For a lot of people, precious stones and jewelry are ways to remember family members and other loved ones after they’re gone. Engagement rings that are passed down across generations in a family are one example of this, but they’re far from the only one. Now, a new startup offers its own spin on that concept — and in doing so, they’ve attracted a big-name backer (namely, Mark Cuban) and recently secured $10 million in funding.
The company is called Eterneva, and a recent article at TechCrunch explores their business model, which involves turning the cremated remains or hair of loved ones and pets into diamonds. How you react to that last sentence probably determines how likely you are to become a customer, but the idea is resonating with a growing number of people. According to the outlet, the startup “more than doubled its revenue” in 2020.
At TechCrunch, Mary Ann Azevedo spoke with the company’s co-founder and CEO Adelle Archer. Archer was one of three people to whom her mentor bequeathed her ashes. She was uncertain what to do with them until a scientist working on growing diamonds in a lab mentioned that cremains could be used to create a diamond. Out of that conversation, the idea for the startup was born.
Customers have used the startup for remembrances of family members as well as pets, the latter of which occupy 40% of its business. The article notes that Eterneva has made 1,500 diamonds to date, with prices starting at $2,999. In total, the process takes seven to nine months to reach completion. And while it may not be everyone’s preferred way of remembering someone who has passed on, it’s also not hard to see what’s drawn so many people to it.
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