Post-quantum crypto startup Project Eleven raises $20 million in funding round

A former U.S. entrepreneur founded Project Eleven, a startup that was founded by he/she is based on the idea of and founder in its own right? s S The statement, which was commissioned by Special Forces officer to help blockchain companies prepare for a post-quantum world’ said it raised $20 million Series A funding round led by Castle Island Venture with participation from Coinbase Ventures.

The next 10 years will see the transition to a staged transition towards more robust, quantum-resistant environment of Bitcoin and other digital asset blockchains that is required by advances in quantum computing which could break existing public-key cryptography used by Bitcoin (and other electronic asset Blockchains) as well as others.

Other post-quantum crypto protection projects have also recently been in the news, including a Bitcoin testnet to run quantum-resistant cryptography.

It is building the tools to make complex, multi-year migrations useful for networks and institutions such as readiness assessments, migration test environments and deployment sequencing,” Project Eleven said.

As quantum capabilities grow, the stakes could not be higher as they got closer. In a post on X, Alex Pruden, CEO and co-founder of the digital asset ecosystem, said ‘We can’t afford to ignore this existential risk that is associated with our ability to take advantage of it. The value of “Trillions” is based on these cryptographic assumptions. Because networks such as Bitcoin are governed cautiously by design, it takes years to upgrade because they’re under pressure from network owners. The industry can migrate deliberately rather than improvise under pressure, so we’re focused on making the transition practical now. – ’.

Project Eleven is already collaborating with the Solana Foundation on post-quantum readiness planning and technical work, the company said.

Other members of the Series A round were Fin Capital, Variant, Quantonation, Nebular and Formation, Lattice Fund, Satstreet Ventures, Nascent Venture & Balaji Srinivasan.

In June 2025 the company raised a $6 million seed round with participation from Castle Island Ventures, Nebular and Formation in conjunction with Variant and Quantonation.

Project Eleven said it will unveil its next major product release in early 2026.

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