Ep 14: Peter Russell (Reterniti) on building a company in Death tech, working for free for 3 years, and nailing his Equity crowdfund
In this episode of The Funding Files we interview Peter Russell, founder of Reterniti, a company creating stones from cremated ashes so no pet or person is ever forgotten. Russell shares that the idea came from a deeply personal experience with his dog, Hogan, whose ashes were buried under a rock later built over by a council toilet block. Frustrated by how ashes are typically handled, Russell set out to innovate within the slow-moving “death care” industry, working with Callaghan Innovation to develop a patented process that solidifies ashes into beautiful stones. The company aims to reframe how people connect with death and memory, offering an alternative to traditional urns or burials.Russell explains that they began with pets before naturally expanding to human use, as customers recognized the emotional value of the product. The stones have become a way for people to keep, carry, or even place their loved ones in significant locations. Operating first in New Zealand, the company has since launched in Australia, where it’s establishing local manufacturing to avoid cross-border transport of ashes, which is a key consumer concern. With growing international interest, particularly from the UK, Europe, and the US, Russell sees massive global potential. To fund this expansion, they have moved from being self-funded to welcoming a private investor and are now raising capital through equity crowdfunding on PledgeMe. They have already raised their minimum goal, and have 5 days left to hit their maximum here: https://www.pledgeme.co.nz/investments/624-reterniti-holdings-ltdDiscussing lessons from his funding journey, Russell reflects on the challenges of financing a physical product in a market dominated by digital and AI ventures. He emphasizes the importance of perseverance, careful financial planning, and resilience, sharing how he went unpaid for three years while building the company. He attributes the company’s success to clear storytelling, strong intellectual property protection, and meaningful customer engagement. Looking ahead, Reterniti plans to scale operations in Australia before expanding to North America and Europe. His key advice to founders: ensure personal financial stability, expect the journey to take longer than planned, and pursue the vision wholeheartedly — so you never “die wondering.”-- Kia ora and welcome everyone to THE FUNDING FILES, where we explore the highs, lows and cashflows of funding a business in Aotearoa New Zealand. Huge thanks to the founders for sharing their stories, to our board for inspiring us to make this pod, and to Rory Harnden for making our design and intro string.
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