Who is Phoebe Gates and what is Phia?

Phoebe Gates is the founder of Phia, a browser-based AI shopping agent designed to summarize product options, compare prices, and speed up checkout decisions. The Phia AI assistant focuses on practical, in-browser help rather than a separate app. Its reported valuation and new funding reflect growing investor interest in agentic AI for retail.

How much funding has Phia raised and at what valuation?

Reports indicate Phia raised US$35 million in its latest round, bringing total funding to about US$43 million and implying an estimated valuation near US$185 million. Investors view this as a signal that agent-based shopping could improve discovery, conversion, and affiliate revenue models if execution and user trust hold up.

Why does this matter for Canadian investors?

AI shopping agents can streamline cross-border price checks, coupon discovery, and returns, which are common pain points for Canadian shoppers. Investors here can play the theme through public companies in e-commerce infrastructure, ad technology, and cloud AI, or via diversified funds, while tracking user growth, retention, and conversion lift metrics.

What risks should we watch with AI shopping agents?

Key risks include privacy, affiliate bias, changing browser policies, and customer acquisition costs. We should expect clear labeling of sponsored results, consent-based data practices, and independent impact studies. Sustainable models will show improving retention, lower support costs, and verifiable conversion gains for merchants over multiple quarters.

Global Market Insights

February 23: Phoebe Gates’ Phia hits $185M as AI agents draw capital

ByDanny Kontos February 23, 2026February 23, 2026

Phoebe Gates just put AI shopping agents on the map. Phia, her browser-based Phia AI assistant, hit a US$185 million valuation after a new US$35 million round, bringing total funding to about US$43 million. For Canadian investors, this shows rising venture capital funding for agentic AI that could change how we search, compare prices, and buy online. We break down what Phia does, why this round matters, and how to build a watchlist around the theme.