Post-quantum crypto startup Project Eleven raises $20 million in funding round

"The funding raised by Project Eleven reaffirms the importance of post-quantum cryptography in today's rapidly evolving tech landscape. The advent of quantum computers presents a threat to existing cryptographic methods, and the growth potential of companies offering solutions in this area is likely to continue attracting investor interest. With this successful funding round, Project Eleven is well-positioned to focus on further technological developments, potentially intensifying competition in the crypto market as other firms may also consider investments in similar technologies. The risks lie in the dependence on the pace of practical applications of quantum cryptographic technology and keeping an eye on shifting competitive dynamics."