German startup Lio raises $30M to expand AI-driven procurement platform.

Lio, a German startup, has secured $30 million in Series A funding led by Andreessen Horowitz, with participation from other investors, to expand its AI-powered platform that automates enterprise procurement processes. The company uses agentic AI to streamline purchasing workflows, reduce costs, and improve supplier management for large organizations. The funding will support product development, market expansion, and hiring.