No Result
View All Result
  • Private Data
  • Membership options
  • Login
  • COUNTRY
    • ITALY
    • IBERIA
    • FRANCE
    • UK&IRELAND
    • BENELUX
    • DACH
    • SCANDINAVIA&BALTICS
  • PRIVATE EQUITY
  • VENTURE CAPITAL
  • PRIVATE DEBT
  • DISTRESSED ASSETS
  • REAL ESTATE
  • FINTECH
  • GREEN
  • PREMIUM
    • ItaHubHOT
      • ItaHub Legal
      • ItaHub Tax
      • ItaHub Trend
    • REPORT
    • INSIGHT VIEW
    • Private Data
Subscribe
  • COUNTRY
    • ITALY
    • IBERIA
    • FRANCE
    • UK&IRELAND
    • BENELUX
    • DACH
    • SCANDINAVIA&BALTICS
  • PRIVATE EQUITY
  • VENTURE CAPITAL
  • PRIVATE DEBT
  • DISTRESSED ASSETS
  • REAL ESTATE
  • FINTECH
  • GREEN
  • PREMIUM
    • ItaHubHOT
      • ItaHub Legal
      • ItaHub Tax
      • ItaHub Trend
    • REPORT
    • INSIGHT VIEW
    • Private Data
Home COUNTRY DACH

Austria’s TACEO secures €4.8 million to scale “Private Shared State” – an innovation in how to collaborate on encrypted data

EU Startupsby EU Startups
July 31, 2025
Reading Time: 3 mins read
in DACH, FINTECH, FRANCE, VENTURE CAPITAL
Share on FacebookShare on Twitter

Graz-based TACEO, a startup building infrastructure for secure computation on encrypted data, today announces it has closed its €4.8 million Seed funding round.

The round is led by Archetype VC with participation from a16z CSX, Cyber.Fund, A.Capital Ventures, Polymorphic Capital, and a number of prominent angel investors.

Lukas Helminger, Co-founder and CEO, comments: “For over a decade, industries have needed to compute across private, distributed datasets, yet privacy and collaboration never coexisted. The ability to instantly verify encrypted information without revealing the data is no longer a nice-to-have – it’s essential if we want to achieve transparency, fairness, and control in the AI era – before we no longer have the choice. The new cash injection will help us scale our technology to solve what we believe is the internet’s biggest unsolved problem.”

Formed in 2022, TACEO was founded by a team from Graz University of Technology. The team were first known for creating the Poseidon hash function (now a de-facto standard in zero-knowledge systems), and then a COVID-19 infection tracking system. These projects proved privacy-preserving, high-performance cryptography at scale.

TACEO builds software that lets multiple parties collaborate on sensitive data without exposing the underlying information or the need for centralised trust. This data model – a “Private Shared State” – is powered by a cryptographic tool called coSNARKs that combines two approaches: one for protecting data during computation, (Multiparty Computation – MPC) and one for proving outcomes (Zero-Knowledge Proofs – ZK).

TACEO says it has already shown it can make cutting edge technology commercially viable through its partnership with Sam Altman’s World (formerly WorldCoin). TACEO was tasked with creating software for its iris matching verification service – used to  give access to the World network. TACEO’s solution ensures that the biometric data of over 14 million people remains fully encrypted – even to World themselves. This is allegedly the largest MPC-secured dataset on public record.

“Decentralised compute has evolved rapidly in recent years. As on-chain use cases proliferate, the need for native private shared state as core infrastructure becomes more and more obvious,” says Archetype Founder and General Partner, Ash Egan. “TACEO is at the forefront of building programmable privacy into the Web3 compute stack, and we have had massive conviction in Lukas and the team since we first met, following Lukas’s presentation on coSNARKs at Archetype HQ. TACEO’s mission is wildly bold, and we’re ecstatic to announce our partnership with the team as they lock in ‘Private Shared State’ as a core computing standard for crypto.”

The company says it could enable AI LLMs and autonomous agents to verify facts and make decisions without accessing personal or proprietary information. The result is enhanced privacy, stronger security and smarter AI.

Equally, decentralised finance (DeFi) – such as stablecoins, which reached a market value of over €219  billion this year – continues to struggle with the trade-off between transparency and privacy. Institutions must either rely on public blockchains that expose sensitive data, or build their own infrastructure, which is complex, error-prone and incompatible with the broader web.

TACEO’s software offers a potential third path: allowing any payment provider to securely verify transactions and identities while proving compliance across decentralised networks – without exposing the underlying data.

Philipp Sippl, board member of World, comments: “We’ve deployed TACEO to build one of the largest privacy preserving systems in the world. The problem that we’re addressing is not a theoretical one, it’s a problem that needs a solution now and it’s also very important that such a system is built in a way that ensures strong cryptographic privacy, especially with such a widespread application. TACEO’s infrastructure here has been key to fulfill that mission.”

The capital from this round will be used to grow the team and scale the technology, expanding TACEO’s use cases beyond crypto and DeFi into all sectors where confidential data is critical – such as identity verification, financial services, and AI.

Read the orginal article: https://www.eu-startups.com/2025/07/austrias-taceo-secures-e4-8-million-to-scale-private-shared-state-an-innovation-in-how-to-collaborate-on-encrypted-data/

Gateways to Italy

Gateways to Italy – Offer your services to funds and investors willing to explore opportunities in Italy. Become a partner!

Gateways to Italy – Offer your services to funds and investors willing to explore opportunities in Italy. Become a partner!

by Partner
June 6, 2023

Sign up to our newsletter

SIGN UP

Related Posts

GREEN

Flox raises nearly $1M seed

August 8, 2025
SCANDINAVIA&BALTICS

Latvian startup receives €3.3 million to advance organ-on-chip technologies

August 8, 2025
DACH

Danish BioTech developer SNIPR Biome raises €35 million to target antimicrobial resistance in diseases like cancer

August 8, 2025

ItaHub

Crypto-assets supervision rules in Italy, Banca d’Italia will supervise payment systems and Consob on market abuse

Crypto-assets supervision rules in Italy, Banca d’Italia will supervise payment systems and Consob on market abuse

November 4, 2024
Italy’s SMEs export toward 260 bn euros in 2025

Italy’s SMEs export toward 260 bn euros in 2025

September 9, 2024
With two months to go before the NPL Directive, in Italy the securitization rebus is still to be unraveled

With two months to go before the NPL Directive, in Italy the securitization rebus is still to be unraveled

April 23, 2024
EU’s AI Act, like previous rules on technology,  looks more defensive than investment-oriented

EU’s AI Act, like previous rules on technology, looks more defensive than investment-oriented

January 9, 2024

Co-sponsor

Premium

AlixPartners: Automotive, retail and manufacturing sectors may go through restructuring in 2025

AlixPartners: Automotive, retail and manufacturing sectors may go through restructuring in 2025

July 11, 2025
Funds vying for management consulting firm BIP, a CVC portfolio company. All deals in the sector

Funds vying for management consulting firm BIP, a CVC portfolio company. All deals in the sector

March 6, 2025
Private equity, Italy 2024 closes with 588 deals as for investments and divestments from 549 in 2023. Here is the new BeBeez’s report

Private equity, Italy 2024 closes with 588 deals as for investments and divestments from 549 in 2023. Here is the new BeBeez’s report

February 10, 2025
Crypto-assets supervision rules in Italy, Banca d’Italia will supervise payment systems and Consob on market abuse

Crypto-assets supervision rules in Italy, Banca d’Italia will supervise payment systems and Consob on market abuse

November 4, 2024
Next Post

Telefónica CEO: Virgin Media O2 NetCo spin-off plans scrapped

Snowhawk and Nuveen invest in Prime Data Centers

EdiBeez srl

C.so Italia 22 - 20122 - Milano
C.F. | P.IVA 09375120962
Aut. Trib. Milano n. 102
del 3 aprile 2013

COUNTRY

Italy
Iberia
France
UK&Ireland
Benelux
DACH
Scandinavia&Baltics

CATEGORY

Private Equity
Venture Capital
Private Debt
Distressed Assets
Real Estate
Fintech
Green

PREMIUM

ItaHUB
Legal
Tax
Trend
Report
Insight view

WHO WE ARE

About Us
Media Partnerships
Contact

INFORMATION

Privacy Policy
Terms&Conditions
Cookie Police

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • COUNTRY
    • ITALY
    • IBERIA
    • FRANCE
    • UK&IRELAND
    • BENELUX
    • DACH
    • SCANDINAVIA&BALTICS
  • PRIVATE EQUITY
  • VENTURE CAPITAL
  • PRIVATE DEBT
  • DISTRESSED ASSETS
  • REAL ESTATE
  • FINTECH
  • GREEN
  • PREMIUM
    • ItaHub
      • ItaHub Legal
      • ItaHub Tax
      • ItaHub Trend
    • REPORT
    • INSIGHT VIEW
    • Private Data
Subscribe
  • Login
  • Cart