Phoebe Gates and her Phia cofounder raised $8 million at 23 years old, and it taught them 3 big lessons

"Phoebe Gates and Sophia Kianni, both 23, are turning heads with Phia, their AI fashion app that's drawing interest from investors andtrendsetters. Phia, an AI-powered shopping assistant, went live in April and said it has since amassed over 600,000 users. The free app and browser extension compare prices on fashion items across around 40,000 linked sites to help users find deals. It's the pair's first business, and it's making waves with investors."

"Gates is the youngest daughter of billionaire Microsoft founder Bill Gates and philanthropist Melinda French Gates. While she likely picked up a thing or two about running a business from her parents, Phia's early success appears to be all hers and Kianni's doing. They didn't turn to Gates' parent to back the startup. Instead, they pitched investors with an app they developed and tested."

Phoebe Gates and Sophia Kianni, both 23, launched Phia, an AI-powered fashion shopping assistant, in April. The free app and browser extension compares prices across about 40,000 linked sites and has amassed over 600,000 users. The founders raised $8 million in a seed round led by Kleiner Perkins and including investors such as Kris Jenner, Hailey Bieber, and Michael Rubin. Gates is the youngest daughter of Bill Gates and Melinda French Gates, but the pair did not rely on parental funding. They met as Stanford roommates, developed and tested the app themselves, and positioned Phia as a Gen Z-native solution amid larger competitors.

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