Castle Island Ventures led the Series A funding round with participation from Coinbase Ventures, ahead of an early 2026 product launch.
NEW YORK, Jan. 15, 2026 /PRNewswire/ — Project Eleven, the leader in post-quantum security and migration for digital assets, today announced a $20 million Series A funding round. The round was led by Castle Island Ventures with participation from Coinbase Ventures, Fin Capital, Variant, Quantonation, Nebular, Formation, Lattice Fund, Satstreet Ventures, Nascent Ventures, and Balaji Srinivasan.
This funding round comes at a time when post-quantum cryptography is becoming a critical planning priority for both government and industry. Advances in quantum computing have the potential to eventually weaken elliptic curve cryptography (ECC), which is the public-key standard used by networks such as Bitcoin. This situation is prompting a staged transition across an ecosystem that secures over $4 trillion in digital assets.
Project Eleven is actively developing the necessary tools to make complex, multi-year migrations practical for networks and institutions. These tools include readiness assessments, migration test environments, and deployment sequencing solutions.
“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.”
Project Eleven is currently collaborating with the Solana Foundation and other leading protocols and Layer 1 ecosystems on post-quantum readiness planning and technical work.
The company previously raised a $6 million seed round in June 2025, which was led by Variant and Quantonation, with participation from Castle Island Ventures, Nebular, and Formation. Project Eleven plans to unveil its next major product release in early 2026. This release will add new capabilities for institutions, protocols, and end users who are looking 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 develops scalable solutions designed to strengthen security across a rapidly evolving quantum threat landscape. With extensive expertise in cryptography, blockchain, and financial systems, Project Eleven bridges advanced post-quantum research with real-world implementations, ensuring the digital asset ecosystem is prepared for the future. For more information, visit www.projecteleven.com.