Project Eleven, the New York-based quantum-security infrastructure firm, has acquired Riva Labs to accelerate post-quantum cryptography deployments for digital assets. Financial terms were not disclosed.

The acquisition brings Riva Labs' specialized work in post-quantum signatures, multi-party computation (MPC) and blockchain wallet infrastructure under a company that has raised $26 million across two venture rounds and carries a $120 million post-money valuation. The deal reads less like a moonshot and more like a calculated talent grab.

What does Riva Labs bring?

Riva Labs has carved out a niche translating dense post-quantum cryptographic research into systems that run on live blockchains. The team has:

• Built practical deployments on Ethereum and other public chains
• Demonstrated advanced consumer hardware signing capabilities
• Integrated AI into its research process

Project Eleven CEO Alex Pruden pointed to Riva Labs' ability to make cryptographic research applicable in real-world systems as a key factor in the deal. The combined team's focus on MPC — a technique that splits cryptographic keys across multiple parties so no single point of failure exists — is directly relevant as the industry works out how to secure assets against future quantum attacks.

Why the quantum threat has a deadline

Quantum computing's risk to crypto is not theoretical. Current blockchain security, including Bitcoin and Ethereum, relies heavily on elliptic-curve cryptography. A sufficiently powerful quantum computer running Shor's algorithm could derive private keys from public keys, effectively unlocking any wallet whose public key has been exposed.

Project Eleven has positioned itself at the center of this migration effort since its founding in October 2024. The company has already collaborated with the Solana Foundation and Ripple on blockchain quantum-readiness initiatives. The National Institute of Standards and Technology (NIST) finalized its first post-quantum cryptographic standards in 2024, giving the broader technology industry a defined set of algorithms to build around — and turning quantum readiness from a research topic into an engineering roadmap.

How the deal is funded

Project Eleven raised $6 million in a seed round in June 2025, then followed with a $20 million Series A that closed in January 2026. That Series A pushed the company's post-money valuation to $120 million. The investor list includes Castle Island Ventures and Coinbase Ventures.

What does this mean for Ethereum?

For Ethereum specifically, Riva Labs' prior work on practical post-quantum deployments could prove valuable as the network continues its long upgrade roadmap. Vitalik Buterin has publicly discussed quantum resistance as a long-term priority for Ethereum, and battle-tested implementations ready to deploy could compress that timeline.

The acquisition consolidates scarce engineering talent at a moment when NIST's finalized standards give institutions a concrete specification to migrate toward — and when exposed public keys remain the sector's most measurable quantum liability.