Phoebe Gates & Sophia Kianni Raise $8M for Phia with Lightning-Fast Gen Z Fundraising Tactics

Phoebe Gates and Sophia Kianni Raise $8M for Phia with Gen Z-Style Fundraising In a remarkable display of innovative fundraising, Phoebe Gates and her co-founder Sophia Kianni successfully raised $8 million in just three-and-a-half weeks for their fashion startup, Phia. The seed round was led by Kleiner Perkins, with notable investors including Kris Jenner and Hailey Bieber. Phia's founders attribute the rapid success to their use of Gen Z-style fundraising methods, which have proven effective in engaging a younger audience. "We're not just building an app, we're building a community," Gates said in an interview with TechCrunch. "We're using social media and online platforms to connect with our users and build a loyal following." Phia is a mobile app and browser extension that allows users to compare prices of fashion items across the web, similar to Google Flights for fashion. The company's mission is to make access to fashion more equitable by providing users with transparent pricing information. The startup has already gained significant traction, with over 500,000 users since its launch in April. Phia's founders believe that their app will play a major role in shaping the future of fashion, which they see as increasingly driven by technology and artificial intelligence. "We're not just building an app, we're building a platform for change," Kianni said. "We want to make it easier for people to access fashion that they may not have been able to afford otherwise." Phia's fundraising success has sparked interest in the tech industry, with many investors taking note of the company's innovative approach to fundraising and its potential for disrupting the fashion industry. Background and Context Phia is one of several fashion startups emerging in the era of artificial intelligence, which seeks to bring more ease and transparency to online e-commerce. The startup's founders are well-positioned to navigate this space, with Gates' family connections and Kianni's experience as a Stanford student. Additional Perspectives Industry experts believe that Phia's success is a testament to the power of Gen Z-style fundraising methods, which prioritize community engagement and social media outreach over traditional investor pitches. "Phia's approach is a breath of fresh air in an industry that often prioritizes profit over people," said one expert. Current Status and Next Developments With its seed round complete, Phia is now focused on rolling out new features and improving its search functionality. The company has already released a new and improved search feature that looks across more than 300 million fashion items online. As Phia continues to grow and evolve, its founders remain committed to their mission of making access to fashion more equitable. With $8 million in funding and a loyal user base, the startup is poised for significant growth and innovation in the years to come. *Reporting by Techcrunch.*