NEW YORK, Jan. 15, 2026 – Project Eleven, a company focused on post-quantum security and migration for digital assets, announced today a $20 million Series A funding round. The round was led by Castle Island Ventures and included participation from Coinbase Ventures, Fin Capital, Variant, Quantonation, Nebular, Formation, Lattice Fund, Satstreet Ventures, Nascent Ventures, and Balaji Srinivasan.
The Growing Need for Post-Quantum Cryptography
This funding comes at a time when post-quantum cryptography is becoming a significant priority for both government agencies and various industries. The potential for advanced quantum computing to compromise current public-key standards, such as elliptic curve cryptography (ECC) used by networks like Bitcoin, necessitates a proactive transition. This transition is crucial for an ecosystem that secures over $4 trillion in digital assets.
Project Eleven's Solution
Project Eleven is developing the essential tools to facilitate complex, multi-year migrations for networks and institutions. Their offerings include readiness assessments, migration test environments, and deployment sequencing, all designed to make the transition to quantum-resistant cryptography manageable.
"As quantum capabilities advance, the stakes couldn't be higher. We can't afford to ignore this existential risk posed to the digital asset ecosystem," said Alex Pruden, CEO and Co-Founder of Project Eleven. "Trillions in value depend on these cryptographic assumptions. Networks like Bitcoin take years to upgrade because they're governed cautiously by design. We're focused on making the transition practical now, so the industry can migrate deliberately instead of improvising under pressure."
"Useful quantum computing is the biggest and most complex threat public blockchains have ever faced," said Nic Carter, General Partner at Castle Island Ventures. "Project Eleven is building the practical bridge from research to real-world deployment."
Collaborations and Future Plans
Project Eleven is actively collaborating with the Solana Foundation and other prominent protocols and Layer 1 ecosystems on post-quantum readiness planning and technical development. This collaborative approach aims to ensure a coordinated and effective transition across the digital asset space.
The company previously raised a $6 million seed round in June 2025, led by Variant and Quantonation, with contributions from Castle Island Ventures, Nebular, and Formation. Project Eleven is preparing to launch its next major product release in early 2026. This upcoming release will expand its capabilities to support institutions, protocols, and end-users who are seeking to future-proof their long-lived cryptographic systems.
About Project Eleven
Project Eleven is dedicated to building resilient infrastructure and tooling for the post-quantum era. The company focuses on developing scalable solutions that enhance security in the face of an evolving quantum threat landscape. Leveraging deep expertise in cryptography, blockchain, and financial systems, Project Eleven bridges advanced post-quantum research with practical implementations to prepare the digital asset ecosystem for future challenges.
Media Contacts
Aubrey Strobel / Elena Nisonoff, Halcyon Communications
projecteleven@halcyonpr.xyz