Bill Gates’ youngest daughter, Phoebe Gates, has secured $30 million in new funding for her AI-driven shopping startup, Phia, catapulting the company into the spotlight of tech’s most competitive sector. The New York-based venture, cofounded by Gates and her Stanford classmate Sophia Kianni, is now valued at $180 million—a significant leap from its $8 million seed round closed in September.
The funding round, led by Notable Capital’s Hans Tung, includes participation from Kleiner Perkins and Khosla Ventures’ Keith Rabois. Phia has also attracted investments from celebrities and business leaders such as Hailey Bieber, Kris Jenner, Sheryl Sandberg, and Spanx founder Sara Blakely. Bill Gates has not financially backed the startup, though he publicly endorses its mission.
Phia aims to simplify online shopping chaos with an AI-powered search engine that integrates with Chrome and Safari browsers, enabling users to compare prices, track discounts, and discover products across retailers. Since its launch, the tool has been downloaded 750,000 times in just eight months.
Gates and Kianni conceptualized Phia while studying at Stanford, initially exploring a smart tampon idea before pivoting to fashion technology. The startup positions itself among high-value AI agents like Harvey ($8B valuation) and Cursor ($30B valuation).
At 23, Phoebe Gates—who has openly acknowledged her privilege as a “nepo baby”—is navigating her entrepreneurial journey amid her family’s public narrative. Bill and Melinda French Gates divorced in 2021, citing disagreements over his association with Jeffrey Epstein. Melinda later departed the Gates Foundation, receiving $12.5 billion for independent philanthropy. Bill has stated his children will inherit “less than 1%” of his wealth.
Phoebe graduated from Stanford in 2024 with a human biology degree, focusing on women’s health and equity before launching Phia.