Project 11 Raises $6 Million for “Quantum-Safe Cryptography”

Reading Time: 2 minutes

• Project 11 has raised $6 million in a funding round led by Quiet Capital
• The company has unveiled plans to develop cryptography resistant to quantum computing threats
• Its founders have said the technology aims to protect digital infrastructure in a “post-quantum world”

Project 11, a newly launched venture focused on building cryptographic tools to resist quantum computing, has secured $6 million in seed funding. The company says it is tackling one of the most urgent but overlooked challenges in cybersecurity: how to secure digital assets before quantum computers can break current encryption standards. This threat, only recently considered decades away, is becoming a more tangible threat with increased research into quantum computing, forcing bodies like Project 11 to act.

A Race Against Time

Quantum computing, though still in its infancy, carries the substantial threat of being able to upend the foundations of digital security. Algorithms like RSA and ECC, which underpin most of today’s secure internet communications, are vulnerable to being cracked by quantum machines, which could wreak havoc on blockchains, reversing transactions and double-spending coins en masse.

Project 11, which has been launched by a team of engineers and security researchers, says it is aiming to get ahead of that threat before it becomes a reality:

Today we’re announcing a $6 million seed round at Project Eleven, to build a quantum-ready future for digital assets. The seed round was co-led by @variantfund and @Quantonation with participation from @CastleIslandVC, @Nebularvc, and @formation_vc.

Why this matters: Quantum…

— Project 11 (@qdayclock) June 19, 2025

Building Quantum Resilience

Project 11 is developing what it describes as a “secure-by-default” platform that could help companies and governments transition safely to post-quantum cryptography. While exact details of their tech stack remain under wraps, Project 11 positions itself as a practical response to what it sees as inevitable change: the day when quantum computers are powerful enough to decrypt existing cryptographic protocols. 

Though quantum threats are still hypothetical for now, institutions including the National Institute of Standards and Technology and the National Security Agency have already begun pushing for post-quantum standards. Given that tech giants such as IBM and Google are already experimenting with quantum computing, the launch of Project 11 is well-timed.