2026-01-15 03:43:18

Project Eleven announces the completion of a $20M Series A funding round. The round was led by Castle Island Ventures, with participation from several well-known institutions including a leading digital asset investment firm, Fin Capital, Variant, Quantonation, Nebular, Formation, Lattice Fund, and others.

Project Eleven is dedicated to advancing the practical application of post-quantum cryptography(Post-Quantum Cryptography), a technology critical to the long-term security of the Web3 ecosystem. As quantum computing technology develops, traditional encryption algorithms face potential threats, making post-quantum cryptography a key focus in the industry. This funding will be used to accelerate product development and market expansion.

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SmartMoneyWallet

· 17h ago

Post-quantum cryptography indeed has a good position, but the 20M funding amount is more conservative than expected. Just look at the distribution of chips among these institutions, and you'll see that no one is really going all-in.

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MEVHunterX

· 17h ago

Post-quantum cryptography is starting to raise funds again. This time, the investors are quite high-profile, but to be honest, it depends on whether they can truly implement it. I've been hearing about the quantum threat for several years, and so far, there hasn't been any substantial progress. A lot of money has been spent, and this is the result. 20M is indeed a significant amount. If it's wasted, it would be quite funny. This track is prone to becoming a hype concept. I hope they won't follow the trend.

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SolidityStruggler

· 17h ago

Post-quantum cryptography is really gaining popularity. Raising 20M so quickly shows that institutions are already aware of the risk issues. Quantum computing should have been taken seriously earlier. Starting now feels a bit late. Castle Island has good vision, but whether this field can truly be implemented depends on execution capability. How long can the 20M investment in this area last? It still depends on when they can produce tangible results. In this funding round, everyone wants a seat at the table, indicating that post-quantum cryptography is approaching reality.

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rug_connoisseur

· 17h ago

Quantum computing hasn't arrived yet; let's first patch the current security vulnerabilities.

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MetaMisery

· 18h ago

Is post-quantum cryptography really that urgent? It feels a bit like hype. --- 20M in funding, the investors are all good, but can this track produce a hit? --- Quantum threats still have a few years to come, is it too early to start now? --- Castle Island Ventures leading the investment shows confidence, after all, PQC is a future-oriented thing. --- Another "Web3 security" concept, there are many such funding rounds lol. --- I don't know how their products are, their funding pitches are all stories. --- Before the arrival of the post-quantum era, can these projects survive... --- The investment lineup is luxurious, but no one knows how much progress they've made. --- Is this track competitive? Feels like PQC startups are everywhere.

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GasFeeNightmare

· 18h ago

Post-quantum cryptography really needs to step up, or else when quantum computing arrives, we'll all be in trouble. --- 20M is quite a lot. The list of investors looks pretty solid. --- Honestly, I've been hearing about post-quantum for years. It all depends on who can actually bring it to fruition. --- Castle Island's investment this time isn't small. Are they betting on the quantum threat or just faith? --- Wait, can this really solve the quantum computing threat, or is it just another wave of hype? --- Raising funds is easy, but whether the product is good and useful—that's the real key.

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