@renardsaucedoeoz
Essential, an "intent-centric" Ethereum
ETH -0.48%
Layer 2 blockchain developer, has raised $11 million in a Series A funding round led by Archetype.
Other investors included IOSG Ventures, the Spartan Group, Mirana Ventures, Amber Group, Maven 11 and Big Brain Holdings, Essential said Tuesday. Undisclosed angel investors from Celestia, Hashflow, LI.FI, Sorella and other firms also participated in the round.
Essential began raising funds for the Series A round earlier this year and closed it in June, co-founder and CEO Liesl Eichholz told The Block. The round was structured as equity with token warrants, Eichholz said, declining to comment on the valuation.
The Series A round brings Essential's total funding to $16.15 million, having raised $5.15 million in seed funding last September.
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