Project Eleven raises $20M for Bitcoin quantum resistance solutions

Project Eleven, a company developing solutions to protect the Bitcoin network from quantum computing, has raised $20 million in a Series A funding round led by Castle Island Ventures. The round, which included participation from Coinbase Ventures and Quantonation, valued the company at $120 million. Project Eleven is focused on building quantum-resistant tools and cryptographic standards to safeguard Bitcoin's core Elliptic Curve Cryptography (ECC) from potential threats posed by quantum computers.