Post-Quantum Crypto Startup Project Eleven Secures $20M
Post-quantum crypto startup Project Eleven raises $20 million in funding round
Project Eleven, a crypto startup building tools to help blockchains like Bitcoin prepare for post-quantum security, has raised $20 million in a Series A funding round at a $120 million post-money valuation.
The company said the round was led by Castle Island Ventures, with participation from Coinbase Ventures.
The funding highlights growing attention inside the crypto industry to “post-quantum” security: the idea that advances in quantum computing could eventually challenge some of the cryptography used to secure blockchain networks. While quantum threats are widely discussed as a long-term issue, companies like Project Eleven are focused on building tools intended to help major chains plan for that transition.
For networks such as Bitcoin, which rely on established cryptographic assumptions, preparing for potential future changes can involve research, tooling, and upgrade paths that maintain compatibility and security. Project Eleven’s stated focus is to support that kind of preparation.
The Series A round and valuation indicate that investors are willing to back specialized infrastructure efforts aimed at strengthening blockchain security standards over time.
