Phoebe Gates' AI Startup Phia Raises $30M Funding

Phoebe Gates' AI startup, Phia, has raised $30 million in funding, valuing the company at $180 million. Despite being the daughter of Bill Gates, he has not invested in the venture but instead contributed his time and experience by working a shift in customer service at the startup.

Phia is a fashion-tech tool designed to help consumers shop smarter and more sustainably by finding the best prices and highlighting secondhand options. The app and browser extension have gained significant traction, achieving 750,000 downloads in just eight months.

The recent funding round was led by major investment firms including Notable Capital, Kleiner Perkins, and Khosla Ventures, and attracted notable investors like Hailey Bieber, Kris Jenner, Sheryl Sandberg, and Sara Blakely.

This investment showcases the growing interest in AI-driven applications in the retail sector, particularly among younger entrepreneurs. The concept for Phia originated from Phoebe Gates and her co-founder Sophia Kianni while they were living in a Stanford dorm room, evolving from an idea for a smart tampon to a focus on fashion technology.