Project Eleven, a startup focused on safeguarding Bitcoin and other digital assets from quantum computing attacks, has successfully closed a $6 million seed round co-led by Variant. The firm’s efforts come in the wake of a rising threat from CRQC. One of their main priorities has become cybersecurity.

This seed funding will allow Project Eleven to advance their suite of quantum-resistant solutions and grow their team of experts. Quantum computing is moving quickly, though. That makes it more critical than ever that we have robust security protocols to defend our digital valuables.

Project Eleven's team draws a parallel between their mission and Netscape's pioneering work three decades ago.

Thirty years ago, Netscape laid the foundation for the modern web with the invention of SSL. As we enter the quantum era, Project Eleven aims to do the same: to secure today’s digital infrastructure–and to design new products and protocols for what comes next. - Project Eleven team

Netscape’s creation of the SSL (Secure Sockets Layer) protocol became a cornerstone of online security. SSL provides the essential encryption that protects online transactions. It has laid the foundation for e-commerce and the commercial internet as a whole. Netscape gets credit for the invention of SSL.

The Berlin-based startup has since been building solutions to safeguard blockchain networks from these types of attacks. The fruits of this work provide security and reliability in stewardship over these long-term digital assets.

A cryptographically relevant quantum computer (CRQC) will break the foundational security assumptions of Bitcoin and nearly every digital asset. - Alex Pruden and Conor Deegan of Project Eleven

The startup is focused on developing solutions that can protect blockchain networks from these potential attacks, ensuring the long-term security and reliability of digital assets.

​​In the coming decade, everything we trust online: your bank account, your identity, could be compromised in seconds - Project Eleven