Quantum-Resistant Future: Project Eleven Secures $20 Million to Fortify Blockchain Security

The coming decade presents an existential challenge to digital asset networks: advancements in quantum computing could render the cryptographic foundations securing Bitcoin and other blockchains obsolete. To address this critical infrastructure need, Project Eleven, a startup founded by a former U.S. Special Forces officer, has successfully closed a $20 million Series A funding round. The investment 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.

The Quantum Threat to Blockchain Cryptography

The stakes are remarkably high. Current public-key cryptography systems that protect digital assets depend on mathematical assumptions that quantum computing could shatter. Unlike traditional computing, quantum systems operate on principles that would enable them to break the encryption protecting trillions in value across blockchain networks. Bitcoin and similar networks, which rely on decades-old cryptographic standards, face a staged but urgent need to transition toward quantum-resistant protocols.

The challenge extends beyond technology. These networks operate under conservative governance models by design, making upgrades inherently slow and deliberate. Project Eleven recognizes that this governance reality means the industry cannot wait until quantum threats materialize—preparation must begin now, systematically, and across multiple layers of the ecosystem.

Project Eleven’s Comprehensive Migration Framework

Project Eleven addresses this challenge by building practical tools for the complex, multi-year migrations that networks and institutions must undertake. The company develops readiness assessments to evaluate current vulnerabilities, migration test environments to safely experiment with quantum-resistant alternatives, and deployment sequencing strategies to coordinate network-wide upgrades. This infrastructure transforms what could be a chaotic emergency response into a deliberate, phased transition.

As Alex Pruden, CEO and co-founder, emphasized: “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. 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.”

Strategic Partnerships and Industry Momentum

Project Eleven is already collaborating with the Solana Foundation on post-quantum readiness planning and technical implementation. This partnership demonstrates the startup’s credibility and the industry’s growing recognition of quantum readiness as a strategic priority.

The funding trajectory reinforces this momentum. Project Eleven raised a $6 million seed round in June 2025 led by Variant and Quantonation, with participation from Castle Island Ventures, Nebular, and Formation. The current Series A round tripled that commitment, signaling strong investor confidence in the company’s market opportunity and technical approach.

Next Milestones and Market Outlook

Project Eleven plans to unveil its next major product release in early 2026, positioning the startup at the forefront of the post-quantum transition movement. Other initiatives in this space, including quantum-resistant cryptography testnets for Bitcoin, indicate that the broader industry is mobilizing around this challenge. Project Eleven’s combination of practical migration tools, institutional partnerships, and substantial funding positions it as a key infrastructure provider for the quantum-resistant blockchain future.