Phia, a shopping app that lets users compare prices across sites for both used and new items, on Thursday announced it secured $8 million in seed funding.
The round was led by venture firm Kleiner Perkins, with backing from names like Hailey Bieber, Kris Jenner and former Meta executive Sheryl Sandberg.
Phia was founded by Phoebe Gates, daughter of Bill and Melinda Gates, and Sophia Kianni. The platform, which launched in April, uses AI to help consumers find and compare prices on visually similar items, estimate resale value and track price drops across different retailers through its app and browser extension. The company has amassed 500,000 users since launch and works directly with brands and retailers such as Cult Gaia and Revolve.
The company will use the funding to grow its team, including bringing on more engineers and AI researchers. It plans to introduce an AI shopping agent that generates personalised product recommendations based on users’ preferences, browsing behaviour and budget.
“Phoebe and Sophia recognized the white space that existed in the fashion industry and were quick to build a product this generation wants,” Hailey Bieber, founder of beauty brand Rhode, which was acquired by E.l.f. Cosmetics in May, said in a statement to The Business of Fashion. “They move fast and listen deeply to their customers. Backing female founders with this level of clarity and creativity is something I’m honored to be a part of.”
Phia’s seed round comes as fashion tech startups using AI attract interest from investors. Gen-AI design platform Raspberry raised $24 million in January; virtual try-on app Doji secured $14 million in May; and AI-powered personal styling platforms Alta and Gensmo took on $11 million and $60 million in funding, respectively, in June.
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