Quantum computing threats are approaching; this startup raises $20 million to protect blockchain

【Blockchain Rhythm】The advent of quantum computing is becoming a major concern for the entire cryptocurrency industry. In simple terms, once quantum technology matures, it can easily crack existing cryptographic algorithms—these are the very foundations that protect digital assets like Bitcoin and Ethereum.

Recently, a startup has targeted this pain point. According to reports, Project Eleven has just completed a new round of $20 million in funding, with the company’s valuation soaring to $120 million. The company’s mission is quite clear: to develop defense technologies against quantum computing attacks, ensuring that blockchain networks and digital assets are not compromised in the quantum era.

This is not their first round of funding. As early as June last year, Project Eleven secured $6 million in seed funding, led jointly by Variant Fund and quantum technology specialist investor Quantonation. From the pace of funding, investors still have confidence in this company’s quantum resistance solutions.

From a technical perspective, quantum computing can crack more than just cryptocurrencies. But in the Web3 space, this threat is especially urgent—because once keys are compromised, it directly impacts asset security. Project Eleven has taken this issue as its entrepreneurial focus, which to some extent also reflects that this sector attracts startup teams genuinely interested in solving practical problems.