Project Eleven Raises $20 Million at a $120 Million Valuation

Odaily News: Project Eleven, a crypto security startup dedicated to protecting cryptocurrencies from quantum threats, announced the completion of a $20 million funding round, reaching a valuation of $120 million. The new funds will be used to develop cryptographic solutions resistant to quantum computing attacks. The goal is to provide an upgrade path for existing public chains and crypto assets to address the risk that quantum computing may break the security of current encryption algorithms. The company received $6 million in investment last year, co-led by Variant Fund and Quantonation. (Axios)