Project Eleven completes $20 million funding round at a valuation of $120 million.

Project Eleven, a crypto security startup dedicated to protecting cryptocurrencies from quantum attacks, announced the completion of a $20 million funding round, valuing the company at $120 million. The new funds will be used to develop quantum-resistant cryptographic solutions, aiming to provide an upgrade path for existing public blockchains and crypto assets to address the risk that quantum computing could break the security of existing cryptographic algorithms. The company previously raised $6 million last year, co-led by Variant Fund and Quantonation. (Axios)