On Thursday, Lio announced a $30 million Series A in a round led by Andreessen Horowitz. SV Angels, Harry Stebbings, and YC also partook in the round (Lio was part of the Spring ’23 batch). The company has raised $33 million in funding to date. Keil said the fresh capital will be used to expand the company throughout the U.S. and increase the capabilities of Lio’s AI agents, which aim to complete the entire procurement process for enterprise customers.
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Iran borders the Strait of Hormuz, a narrow waterway in the Persian Gulf through which exports from UAE, Qatar, Kuwait, and Iraq all flow. Shipmasters are now nervous to sail through it. The White House has suggested its military will offer escorts to ships along the strait in order to keep the route open, though whether that actually happens remains to be seen.
Steve Klabnik (@steveklabnik)