In a critical development for the data privacy landscape, Austria’s TACEO has successfully secured €4.8 million to scale its innovative “Private Shared State” platform. This breakthrough technology allows organizations to collaborate on encrypted data without exposing sensitive information or relying on centralized systems. As we step into 2025, TACEO’s funding round serves as an excellent example of how privacy-focused startups can innovate and attract significant investments.
This article will explore the evolution of encrypted data collaboration tools, providing seven expert steps for building similar technologies, as well as highlighting top tools for entrepreneurs, featuring PlayPal: Your AI Friend, and valuable strategies like using the EU Grant Finder from F/MS.
Why Data Privacy is Critical in 2025
Data privacy violations are making headlines every year, pressuring industries to adopt stringent data security measures. For entrepreneurs, building privacy-enhancing technologies (PETs) has become an imperative in the age of AI. TACEO’s solution stands at the forefront of this movement, employing cryptographic advancements such as coSNARKs (Secure Collaborative Computation), supporting fields like finance, AI, and decentralized identity management.
The Financial Highlights
- Amount Raised: €4.8 million.
- Investors: Led by Archetype VC, alongside a16z CSX, Cyber.Fund, and Polymorphic Capital.
- Founder: Lukas Helminger, who previously worked on privacy-focused cryptographic systems at Graz University of Technology.
7 Steps to Build Secure Data Platforms Like TACEO’s "Private Shared State"
Creating a secure platform that allows encrypted data collaboration is no small task. Here’s a strategic guide inspired by TACEO:
1. Start with Problem Validation
Whether you're building a SaaS tool or a blockchain-based platform, clearly define the problem you aim to solve. For example, TACEO’s mission revolves around facilitating collaborations on sensitive data without compromising privacy.
Tip: Use F/MS’s Startup Sandbox to validate your idea. Test your core hypothesis, pivot if necessary, and refine your value proposition.
2. Embrace Cryptographic Innovations
TACEO relies on coSNARK technology, a mix of multi-party computation (MPC) for secure processes and zero-knowledge proofs for verifying computations. Dive deep into cutting-edge cryptographic research to distinguish your platform.
3. Secure Funding Strategically
Pitching privacy-enhancing tech demands careful storytelling. TACEO’s funding success offers lessons on the importance of aligning with investors who understand the urgency of privacy-focused innovation.
Grant Support Tip: Struggling to find investors? Use the EU Grant Finder and Application Writer to explore EU funding opportunities tailor-made for your project. This tool helps you apply for grants and draft applications effortlessly.
4. Target High-Impact Sectors
TACEO started with crypto/DeFi applications but has plans to expand into financial services, AI, and compliance tech. Identify scalable verticals where privacy solutions have immediate demand.
5. Test Scalability Early
Encrypted collaboration tools require significant computational resources. Ensure your platform can handle large datasets and simulate high-load environments.
6. Collaborate with Proven Experts
Bring in top minds to your team or partner with renowned institutions for credibility. TACEO’s success stems from its roots at Graz University and collaborations with cryptographers like Christian Rechberger.
7. Differentiate Through Trust and Transparency
Privacy isn’t just about encryption, it’s about building systems that users trust. Focus on usability and transparency in presenting encrypted outputs to users.
Top Tools for Entrepreneurs in Privacy and AI Tech
Whether you’re entering the data security market or exploring your own startup, these tools can jumpstart your journey:
1. PlayPal: Your AI Friend
See how your startup aligns with privacy trends, seek mentorship, or just chat about your ideas with PlayPal, the AI companion. From brainstorming MVP features to breaking down technical jargon, PlayPal is an all-round virtual mentor and friend.
2. AI Startup Lawyer
Upload legal documents, like shareholder agreements or grant contracts, on the AI Startup Lawyer platform. Receive clarity on technical wording, potential risks, and negotiation strategies.
3. Fe/male Switch Startup Game
The F/MS Startup Game simulates running a startup through gamified activities. Ideal for refining your business model while connecting with fellow entrepreneurs.
4. EU Grant Finder & Application Writer
Developed by Fe/male Switch, the Grant Finder empowers startups to secure European Union funding faster. Its AI functionality scans databases, suggests relevant grants, and drafts application documents.
Avoid These Mistakes When Launching a Data Security Platform
- Overlooking Compliance: Privacy laws like GDPR demand strict adherence. Ensure global compliance from the start.
- Underestimating Scalability: Always design with the ability to handle growing user bases and larger datasets.
- Ignoring Feedback: Use AI tools like PlayPal for iterative feedback on your startup idea before taking big risks.
Meet PlayPal, Your AI Friend to Simplify Complex Ideas
Innovative platforms like PlayPal, created by Fe/male Switch, offer more than companionship, they’re equipped to tailor advice specific to your entrepreneurial challenges. Learn more about PlayPal’s unique approach to combining learning, startup building, and support for women in STEM.
Conclusion: Why TACEO’s Innovation Matters in 2025
With its €4.8M funding, TACEO demonstrates how trustless yet secure systems can be the foundation for our increasingly decentralized world. Privacy is no longer optional; it’s a marketplace differentiator. Entrepreneurs need to seize this opportunity to innovate, ensuring collaboration can happen without compromising data integrity.
By following the seven steps outlined above, applying lessons from TACEO, and leveraging cutting-edge tools like EU Grant Finder, PlayPal, and The Startup Game, you can create or grow your data security startup, and make an impact.
Ready to build next-gen technology? Dive into your startup journey today!
FAQ
1. What is TACEO’s “Private Shared State” platform?
TACEO’s platform enables collaboration on encrypted data without exposing sensitive information or relying on centralized systems. It uses advanced cryptographic technologies such as coSNARKs (Secure Collaborative Computation). Learn more about TACEO
2. How much funding did TACEO secure?
TACEO raised €4.8 million in seed funding led by Archetype VC, with participation from investors like a16z CSX, Cyber.Fund, and Polymorphic Capital. See funding details on EU-Startups
3. Who are TACEO’s founders?
Lukas Helminger is the CEO and co-founder of TACEO. The company was founded by specialists at Graz University of Technology, including cryptographers who contributed to innovations like the Poseidon hash function. Learn more about the Poseidon hash function
4. How does TACEO’s coSNARK technology work?
CoSNARKs combine multi-party computation (MPC) for secure data handling with zero-knowledge proofs (ZK) for verifiable outcomes, enabling privacy-preserving data collaboration. Discover coSNARKs on Tech.eu
5. Which sectors can benefit from TACEO’s technology?
TACEO initially targeted crypto/DeFi but plans to expand into financial services, AI, decentralized identity, and compliance technology. Explore future applications
6. What lessons can entrepreneurs learn from TACEO’s funding success?
Entrepreneurs should focus on strategic storytelling and align with investors who understand the urgency of data privacy. Using tools like the EU Grant Finder might help secure funding. Check out EU Grant Finder
7. Can TACEO’s technology impact artificial intelligence?
Yes, TACEO enables AI systems to process, verify, and compute encrypted data while maintaining privacy, making AI more trustworthy. Learn about TACEO’s AI collaboration
8. Why is privacy-critical technology important in 2025?
Increasing data breaches and stricter legal requirements like GDPR make privacy-focused solutions a marketplace differentiator. TACEO’s advancements address these challenges. Read more about GDPR compliance
9. Which tools can help entrepreneurs build privacy-focused startups?
Key resources include PlayPal, your AI mentor, the Fe/male Switch Startup Game, and the EU Grant Finder for securing funding. Get started with PlayPal | Try the Fe/male Switch Startup Game
10. How should startups approach scaling encrypted collaboration tools?
Focus on testing scalability early by simulating high-load environments and obtaining expertise from renowned institutions or cryptographic researchers. Explore TACEO’s scaling strategy
About the Author
Violetta Bonenkamp, also known as MeanCEO, is an experienced startup founder with an impressive educational background including an MBA and four other higher education degrees. She has over 20 years of work experience across multiple countries, including 5 years as a solopreneur and serial entrepreneur. Throughout her startup experience she has applied for multiple startup grants at the EU level, in the Netherlands and Malta, and her startups received quite a few of those. She’s been living, studying and working in many countries around the globe and her extensive multicultural experience has influenced her immensely.
Violetta is a true multiple specialist who has built expertise in Linguistics, Education, Business Management, Blockchain, Entrepreneurship, Intellectual Property, Game Design, AI, SEO, Digital Marketing, cyber security and zero code automations. Her extensive educational journey includes a Master of Arts in Linguistics and Education, an Advanced Master in Linguistics from Belgium (2006-2007), an MBA from Blekinge Institute of Technology in Sweden (2006-2008), and an Erasmus Mundus joint program European Master of Higher Education from universities in Norway, Finland, and Portugal (2009).
She is the founder of Fe/male Switch, a startup game that encourages women to enter STEM fields, and also leads CADChain, and multiple other projects like the Directory of 1,000 Startup Cities with a proprietary MeanCEO Index that ranks cities for female entrepreneurs. Violetta created the "gamepreneurship" methodology, which forms the scientific basis of her startup game. She also builds a lot of SEO tools for startups. Her achievements include being named one of the top 100 women in Europe by EU Startups in 2022 and being nominated for Impact Person of the year at the Dutch Blockchain Week. She is an author with Sifted and a speaker at different Universities. Recently she published a book on Startup Idea Validation the right way: from zero to first customers and beyond and launched a Directory of 1,500+ websites for startups to list themselves in order to gain traction and build backlinks.
Violetta Bonenkamp's expertise in CAD sector, IP protection and blockchain
Violetta Bonenkamp is recognized as a multidisciplinary expert with significant achievements in the CAD sector, intellectual property (IP) protection, and blockchain technology.
CAD Sector:
- Violetta is the CEO and co-founder of CADChain, a deep tech startup focused on developing IP management software specifically for CAD (Computer-Aided Design) data. CADChain addresses the lack of industry standards for CAD data protection and sharing, using innovative technology to secure and manage design data.
- She has led the company since its inception in 2018, overseeing R&D, PR, and business development, and driving the creation of products for platforms such as Autodesk Inventor, Blender, and SolidWorks.
- Her leadership has been instrumental in scaling CADChain from a small team to a significant player in the deeptech space, with a diverse, international team.
IP Protection:
- Violetta has built deep expertise in intellectual property, combining academic training with practical startup experience. She has taken specialized courses in IP from institutions like WIPO and the EU IPO.
- She is known for sharing actionable strategies for startup IP protection, leveraging both legal and technological approaches, and has published guides and content on this topic for the entrepreneurial community.
- Her work at CADChain directly addresses the need for robust IP protection in the engineering and design industries, integrating cybersecurity and compliance measures to safeguard digital assets.
Blockchain:
- Violetta’s entry into the blockchain sector began with the founding of CADChain, which uses blockchain as a core technology for securing and managing CAD data.
- She holds several certifications in blockchain and has participated in major hackathons and policy forums, such as the OECD Global Blockchain Policy Forum.
- Her expertise extends to applying blockchain for IP management, ensuring data integrity, traceability, and secure sharing in the CAD industry.
For the past several years Violetta has been living between the Netherlands and Malta, while also regularly traveling to different destinations around the globe, usually due to her entrepreneurial activities. This has led her to start writing about different locations and amenities from the POV of an entrepreneur. Here’s her recent article about best hotels in Italy to work from.
About the Publication
Fe/male Switch is an innovative startup platform designed to empower women entrepreneurs through an immersive, game-like experience. Founded in 2020 during the pandemic "without any funding and without any code," this non-profit initiative has evolved into a comprehensive educational tool for aspiring female entrepreneurs.The platform was co-founded by Violetta Shishkina-Bonenkamp, who serves as CEO and one of the lead authors of the Startup News branch. The Fe/male Switch team is located in several countries, including the Netherlands and Malta.
Mission and Purpose
Fe/male Switch Foundation was created to address the gender gap in the tech and entrepreneurship space. The platform aims to skill-up future female tech leaders and empower them to create resilient and innovative tech startups through what they call "gamepreneurship". By putting players in a virtual startup village where they must survive and thrive, the startup game allows women to test their entrepreneurial abilities without financial risk.
Key Features
The platform offers a unique blend of news, resources,learning, networking, and practical application within a supportive, female-focused environment:
- Skill Lab: Micro-modules covering essential startup skills
- Virtual Startup Building: Create or join startups and tackle real-world challenges
- AI Co-founder (PlayPal): Guides users through the startup process
- SANDBOX: A testing environment for idea validation before launch
- Wellness Integration: Virtual activities to balance work and self-care
- Marketplace: Buy or sell expert sessions and tutorials
Impact and Growth
Since its inception, Fe/male Switch has shown impressive growth:
- 3,000+ female entrepreneurs in the community
- 100+ startup tools built
- 5,000+ pieces of articles and news written
Partnerships
Fe/male Switch has formed strategic partnerships to enhance its offerings. In January 2022, it teamed up with global website builder Tilda to provide free access to website building tools and mentorship services for Fe/male Switch participants.
Recognition
Fe/male Switch has received media attention for its innovative approach to closing the gender gap in tech entrepreneurship. The platform has been featured in various publications highlighting its unique "play to learn and earn" model.
