Lio, an AI-powered procurement automation startup, has raised $30 million in Series A funding led by Andreessen Horowitz. The company's co-founders, Vladimir Keil, Lukas Heinzmann, and Till Wagner, launched Lio in 2023 after experiencing firsthand the inefficiencies of manual procurement processes while working at large enterprises and building their previous startup.

Traditional procurement involves navigating multiple systems—ERP software, contract management databases, supplier directories, and compliance checks—creating bottlenecks that slow enterprise purchasing. Even modern eProcurement tools leave most actual work to humans, forcing companies to build large internal teams or outsource operations. Lio's AI agents aim to change this by executing entire procurement workflows autonomously.

The fresh capital will fund U.S. expansion and enhance Lio's agentic infrastructure, which already manages billions in enterprise spend. The platform operates across enterprise systems to read documents, evaluate suppliers, negotiate terms, and complete transactions. One global manufacturer automated 75% of its previously outsourced procurement operations within six months using Lio's technology.