Phoebe Gates' AI Shopping Company, Phia, Raises $35 Million

Valuation Reaches $185 Million as Gates Aims for Independent Success

Phoebe Gates, daughter of Microsoft co-founder Bill Gates and philanthropist Melinda French Gates, has raised $35 million for her AI shopping company, Phia. The company is now valued at approximately $185 million.

Gates, 23, co-founded Phia with Stanford University roommate Sophia Kianni. She has expressed a determination for the venture to succeed based on its own merits, separate from her family name or privilege.

Gates has stated that she has not accepted funding from her parents for Phia, opting instead to raise outside capital.

Phia: An AI Assistant for Smart Shopping

Phia operates as an AI shopping assistant that integrates with browsers like Chrome and Safari. Its function is to compare prices and identify deals across numerous retail and resale websites in real-time. For example, it can find and compare prices from second-hand sellers for items like a dress from Anthropologie.

The New York-based startup launched its app in 2025. It has experienced rapid growth, achieving hundreds of thousands of downloads within its initial months.

Funding Success and Notable Backers

The recent $35 million funding round was led by Notable Capital, with participation from firms including Kleiner Perkins and Khosla Ventures. This round follows an initial $8 million seed round.

Gates has noted that her father's business success taught her the importance of an effective team. She also mentioned receiving advice from her mother, Melinda French Gates, regarding how to address investor inquiries about future personal life events, such as having children.