5 DeathTech startups: innovation in the funeral sector

The current global health crisis due to the COVID-19 pandemic has caused the collapse of some industries, such as the funeral industry, which was completely overwhelmed by the increase in deaths from the virus.The funeral sector has been one of the most affected by COVID-19, which has caused extraordinary measures to be taken to celebrate burials and funerals, and an avalanche of launches and changes of direction in companies in the sector, which were trying to adapt in the shortest possible time. Faced with this situation, there is an obvious increased interest in innovation in the funeral industry, known as the DeathTech sector. Currently, many investors are focusing their moves on startups in this area, which are expected to place even more emphasis on product quality and customer experience. trends What are currently being adopted the most are those related to digitization of funeral management and other post-mortem management. Below, we analyze five companies that represent both.

Eterneva

Eterneva It is a startup that Turn the ashes or hair of loved ones (people or pets) In diamonds. They allow us to choose the color and engrave the name on the edge of the diamond, so that we can customize it to our liking to better represent what we want. Diamonds that are made from hair and ashes are real diamonds, which are created through the carbon extracted from them. For the creation of the diamond, no matter how long the ashes are, they can be recent or years old, and the same thing happens with hair. The company generated 913,000 dollars in sales in its first year of life and in September 2020 it raised five million dollars.

Farewill

Farewill is a UK startup that provides a platform for people draw up wills online where to bequeath their estate, including the election of guardians for dependents and the selection of the executors of the last wishes; Organize inheritance services and Prepare funerals: from a simple service at your local crematorium to a family reunion by the sea. The platform is currently only available in the United Kingdom, but in the long term it has plans to expand to more countries. In the five years it has been operating, the startup has become the largest writer of wills in the country: it represents one in every 10 wills written. In July 2020, it raised 22.1 million euros.

Everdays

Everdays It is an app that allows Buy our own funeral online in a matter of minutes to ensure the peace of mind of our loved ones once the time has come. They have created three easy-to-understand funeral packages so that it is possible to choose the way in which we want our family to say goodbye to us, helping them to overcome difficult times after our departure. The platform makes it easy invite all family and friends to events and services held in honor of a deceased loved one. Everyone receives their own personalized invitation via text message, with just one click, and has the option to respond to it. This way, loved ones get all the details of the service they need, without the stress of contacting each person one at a time. In January 2020, the startup announced a Series A funding round of 12 million dollars, raising its valuation to almost 100 million dollars.

I Leave

I Leave It is a mobile application born in Spain that allows organize one's own funeral and create a social will, drafting personalized dedications and requests for your loved ones. The application allows the user to add all their requests or wishes, including attaching photographs. In this way, once the user dies, the designated trusted persons named by the user enter the time of death and the cause of death (optional) into the app and indicate the time and place where the funeral will take place. This activates the protocol for sending the notification to the contact list that the deceased has created. Along with the funeral data, it is possible to send personalized dedications written in advance by the user to all the people he has included in the social will. The startup guarantees the maximum information security, which is stored in the cloud, and ensures that none of the confidants has access to the data in the lists of people or dedications. In addition, the application also allows unsubscribe from social networks, report users and passwords in the request or detail where important documents are located in physical format at home.

Closure

Closure, based in the Netherlands, offers one of the most innovative technological solutions in post-mortem management. Founded in 2017, the startup offers a service to stop a deceased person's subscriptions, contracts and accounts.The process is simple and intuitive:

• The organizations that you want to notify about the termination or acquisition of a contract are selected.
• The data of the deceased person is filled in.
• The platform informs all organizations and keeps the user updated through the email address provided.

The service allows you to both cancel and take charge of any subscription (for example, Netflix), bill (such as electricity or water) or account (such as bank account). Social media accounts are also included. In order to use the Closure service, the company only requires that the personal data of the deceased and a death certificate be submitted, something usually granted by the funeral home. Otherwise, it's also available in the municipality where the person died.