Odaily Planet Daily News: Project Eleven, a crypto security startup dedicated to protecting cryptocurrencies from the threat of quantum attacks, has announced the completion of a $20 million funding round, valuing the company at $120 million. The new funds will be used to develop cryptographic schemes that are resistant to quantum computing attacks, aiming to provide an upgrade path for existing public blockchains and crypto assets to address the risk that quantum computing could break the security of current cryptographic algorithms. The company previously raised $6 million in investment last year, led by Variant Fund and Quantonation. (Axios)
Project Eleven Completes $20M Funding at $120M Valuation to Develop Quantum-Resistant Cryptographic Security
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Summary
Project Eleven, a cryptocurrency security startup, announced a $20 million funding round at a $120 million valuation. The announcement highlights the company's focus on quantum-resistant cryptocurrency security. Variant Fund and Quantonation led the investment. The capital will support the development of cryptographic solutions for public blockchains. The company had previously raised $6 million.
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