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Lio Technologies GmbH has completed a $30 million Series A funding round, led by Andreessen Horowitz, increasing total funds raised to $33 million. The capital will mainly support platform development and US market expansion.

Lio's agent-based AI platform automates corporate purchasing processes. Despite companies spending $180 billion annually on personnel in purchasing, only $10 billion is allocated to software solutions.

Lio's platform aims to replace manual processes with a virtual AI purchasing department. Since its 2023 launch, Lio has processed billions in purchases, with clients reporting efficiency gains, including one global group automating 75% of its outsourced processes within six months. The funding will facilitate further automation in procurement.