Venture(US:VEMLY) 3 6 Ke·2025-10-28 00:24Core Insights - Phoebe Gates and Sophia Kianni's startup, Phia, has successfully raised $8 million in seed funding, attracting notable investors from the entertainment industry [4][5] - Phia aims to revolutionize online shopping by providing an AI-driven shopping assistant that helps users find the best prices for clothing and accessories [5][14] Company Overview - Phia was founded in September 2023 by Phoebe Gates and Sophia Kianni, focusing on AI fashion technology [4][19] - The company has already gained over 600,000 users within six months of launching its shopping assistant application [5] - Phia's core functionality includes real-time price comparisons for new and second-hand items, helping users make informed purchasing decisions [5][9] Market Context - The global e-commerce sales are projected to grow from approximately $0.6 trillion in 2010 to about $6.4 trillion by 2025, indicating a tenfold increase [14] - Despite the growth in online shopping, the technology used for shopping has remained stagnant, leading to a demand for more efficient online shopping solutions [14] Product Features - Phia's database connects with top resale platforms, covering over 250 million items, and has partnerships with more than 5,000 brands [9] - The application is available as both an iOS app and a browser extension, enhancing accessibility for users [5] Founders' Background - Phoebe Gates, the youngest daughter of Bill Gates, aims to establish her own identity separate from her family's legacy [35] - Sophia Kianni has a strong background in climate activism and has been recognized by the United Nations for her efforts [28][30]