build customized infrastructure to maintain these integrations.

This process was time-consuming, error-prone, and required a deep understanding of the underlying blockchain framework where the smart contracts were deployed.

By turning user requests into intents and mapping every smart contract interaction along with their relationships to other smart contracts, Enso inherently connects all of crypto into one unified platform, making it easily accessible for users and developers.

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