Phoebe Gates' Shopping Startup Phia Raises $35 Million in Latest Funding Round
In a significant development in the fashion-tech space, Phoebe Gates, daughter of Microsoft co-founder Bill Gates, has successfully closed a substantial $35 million funding round for her innovative shopping startup, Phia. The 10-month-old company, which focuses on promoting sustainable and cost-effective shopping alternatives, has attracted notable investors in this latest investment round.
Investment Details and Company Background
The recent funding round was spearheaded by Notable Capital, with active participation from Khosla Ventures and returning investor Kleiner Perkins. This substantial financial injection comes at a crucial growth phase for the young company, which was co-founded by Phoebe Gates and her Stanford University roommate, Sophia Kianni, in 2025.
Phia operates as both a mobile application and browser extension, designed to revolutionize how consumers approach online shopping. The platform's primary function is to help shoppers save money while making more sustainable choices by displaying resale and secondhand alternatives to products they're viewing across thousands of online retailers.
Bill Gates' Unique Involvement
While Bill Gates has not made a financial investment in his daughter's venture, he has contributed something equally valuable: his time and extensive experience. The tech billionaire recently announced his collaboration with Phia through a LinkedIn post, where he revealed his intention to join the company's customer experience team for a day.
In his social media announcement, Gates wrote: "I've entered the startup world again... When your daughter asks if you'd be willing to work a shift in customer service at her startup, the only right answer is yes." He further elaborated on his motivation, stating: "I've spent a lot of time thinking about how technology can make systems more efficient, equitable, and accessible. But I've learned over the years that the best way to understand how something works, or where it breaks, is to go straight to the people using it."
Company Growth and Early Support
Phia's journey began with an initial $8 million investment from prominent figures including Kris Jenner, Sara Blakely, and Sheryl Sandberg. Since its launch, the company has demonstrated impressive growth metrics, boasting hundreds of thousands of monthly active users and recording an 11x revenue growth since inception.
The startup has successfully onboarded 6,200 retail partners, expanding its reach and impact across the e-commerce landscape. Gates described Phia as "a fashion-tech tool built to make shopping smarter and more sustainable" and expressed admiration for how the founders are "tackling a massive challenge, rethinking the way we shop, by meeting users where they are."
Future Prospects and Industry Impact
With this new funding and high-profile support, Phia is positioned to expand its market presence and technological capabilities. The company's approach to combining price comparison with sustainability considerations addresses growing consumer demand for both economic value and environmental consciousness in shopping habits.
Bill Gates concluded his announcement with characteristic humor, writing: "Looking forward to getting back into the startup scene. Hopefully, I won't break anything (no promises)." His hands-on involvement, though temporary, underscores the personal commitment behind this venture and adds a unique dimension to Phia's growth story in the competitive fashion-tech sector.
