A Milestone in Post-Quantum Defense: Project Eleven Hong Kong Tour Raises $20 Million in Investments

Project Eleven, as a crypto startup established to protect blockchain networks against quantum threats, has achieved significant success in its most recent funding round. Led by Castle Island Ventures and with participation from Coinbase Ventures, this Series A round secured $20 million. The company continues to move rapidly toward solving one of the most urgent issues in the crypto industry.

Quantum Computing: The Hidden Threat to Blockchain Security

Rapid advancements in quantum computing over the next decade could threaten the fundamental security infrastructure of major networks like Bitcoin and Ethereum. Since these networks’ security currently relies on public key cryptography, quantum computers could potentially break this encryption, making it one of the industry’s most critical challenges. Digital assets worth trillions of dollars are built on these cryptographic assumptions.

Project Eleven’s Technological Solution and Practical Approach

Founded by a former U.S. Special Forces officer, Project Eleven argues that ignoring this threat is impossible. The company aims not only to develop quantum-resistant cryptography but also to create a practical transition system for real-world use. CEO and co-founder Alex Pruden stated: “We cannot ignore this existential risk to the digital asset ecosystem. Networks like Bitcoin are carefully managed by design, so upgrades take years. Our focus is to enable the industry to make a planned transition rather than rushing to find urgent solutions under pressure.”

Project Eleven is developing comprehensive tools to facilitate complex, multi-year transitions for blockchains and institutions. These include readiness assessments, testing environments, and deployment strategies.

Strategic Partnership with the Solana Foundation

The company is currently collaborating with the Solana Foundation on post-quantum preparedness planning and technical development. This partnership underscores the trust Project Eleven has gained within the industry and highlights the urgency of its mission. Support from a leading blockchain project like Solana demonstrates the practical viability of the technology.

Strong Investor Group and Funding Structure

Investors participating in the Series A round include Variant, Quantonation, Nebular, Formation, Lattice Fund, Satstreet Ventures, Nascent Ventures, and Fin Capital. This broad investor base indicates a consensus across the industry on the importance of quantum security. Previously, the company completed a seed funding round in June 2025, led by Variant and Quantonation, raising $6 million. Notably, Balaji Srinivasan is also a key supporter of this initiative.

Other Market Players and Competition

Project Eleven is not alone; recent news has highlighted other startups working in the post-quantum crypto protection space. These include projects testing quantum-resistant cryptography on the Bitcoin testnet. However, Project Eleven’s focus on comprehensive tools and practical transition solutions sets it apart from competitors.

Future Plans and Product Roadmap

Project Eleven has announced that it will unveil its next major product launch in early 2026. This release is expected to shape the industry’s post-quantum transition strategy. The technical work and collaborative developments planned before this date will demonstrate whether the crypto industry is truly preparing for the quantum threat.