Bill Gates daughter Phoebe Gates’s AI-powered shopping app, Phia, has reportedly raised millions of dollars in funding from investors, including several high-profile celebrities. Phoebe Gates and Sophia Kianni launched the app last year in April and the app has since gained more than 1.5 million users.According to PEOPLE's May 29 report, Phia raised $35.5 million in its latest funding round led by Khosla Ventures, Notable Capital, and Kleiner Perkins. The outlet reported that the information about the latest funding was released on Friday. Phoebe Gates' company is backed by a number of A-list celebrities.Before the latest funding round, Phia raised $8 million in the seed round, in which Kris Jenner and Hailey Bieber also invested. The latest round reportedly received funding from Khloé Kardashian, Paris Hilton, Sydney Sweeney, Jessica Alba, Alix Earle, Olivia Culpo, Mindy Kaling, and Priyanka Chopra Jonas.In addition to support from people in the entertainment industry, Bill Gates' daughter's company reportedly has backing from notable personalities in tech entrepreneurship. Khloé Kardashian, one of the investors in Phoebe Gates' company, spoke with PEOPLE about her investment and explained why she backed Phia."What I love about this app is that it takes the guesswork out of shopping — it gives you real transparency around value so you can feel confident in your decisions instead of wondering if you made the right call afterward," Kardashian said.Phoebe Gates' startup has partnered with 9,600-plus retailers. The AI-powered platform helps shoppers find the best prices, calculate resale values, track price changes, and make more sustainable fashion purchases.Phoebe Gates and Sophia Kianni founded Phia after coming up with "the dumbest ideas"Bill Gates' daughter and the Iranian-American social activist were roommates at Stanford. They began working on entrepreneurship during their studies. The two appeared on Alex Cooper's podcast in April last year and discussed their AI fashion business. The Call Her Daddy host asked the two how they founded Phia.Gates noted that she was interested in developing something related to birth control or access to abortion after the Roe v. Wade ruling. The Microsoft founder's daughter stressed that she and Kianni wanted to develop something that combined their activism interests. Phoebe Gates shared that they came up with the idea of Bluetooth tampons. However, they soon realized that there was no sustainable model to monetize that idea."We didn't know how the hell we would do it. We honestly didn't know what it would really do. But that kind of kickstarted this like crazy, I want to say almost manic, sense of like, 'Let's just come up with an idea, lock ourselves in our dorm room for a week and like see what we can create.' We came up with, I'm going to be honest with you, the dumbest ideas for the first like month," Gates shared.Gates revealed that they later thought about Phia feeling that the fashion industry lacked innovation. She added:"We're always arguing over clothes. And frankly, like, it's kind of bulls**t that the shopping environment hasn't developed in the last 10 years. Like, how come I'm on a site and I don't know if I should buy an item or not? Why isn't AI able to tell me, 'Hey, this is a good deal or this is not a good deal?' Where's my little shopping assistant? And so, we were like, what if we could create a shopping assistant or a shopping hack," In addition to their AI-based fashion startup, Phoebe Gates and Sophia Kianni also co-host their podcast The Burnouts, where they often invite guests to discuss entrepreneurship.Also read: What is Phoebe Gates’s net worth? Bill Gates’ daughter sparks controversy over alleged $250 haggling scheme