Eterneva

Replacing Caskets with Diamonds

Author

Brett Perlmutter
September 03, 2024

Setting the Scene

  • 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.

In a Sentence

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: Think of Eterneva as the modern day casket, offering an alternative or addition to the traditional memorial by transforming ashes or hair into diamonds, creating a unique, lasting tribute.

The Basics

IN PARTNERSHIP WITH

  • The ARK Venture Fund is taking an asset class once reserved for the accredited, ultra-rich and making it available to all US investors.

  • ARK offers investment exposure to companies like SpaceX, Epic Games, Figure AI, Anthropic, and more! See the portfolio here.

  • You can invest in the ARK Venture Fund (ARKVX) for as little as a $500 minimum initial investment.

  • All U.S. self-directed investors can download the SoFi or Titan app and invest in the ARK Venture Fund (ARKVX) now.

The above button will also contain a prospectus and fund risks. Foreside Fund Services, LLC, distributor.*

Due Diligence

WHAT WE LIKE

  • 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.

POTENTIAL RISKS

  • 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.

Founder Profile

To request an introduction to the founder, respond to this email.

Comps

Why Eterneva: 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.

Event Board

  • Bulletpitch B2B SaaS Dinner NYC: On September 17th, we are hosting a dinner in NYC for B2B SaaS founders and funders. Apply HERE.

Cast Your Vote

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Last Week Today

  • The Results Are In: Augie, a company that provides a free secured credit card enabling users to build credit history with every payment, was favored in last week’s poll.

  • Subscriber Feedback: “While a great service, I’d like to see a clear path for graduating with their customer.”