Artificial intelligence is advancing at unprecedented speed. Models are becoming faster, cheaper, and more deeply embedded into products, workflows, and everyday life. Until now, almost all the data powering AI has been used to train foundation models. But we believe the next critical layer is high-quality consumer data and insight at inference - the kind that can tailor, shape, and improve outputs in real time. Drawing on our deep knowledge of leveraging data across markets,

This piece is commentary and analysis, not investment advice. The past year has been a busy yet highly productive one at Iona Star as we continue to build a portfolio of companies aligned with our long-term technology vision. We have met with many exceptional founders developing businesses with compelling, well-defined, and differentiated value propositions.   Across every prospective investment, our focus remains consistent: the defendability of the moat , be it technologic