Eterneva Net Worth – What happened after Shark Tank?

What is Eterneva?

Turning loved one’s ashes into diamonds

The five-year-old startup specializes in memorializing loved ones by turning their ashes into diamonds so that they will always be with you.

The diamonds can be customized in various ways, dependent on what the customer wants. They focus on making them personalized to the individual being remembered.

Additionally, Eterneva do not just make diamonds for humans, it is available for beloved pets who have passed away too.

What is Eterneva’s Net Worth?

Company Name

Eterneva

Owners

Adelle Archer and Garrett Ozar

Shark

Mark Cuban

Equity

9%

Investment

$600,000

Location

Austin, Texas

Net worth

$4 million

Who is The Owner of Eterneva?

Adelle Archer and Garrett Ozar are the founders of Eterneva.

They worked together at a company known as BigCommerce and soon ventured out together to start their own business, Eterneva.

The idea came from wanting to memorialize a coworker they had just lost. At the time, Archer was working for a diamond startup and had therefore had the connection to start the business.

For a large price, the company ships the cremated ashes to a diamond lab in Amsterdam. It is a process that takes around 8 months which can then be customized by the customer.

Why is Eterneva So Popular?

Eterneva allows you to keep your late loved ones close in a positive and beautiful way.

As Cuban has mentioned, Eterneva takes a very difficult and emotional time and makes it worthwhile. Helping people walk through their journey in a safe and trusted way, which many people do not get the opportunity to do.

Additionally, diamonds have numerous benefits on their own. Starting with being imperishable, they induce positive energy onto the customer, and they can be worn forever, keeping loved ones always close by.

Shark Tank Appearance – Did It Go Through?

Adelle and Garrett enter the tank seeking an investment of $600,000 for 5% equity.

During their first year of actively selling, the business generated $913,000 in sales and $2 million raised from other investors.

The sharks seem skeptical with this information; however, they begin to get some offers. Seeing the bigger picture and sentiment behind the business, Mark Cuban makes a deal with Eterneva’s founders for $600,000 for 9% equity.

Cuban says that “it is a unique and socially responsible way to stay connected to loved ones”.

Where is Eterneva Today?

After Eterneva appeared on the Tank, the company had generated over $10 million in venture capital.

The business plans to use the money generated to scale-up its operations by opening a diamond lab in Austin so they can keep up with the demand.

This is also to scale their funeral home program, Archer mentions that customers do not want traditional funerals anymore, they want personalization and meaning.

Conclusion

Adelle Archer is now part of the minority when it comes to female CEOs to raise a larger venture round.

Eterneva is also the second end-of-life company to raise $10 million round.

It is safe to say that Eterneva is doing amazing things in the end-of-life space, and it is only just beginning from here.