Phoebe Gates, the youngest daughter of Bill Gates and Melinda French Gates, has raised $30 million for her AI shopping startup Phia, according to a pitch deck seen by Bloomberg.
A Phia spokesperson also confirmed the round to Bloomberg. The new funding brings Phia’s valuation to $180 million, only months after the company closed its first $8 million raise in September. The round is led by Notable Capital, guided by managing partner Hans Tung, whose previous bets include Anthropic and Airbnb.
Kleiner Perkins and Khosla Ventures, under partner Keith Rabois, are also participating, per Bloomberg’s reporting.
The company, co-founded by Gates and Sophia Kianni, has built a lineup of well-known supporters. Backers include Hailey Bieber, Kris Jenner, Sheryl Sandberg, and Sara Blakely.
Gates told Vogue that her father, despite publicly supporting the project, has not invested in it.
AI-powered fix for ‘broken’ online shopping
Phia’s founders argue that the way people shop online today simply isn’t working. Phia’s pitch describes online shopping as “broken,” with customers wasting time chasing deals and specific items while brands misfire with their consumer targeting.
The startup’s solution is an AI-based search engine, available as a mobile app and a Chrome browser extension. This tool is designed to help users find items, compare prices, and spot deals easily. According to the company, the Phia tool has been downloaded 750,000 times in the eight months leading up to November.
Gates emphasized the platform’s value in promoting sustainable habits. “There are enough clothes on the planet for the next six generations,” she told Elle in an interview. “We don’t need to buy new clothes. The rise in secondhand fashion is really exciting. We just need to make it a lot easier for consumers.”
Riding the wave of AI agent startups
Bloomberg notes that valuations for AI agent companies are climbing across sectors. In its pitch deck, Phia placed itself alongside startups like Harvey, Mercor, and Cursor — firms that have reached valuations of $8 billion, $10 billion, and $29.3 billion, respectively.
The comparison highlights the growing confidence investors have in automated tools built to handle time-consuming digital tasks and streamline decision-making.
With new funding, a celebrity-heavy investor roster, and strong download momentum, Phia is positioned as one of the most closely watched entrants in the booming AI shopping category.
Gates and Kianni say their long-term aim is an end-to-end assistant that can anticipate user needs and deliver personalized recommendations, a system built, as Gates put it, on the technology they “wish existed.”
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