Project Eleven, a startup developing post-quantum cryptographic security solutions, has raised $20 million in a Series A funding round led by Castle Island Ventures, the company announced Wednesday.
The round, which values the company at $120 million post-money, included participation from Coinbase Ventures, Fin Capital, Variant, Quantonation, and notable angel investor Balaji Srinivasan.
The funding will accelerate Project Eleven’s mission to safeguard digital assets against the existential threat of quantum computing, which could eventually break the elliptic curve cryptography (ECC) currently securing blockchains like Bitcoin and Solana. The startup is building “practical bridges” for migration, including readiness assessments and deployment sequencing tools.
“Useful quantum computing is the biggest and most complex threat public blockchains have ever faced,” said Nic Carter, General Partner at Castle Island Ventures, who will join the company’s board.
Project Eleven CEO Alex Pruden emphasized the urgency of the transition: “Trillions in value depend on these cryptographic assumptions. Networks like Bitcoin take years to upgrade… We’re focused on making the transition practical now.”
The company previously raised a $6 million seed round in June 2025 and is actively collaborating with the Solana Foundation on post-quantum readiness planning.
Project Eleven Raises $20M to Prepare Digital Asset Infrastructure for the Quantum Era. Project Eleven, the leader in post-quantum security and migration for digital assets, today announced a $20 million Series A funding round led by Castle Island Ventures.pic.twitter.com/Wt0lBxczZy— Project Eleven (@qdayclock) January 14, 2026