The encryption technology startup TACEO has completed a $5.5 million seed round financing, with participation from a16z CSX

ChainCatcher news, according to TFN, Austrian crypto technology startup TACEO has completed a $5.5 million seed round financing, led by Archetype VC, with participation from a16z CSX, Cyber.Fund, a _capital, and Polymorphic Capital. The new funding will be used to enhance infrastructure performance and develop developer tools, focusing on expanding privacy-compliant applications in the fields of finance, AI, and stablecoins.

The company's core technology, "Private Shared State," enables collaborative computation on encrypted data among multiple parties and has successfully supported biometric authentication for 14 million users in the World ID project led by Sam Altman. Its technology integrates multi-party computation (MPC) and coSNARKs zero-knowledge proofs, allowing for the verification of computational accuracy without exposing the original data.