ENSO Network Completes $4.2 Million Funding Round

ENSO, the world's first intent engine powering chain abstraction, celebrates the successful completion of the latest funding round. Fresh funds secured by Cosmos (ATOM) ecosystem innovators will fuel tech development and the release of the native L1 platform.

ENSO secures $4.2 million, Ideo Ventures, Hypersphere are onboard

According to the official statement of the ENSO Network team, its strategic funding round has been completed successfully. The protocol raised a total of $4.2 million from a clutch of reputable VC firms and heavy-hitting angel investors.

The round yielded contributions from blue-chip Web3 VCs such as Ideo Ventures and Hypersphere. Sixty plus business angels from Safe, Socket, Titan, Essential, Sygnum, TheGraph, Alchemix, Biconomy, Yearn, Squid, Liquity, Pendle, Everclear, Flashbots, Dune and more also backed the team in its fundraising efforts.

In addition, the protocol reports a number of milestones accomplished. ENSO tooling has facilitated over $11 billion in on-chain settlements within the past year, serving more than 35 projects currently in production. 

Connor Howe, CEO of ENSO, is sure that this funding will be of paramount importance to the entire multi-chain segment and the next phase of DeFi transformation:

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

This funding enhances ENSO's efforts to expand its infrastructure capabilities and support further adoption across DeFi and blockchain applications. 

ENSO builds one-stop connectivity instrument for crypto

Previously, the ENSO Network team raised funds from blue-chip VCs such as Polychain Capital and Mechanism Capital.

ENSO is the connectivity layer of crypto. Connecting all ecosystems within one network, enabling application developers and users to express their desired outcome as an intent, allowing truly composable applications to be built without the necessity of building manual integrations.

Also, it is a leading provider in the blockchain infrastructure space, enabling efficient and secure on-chain transactions for DeFi and blockchain applications.