Project Eleven said it raised a $20 million Series A to speed up tools and hands-on services that help blockchains and custodians move toward post-quantum cryptography. The company framed the round as a practical step to reduce the long-term risk that quantum computing could pose to the public-key systems used across digital assets.

The financing follows a $6 million seed round in June 2025 and is being positioned as the money that turns “research talk” into real rollout plans. Project Eleven’s message is that post-quantum readiness will take years to implement, so the right time to start is before the industry is forced into a rushed transition.

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 with participation from… pic.twitter.com/Wt0lBxczZy

— Project Eleven (@qdayclock) January 14, 2026

Who invested and what the company says it will build

The round was led by Castle Island Ventures and valued Project Eleven at $120 million, with participation from Coinbase Ventures, Fin Capital, Variant, Quantonation, Nebular, Formation, Lattice Fund, Satstreet Ventures, Nascent Ventures, and Balaji Srinivasan. This investor lineup reinforces that the market is treating post-quantum readiness as an operational priority, not just a theoretical concern.

Project Eleven described the core challenge in simple terms: blockchains and custodial platforms rely on classical cryptography, and changing security foundations is slow because governance and upgrades move cautiously. The company is betting that “planned, multi-year migration” will beat “emergency switch” once timelines get tight.

Project Eleven said Series A proceeds will fund tools and services that help teams plan and execute these transitions, including readiness assessments for protocol and treasury key inventories, test environments for multi-year migration paths, and tooling to sequence deployments across upgrade windows. The product list is built around coordination and execution, not just swapping one cryptographic method for another.

The company also described a self-custody product intended to protect user assets before full protocol migration is complete. That’s meant to cover the uncomfortable middle period where networks may not be fully upgraded, but users still need stronger protection for long-lived keys.

Partnerships, urgency, and what to watch next

Project Eleven also announced a collaboration with the Solana Foundation focused on post-quantum readiness planning and technical work, and said it expects to ship a major product release in early 2026. That upcoming release is positioned as the first visible proof point of whether the company can make post-quantum migration manageable for institutions, protocols, and everyday users.

CEO and co-founder Alex Pruden argued the timeline may be shorter than many assume, saying quantum developments are moving faster than people think and that he sees real risk within five years. Castle Island Ventures’ Nic Carter echoed the stakes, describing useful quantum computing as the biggest and most complex threat public blockchains have faced.

For developers and protocol engineers, the approach is clearly operational: staged rollout, careful sequencing, and tooling that reduces friction across governance and upgrade cycles. The near-term test is whether Project Eleven’s early-2026 product release meaningfully lowers the cost and complexity of upgrading security for systems that historically change slowly.