Eterneva Announces $10 Million Series A to Further Invest in Diamond Journey Experience

Consumer technology pioneer Eterneva announced the end of a brand new oversubscribed $10 Million Series A funding round this week.

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Business Wire, Inc.Business Wire, Inc.
Retrieved on: 
Tuesday, July 27, 2021
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Retail, Luxury, Technology, Other Retail, Other Technology, Specialty, Minerals, Crystallography, Materials, Death customs, Economic geology, Emotions, Grief, Undertaking, Mourning, Diamond
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United States, Texas
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ETERNEVA
Summary
Key Points: 
  • Consumer technology pioneer Eterneva announced the end of a brand new oversubscribed $10 Million Series A funding round this week.
  • Eterneva families have already remarked that Eterneva's diamond process helps them transform acute grief into acceptance, and mourning into a celebration of life."
  • Eterneva also plans to use the funds from this round to continue pushing the diamond journey experience forward, including funeral home and pet aftercare channel programs going nationwide.
  • Beyond providing a beautiful way to memorialize, Eterneva provides a participatory experience around the diamond creation journey - designed to bring grievers brightness and healing.


Consumer technology pioneer Eterneva announced the end of a brand new oversubscribed $10 Million Series A funding round this week. This round was led by Tiger Management, and attracted co-investments from NextCoast Ventures, Mark Cuban, Goldwater Capital, and Capstar Ventures.

Eterneva Co-Founder and CEO Adelle Archer had this to say: "This round will go towards raising broader awareness of this special option so families can make empowered choices and scaling Eterneva's operations and channels to keep pace with outsized demand. Eterneva families have already remarked that Eterneva's diamond process helps them transform acute grief into acceptance, and mourning into a celebration of life."

Archer also said of future plans, “We will also be investing in taking the Eterneva diamond journey experience to a whole new level, scaling our funeral home channel program nationwide, and scaling our operations and capacity in Austin to keep pace with rapidly growing demand.”

Co-investor Mark Cuban spoke to TechCrunch about the potential Eterneva represents for investors: “Eterneva takes a very emotional and difficult [time] and helps people walk through their journey in a trusted way that I don’t think anyone else can come close to. [This product is] a unique, socially responsible way to stay connected to loved ones. There is still so much upside and growth in their future, so I doubled down.”

Eterneva also plans to use the funds from this round to continue pushing the diamond journey experience forward, including funeral home and pet aftercare channel programs going nationwide. A key part of Eterneva’s success is appealing to younger generations. Since Q4 2020 15 videos have gone viral on TikTok garnering between 500k-7M+ organic views.

About Eterneva:

Eterneva is a consumer technology and grief wellness brand that reimagines the experience around loss by making diamonds from ashes or hair. Beyond providing a beautiful way to memorialize, Eterneva provides a participatory experience around the diamond creation journey - designed to bring grievers brightness and healing. According to research by Baylor University, 82% of people said the Eterneva experience positively helped their grief. Eterneva is based in Austin, Texas, and was featured on both Inc and Forbes 30 Under 30 and on Shark Tank, receiving investment from Mark Cuban. To learn more visit eterneva.com, hear from customers at Eterneva reviews, or read up on the science behind turning ashes to diamonds.

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