Quick take:
- The fundraising was closed at a valuation of $120 million and comes ahead of the product launch scheduled for early 2026.
- It brings the total raised to $26 million, following a $6 million seed round announced in June 2025.
- The company is building post-quantum computing tools to make complex, multi-year migrations practical for networks and institutions, including readiness assessments, migration test environments, and deployment sequencing.
Project Eleven, the post-quantum computing crypto security company building tools to market to secure migration processes for companies, has raised $20 million in a Series A round led by Castle Island Ventures.
The fundraising also attracted participation from Coinbase Ventures, Fin Capital, Variant, Quantonation, Nebular, Formation, Lattice Fund, Satstreet Ventures, Nascent Ventures, and Balaji Srinivasan, according to a press release seen by NFTgators.
The latest round follows Project 11’s $6 million seed round announced in June 2025, thus bringing the total raised to $26 million. According to reports, the funding was closed at a valuation of $120 million.
It also comes ahead of the post-quantum security firm’s product launch, scheduled for early 2026. The company is building post-quantum computing tools to make complex, multi-year migrations practical for networks and institutions, including readiness assessments, migration test environments, and deployment sequencing.
“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.”
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