Eterneva Shark Tank Update | Eterneva Net Worth

Eterneva, which appeared on Season 11 of Shark Tank, is a luxury goods and jewelry company with product offerings. Founded in 2016 by Adelle Archer and Garrett Ozar, the company specializes in transforming cremation ashes or hair into diamonds, creating a timeless and valuable memento.

The diamonds can be made from the ashes of any human or pet, making it an endearing solution for those seeking a way to memorialize a loved one. The process of creating these diamonds is scientifically rigorous and profoundly emotional.

Eterneva sends a starter kit to customers, in which the ashes or hair are collected and sent to their laboratory. The company needs approximately 1/2 cup of the person’s ashes or hair, and the starting price for this service is $2999.

This process takes about eight to ten months as the organic materials are compressed under high heat and pressure to form diamonds. The result is a precious gem, a tangible and everlasting memory of a loved one. 

Eterneva can produce diamonds in different colors and can provide diamonds up to 3 carats, with the cost of a 3-carat diamond being $50,000. This allows customers to personalize their memorial based on their preferences or the preferences of their loved ones. 

Eterneva offers a way to commemorate a remarkable life, making it a great option for many. The creation of diamonds from the remains of a loved one is a testament to the longevity of their memory and a physical reminder of their impact.

It also provides an alternative memorialization for those seeking something different from traditional methods. 

The company’s founders and employees handle each piece with the utmost respect and care, honoring the lives that they are tasked to memorialize. This sense of dedication and respect for their customers adds another layer of appeal to their services.

Eterneva’s service is personal and deeply meaningful. It is a way to keep the memory of a loved one close and tangible by turning ashes into diamonds. Their work’s blend of science, art, and emotion makes it a compelling choice for those searching for a memorable keepsake.

Company NameEterneva
FounderAdelle Archer and Garrett Ozar
BusinessThe process of turning ashes into diamonds
Investment Seeking$600,000 for 5% equity in Eterneva
Final Deal$600,000 for 9% equity in Eterneva
SharkMark Cuban
Episode Season 11, Episode 3 
Business StatusIn Business
WebsiteEterneva Website
Net Worth$10 Million

What Is Eterneva?

Eterneva is a company that specializes in transforming cremated ashes into diamonds. They offer personalized ways to memorialize loved ones by creating lab-grown diamonds from the carbon extracted from their ashes.

Eterneva’s process involves taking a small portion of the cremated remains and subjecting it to extreme heat and pressure, replicating the natural diamond formation process.

The resulting diamonds can be customized in cut, color, and carat and set into rings, pendants, or earrings. Eterneva aims to provide a meaningful and lasting tribute to those who have passed away, allowing their memory to live on as a beautiful diamond.

Eterneva Shark Tank Update | Eterneva Net Worth

Eterneva aims to redefine the concept of memorialization by transforming cremated ashes into diamonds. Their process begins by working closely with families who have lost a loved one.

Eterneva offers a personalized approach, providing support and guidance throughout the journey. The cremated ashes are collected and sent to Eterneva’s laboratory after a family chooses to work with them.

Eterneva’s team of experts then extracts the carbon from the ashes. The extracted carbon is purified and prepared for the diamond-growing process. To create the diamonds, Eterneva uses a technology called chemical vapor deposition (CVD).

Carbon is subjected to intense pressure and heat in a controlled environment to replicate the natural process by which diamonds are formed deep in the Earth’s crust. Over time, layer by layer, the carbon atoms bond together and form a diamond crystal lattice structure.

Eterneva updates the family throughout the growth process, allowing them to witness the transformation from carbon to diamond. The final result is a unique and beautiful lab-grown diamond that can be customized according to the family’s preferences.

Eterneva offers options for cut, color, and carat size, ensuring that each diamond is as special as the individual it represents. Once the diamond is created, it can be set into a piece of jewelry of the family’s choice, such as a ring, pendant, or earrings.

Eterneva works with skilled jewelers to ensure the setting showcases the diamond meaningfully. Eterneva aims to provide comfort and solace to those grieving by offering a tangible and lasting connection to their loved ones. They offer a way to honor and remember loved ones by transforming ashes into diamonds.

Who Is The Founder Of Eterneva?

Eterneva, a personal jewelry business, was founded by Adelle Archer and Garrett Ozar in 2016. Archer and Ozar are residents of Austin, Texas, and their idea for Eterneva was born from a deeply personal experience.

Archer is an accomplished entrepreneur, having completed her MBA from Acton School of Business and held significant positions in several companies, including her role as Head of Product Marketing at TrendKite. 

Garrett Ozar has also had an impressive career, serving as a sales manager for multiple notable US companies like American Golf Corporation, Golfnow, RockSolid, and Bigcommerce, before taking up his role as the co-founder and chief strategy officer of Eterneva.

Eterneva was conceived following the loss of Archer’s mentor, Tracey, a Vice President at a startup technology company and an important figure in Archer’s life. Tracey’s will included a portion of her ashes, sparking Archer’s quest for a meaningful way to remember her.

Inspired by an inside joke about black diamonds symbolizing their business challenges, Archer turned the ashes into a diamond. However, the process and service provided by the company she used left her questioning the authenticity and sincerity of the process.

She felt a lack of respect and empathy in how they handled the ashes, prompting her to delve deeper into the ‘ashes to diamond’ industry. This journey led to the creation of Eterneva Diamonds in 2017.

Co-founded by Archer and Ozar, the company aimed to address the lack of empathy she experienced in the industry by providing a delicate and respectful service.

They partnered with a diamond lab in Amsterdam, where for around $7,000, one’s ashes could be transformed into a 0.5-carat diamond over eight months.

Before their appearance on Shark Tank, Eterneva Diamonds had already made significant strides. They had a successful first year, generating $913,000 in sales and projections of nearly $2 million by 2019.

The company was making waves in the industry, with Archer believing their business was more personal and empathetic than competitors, offering memorial jewelry for human and pet ashes.

Their desire to expand and open a lab for diamond growing led them to seek investment in Shark Tank, marking the next big step for the company.

How Was The Shark Tank Pitch Of Eterneva?

The Shark Tank pitch by Eterneva, a company that transforms cremation ashes into diamonds, was delivered by its co-founders, Adelle Archer and Garrett Ozar.

The company’s compassionate approach to the memorial diamond market was intended to bring a refreshing and respectful change to the industry.

The co-founders asked for an investment of $600,000 in exchange for 5% equity in the business, valuing Eterneva at $12 million.

They presented their idea to the Sharks, explained the backstory, how the company was born out of Adelle’s personal experience, and the struggle she faced while trying to make a memorial diamond.

They expressed the lack of empathy they experienced in the industry and their mission to rectify this through Eterneva.

Their pitch intrigued most of the Sharks; however, the revelation that Eterneva already had a significant investor base and was quite successful led to some reservations.

Kevin O’Leary was concerned about the technological side of the business, questioning its uniqueness given that anyone could buy a machine and start a similar operation. His concerns led him to step back from investing. 

Similarly, Daymond John was put off by the company’s already-established success. He felt they were taking the investment opportunity away from someone who might need it more, which led him to withdraw his interest.

This left Mark Cuban and Robert Herjavec. Mark stepped up and offered the $600,000 they were seeking but asked for a 9% equity stake in the company, higher than the initial 5% equity proposed.

Adelle and Garrett attempted to negotiate the equity percentage, but Mark was firm on his terms. Seeing the value in Mark’s offer and his potential as a strategic partner, Adelle and Garrett accepted his deal.

In a follow-up interview after the Shark Tank episode, Adelle expressed that the show had been a significant platform for Eterneva, with 14% of their customers hearing about the company for the first time on Shark Tank. The deal with Mark did go through, and Adelle shared that he had been a supportive and involved partner. 

Post-Shark Tank, Eterneva continued to grow and expand, opening facilities in Switzerland and Germany and partnering with Baylor University for grief research.

The investment and exposure from the show have certainly played a role in enabling Eterneva to achieve these milestones and continue its mission of providing a more caring customer experience for those grieving the loss of a loved one.

What Happened To Eterneva After Shark Tank?

Following their appearance on Shark Tank, Eterneva and its business saw a significant boost. Adelle Archer, one of the co-founders, shared that 14% of their customers heard about the company for the first time on Shark Tank. The investment and visibility from the show had a substantial impact on the business.

After its Shark Tank appearance, the company faced controversy when a gemologist claimed that Eterneva was a scam. Mark Cuban, their Shark Tank investor, defended the company effectively.

Eterneva then conducted a public study at TDI-Brooks Analytical and Chemistry Lab to validate their processes. After the cremation, the study confirmed enough carbon to turn ashes into diamonds, dispelling the scam accusations.

The company was able to leverage its visibility and continued to grow. Eterneva expanded its facilities beyond its original Amsterdam location, opening labs in Germany and Switzerland.

They also partnered with Baylor University to conduct grief research, which aligns with the empathetic approach to business that the company has always advocated.

Regarding financial growth, Eterneva successfully raised a venture capital of $10 million in 2021. The company earned $7 million from sales, which signifies a significant financial success and validates the business model they presented on Shark Tank. 

On the communication front, both Adelle and Garrett remain active on social media platforms, frequently posting on the Eterneva Diamonds Instagram account and interacting on their LinkedIn accounts. 

Eterneva continues to stay true to its mission of providing compassionate and respectful service to people dealing with the loss of loved ones, now with an extended scope that also includes pets.

The company is more personal and empathetic than many competitors, staying true to Adelle Archer and Garrett Ozar’s vision on Shark Tank.

Eterneva Shark Tank Update

After Eterneva’s appearance on Shark Tank Season 11, where they secured a deal with Mark Cuban for $600,000 in exchange for 9% equity, the company experienced significant growth and success.

Founded by Adelle Archer and Garrett Ozar, Eterneva specializes in transforming ashes into lab-grown diamonds for remembrance. Post-Shark Tank, Eterneva expanded its operations and facilities, including labs in Switzerland and Germany.

They collaborated with Baylor University for grief research to enhance the customer experience for lost patients. The controversy around their process was addressed through a lab study that affirmed their credibility.

Eterneva Shark Tank Update | Eterneva Net Worth

Financially, Eterneva raised over $10 million in venture capital, with reported sales reaching $7 million. The company extended its services to include pet memorial diamonds and maintained active engagement on platforms like LinkedIn and Instagram.

Eterneva’s empathetic approach to memorialization and its growth trajectory post-Shark Tank underscore its enduring success in creating meaningful connections through personalized diamonds crafted from ashes.

Is Eterneva Still In Business?

Our research shows that Eterneva is indeed still in business. Established in 2016, the company transforms ashes into diamonds using technology. It has garnered significant attention and funding, including a Series A round of $2.3 million in November 2022.

Despite being unprofitable, Eterneva continues to grow and expand its operations, focusing on enhancing customer experiences and preparing for future funding rounds.

The company has gained recognition by appearing on platforms like “Shark Tank” and using social media, including TikTok, for exposure. Eterneva continues to serve hundreds of customers, providing a unique and meaningful way to remember loved ones.

What Is the Net Worth Of Eterneva?

According to our research, the net worth of Eterneva is estimated to be above $10 million. The valuation of Eterneva was $6.66 million after securing an investment from Mark Cuban on Shark Tank.

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