Austin-based Start-up Eterneva Raises Millions for Its Expansion

There is no definite time to describe when grieving will end. After someone close to our hearts dies, memories are what remains. Many individuals have a hard time coping with grief taking years to move on. Eterneva is a manufacturer of diamonds in the lab from a loved one’s cremated ashes. Lately, it has secured $3 million to help in expansion, the firm has said.

The ash to the diamond company was founded in 2017 by Garrett and Adelle. According to the company, diamonds are extracted after the ashes are put under extreme temperatures and pressure. The company hopes to set up a bigger and more spacious production facility in Austin from the recently acquired funds. It is expected that the new production site will be inaugurated 12 months from now. The Austin-based ash-diamond facility will be able to produce a minimum of 75 diamonds annually.

Some investors taking part in the funding include NextCoast, SoGal, Springdale, Founder Collective, and a few more private investors. The idea of growing diamonds from ashes was born after the passing away of her friend. The diamonds were a perfect way to honor her friend in an effective manner.

Eterneva has grown the number of employees to 17 since its inauguration. Sometimes last year, the startup acquired $1.2 million, which helped in its expansion. The funds also helped the firm relocate to a bigger office in South Austin, complete with a laboratory. When a customer is ready to give out her loved ashes, Eterneva mails them the welcome kits. After shipping back the kits to the diamond lab, customers are given updates through monthly videos and pictures. 7-10 months later, the new diamond memorabilia are handed to the customer. The lab-grown Eternava diamonds range from $3000- $50000.

Similarly, the company has partnered with several funeral homes to offer online dedication pages. This move has helped more people speak more openly about death, particularly with the covid-19 pandemic when people cannot meet up.  Read: