2024-09-03
Eterneva
www.eterneva.comHeadquarters
Austin, Texas
Employee Count
30
Year Founded
2018
Amount raised
$17.9M after most recent Series A extension round
Business model
Direct-to-consumer (DTC) sales and channel partnerships
Early traction
Projecting $11M in revenue this year, exclusive partnership with SCI, distribution with 2M followers on TikTok and over 300M views across platforms.
Investors
The death care industry has seen little innovation for decades, relying on impersonal methods of memorialization.
Traditional burials are losing favor as there is a lack of optionality beyond caskets, graves, and urns.
As a result, there’s an increasing demand for more meaningful ways to honor loved ones.
This week’s company offers a unique and modern approach to memorialization.
Eterneva enables customers to celebrate the lives of loved ones who have passed away by transforming a small portion of their ashes or hair into diamonds.
Celebrate: Eterneva helps customers through their grief by involving them in a technology-enabled journey, from placing ashes in a special capsule to providing photo and video updates of the diamond’s progress.
Transform: The company extracts carbon from the ashes to create custom, high-quality diamonds, providing a physical and lasting memento.
Bulleted Version
Market Opportunity: The deathcare industry is a $20B market that’s seen little innovation for decades.
Trends: With 60% of Americans choosing cremation, expected to rise to 80% by 2040, there’s an increasing demand for personalized memorial options like Eterneva’s diamonds.
Additionally, Baylor University study found that 82% of respondents grieved better with Eterneva’s process.
Channel Partnerships: Eterneva’s exclusive partnership with Service Corporation International (SCI), the largest player in the funeral industry, significantly expands its market reach and allows them to effectively upsell their products as modern alternatives to traditional caskets.
Cultural Acceptance: Cultures have various attitudes towards death and memorialization, so Eterneva must navigate these differences and tailor their marketing strategies to ensure appeal across diverse demographics.
Ethical Concerns: Handling human and pet ashes involves ethical considerations that need to be addressed sensitively.
Non-Recurring: While Eterneva has great distribution, repeat purchasers, strong referrals, and distribution, their revenue model operates on a non-recurring basis constantly putting pressure on acquiring new customers.
WhyEterneva
By turning ashes into diamonds using innovative technology, Eterneva is set to be the gem of the death care industry as it revolutionizes traditional burials.
*Nothing in this content constitutes investment or legal advice. Conduct independent diligence and consult professional advisers before making investment decisions.*
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