Project Eleven completes $20 million funding to fully deploy the quantum-safe era

On a cold morning in New York, the leader in post-quantum security and migration for digital assets, Project Eleven, announced a significant funding round: completing a $20 million Series A, with a post-money valuation of $120 million.

The funding was led by Castle Island Ventures, with participation from well-known institutions such as Coinbase Ventures, Fin Capital, and others, demonstrating the market’s urgent demand for post-quantum cryptography technology.

01 Funding Overview

Project Eleven has taken an important step in the digital asset security space. The New York-based company recently completed a $20 million Series A funding round, with a post-money valuation of approximately $120 million.

This round was led by Castle Island Ventures, with participation from notable investors including Coinbase Ventures, Fin Capital, Variant, Quantonation, and others.

Compared to the $6 million seed round completed in June last year, Project Eleven’s valuation has seen significant growth in a short period. The seed round was led by Variant and Quantonation, with participation from Castle Island Ventures, Nebular, and Formation.

02 Quantum Threats and Industry Challenges

The rapid development of quantum computing is posing an unprecedented threat to global digital assets. Currently, mainstream blockchain networks like Bitcoin rely on elliptic curve cryptography, which could become vulnerable in the face of future quantum computers.

This threat covers an astonishing amount of assets—over $4 trillion in digital assets on public blockchains worldwide depend on cryptographic assumptions that could be broken by quantum computing.

The biggest challenge facing the digital asset industry is the complexity of transition. Networks like Bitcoin, due to their cautious governance mechanisms, often require several years to upgrade, and the pace of quantum computing advancement may be faster than expected.

Project Eleven’s founder and CEO, Alex Pruden, candidly stated: “As quantum capabilities advance, the risk has become too high to ignore. We cannot overlook the survival risk this poses to the digital asset ecosystem.”

03 Core Solutions and Industry Collaboration

The toolkit Project Eleven is building aims to help blockchain networks and financial institutions execute complex, multi-year migrations. These tools include readiness assessments, migration testing environments, and deployment sequencing.

The company has already partnered with the Solana Foundation and other leading protocols and Layer 1 ecosystems to jointly develop post-quantum readiness planning and technology.

Nic Carter, General Partner at Castle Island Ventures, commented: “Practical quantum computing represents the largest and most complex threat that public blockchains have ever faced. Project Eleven is building a practical bridge from research to deployment.”

This startup plans to launch its next major product in early 2026, adding more features for institutions, protocols, and end-users seeking long-term security for cryptographic systems.

04 Investment Team

The investors in this Series A round demonstrate a fusion of traditional venture capital and crypto industry capital.

05 Market Impact and Future Outlook

Post-quantum cryptography is rapidly becoming a key focus for governments and industry planning. The success of Project Eleven’s funding reflects the increasing market concern for the long-term security of digital asset infrastructure.

For the entire crypto industry, transitioning to quantum-resistant cryptography is not only a technical challenge but also a systemic security upgrade. The success or failure of this transition will directly impact the long-term safety of trillions of dollars in digital assets.

Alex Pruden emphasized the importance of early preparation: “We focus on making this transition feasible so that the industry can migrate in a planned manner rather than react under pressure.”

As quantum computing technology continues to advance, companies like Project Eleven, dedicated to post-quantum security, may play an increasingly vital role in safeguarding the future of digital assets. The widespread adoption of their technological solutions is expected to provide future-proof security for the entire blockchain ecosystem.

Future Outlook

The consensus in the industry is that quantum computing will reshape the entire digital security landscape. The $20 million funding raised by Project Eleven is a substantive move by capital markets to counter quantum threats.

The security of over $4 trillion in digital assets cannot be addressed with a single upgrade. From Bitcoin to Solana, mainstream blockchain networks are quietly initiating migration plans, with top investment firms like Castle Island Ventures and Coinbase Ventures already betting on the defense front.

As quantum computing shifts from a theoretical threat to a real challenge, every investment in post-quantum cryptography today could determine the future security boundaries of the digital asset world.