E+H has advised Andreessen Horowitz (a16z), one of the world’s largest US venture capital funds, on a USD 5.5 million seed financing round for Taceo GmbH (Taceo). a16z’s Crypto Startup Accelerator (CSX) already invested in Taceo last year and included the company in its blockchain accelerator program in New York. By providing another investment through CSX, a16z reinforced its trust in the start-up and its founder team.
Taceo is a Graz-based start-up that has developed the “Private Shared State” data model – a technology enabling cross-organizational processing of sensitive data without revealing its contents.
“Private Shared State” combines two key elements: Multi-Party Computation (MPC), which protects data during processing, and Zero-Knowledge Proofs (ZK), which allow the verification of outcomes without disclosing the underlying data. This enables data to remain encrypted at the recipient’s end while still allowing algorithms to be applied to it.
The financing round was led by lead investor Archetype. In addition to CSX, the company also secured investments from Cyber.Fund, A.Capital Ventures, Polymorphic, and several business angels. The funds will be used to support Taceo’s expansion into additional fields, with a particular focus on AI applications.
“We are pleased to have advised the renowned VC fund a16z on another investment into the promising start-up Taceo and wish the entire Taceo team all the best for their planned expansion”, said E+H venture capital and start-up expert Steve Jeitler, who led the transaction together with Florian Vidreis.
Taceo was legally advised by Schoenherr Attorneys at Law, Archetype was advised by Cooley LLP and LARK.
E+H Team (advisor to a16z)
Dr. Steve Jeitler, LL.M. (Berkeley) (Partner, Corporate + M&A, Start-up + VC), Florian Vidreis, LL.M. (WU) BSc (Associate, Corporate + M&A, Start-up + VC)
