'Death Tech' Is a Lucrative Industry Worth $126B: 7 Startups To Watch

The death tech sector, a burgeoning industry valued at over £100 billion, caters to life's inevitable end. This massive and ever-expanding market offers services that help us prepare for the worst and extend support in the aftermath. Death was a largely unaddressed area five years ago compared to booming sectors like healthcare. However, the tides have turned, and Deathtech is now experiencing a "new lease on life."

The deathcare landscape is transforming, with a wave of startups offering innovative solutions to age-old problems surrounding end-of-life planning, funerals, and asset management.

Going beyond functionality, these companies address the emotional weight of this challenging time, intending to make the end-of-life journey smoother, more affordable, and less intimidating for all involved. Now, let's explore the Top 10 DeathTech Startups of 2023!

Plotbox

PlotBox is a cloud-based software solution for cemeteries, crematories, and funeral homes. It integrates cemetery management software with mapping technology to create a unique and powerful solution for the deathcare industry.

This innovation helps deathcare facilities find unknown inventory, identify risks, and improve operational efficiency by up to 80 percent, according to a report by TechRound. With a global presence and a focus on customer service, PlotBox is transforming how deathcare businesses operate.

Storyworth

Storyworth, founded in 2012, empowers families to preserve and share precious memories. Inspired by the desire to capture Nick Baum's father's stories, the platform offers weekly prompts to guide users in recording their experiences.

These cherished memories can be shared with loved ones to foster connection and understanding across generations. Storyworth's library of prompts and its ability to compile stories into a tangible book provide a valuable tool for families to connect with their past and build lasting bonds.

Tomorrow Biostasis

Tomorrow Biostasis, founded in 2019 by Dr. Emil Kendziorra, is a German death tech company at the forefront of biostasis research. It offers cryopreservation, a controversial process that freezes people after legal death in the hope of future revival.

Tomorrow Bio suggests advancements in science may one day allow for resuscitation, essentially offering a chance to cheat death. They actively invest in research and development, improving cryoprotectant solutions, field procedures, and the entire cryopreservation process.

The company also focuses on democratising cryopreservation by reducing its cost. Currently, the high price tag limits accessibility. Tomorrow Bios hopes to make this technology more affordable for a wider range of people by raising awareness and making the process more mainstream.

Settld

Settld, a pioneering bereavement notification service launched in 2023, is helping families navigate the complex aftermath of a loved one's passing. This free, nationwide service streamlines the often-overwhelming task of notifying banks, utilities, social media providers, and more – all in one go.

Settld allows users to manage account closures and transfers and obtain probate-critical date-of-death balances. Founded by Vicky Wilson after a personal experience highlighted the inefficiency of traditional methods, Settld offers a user-friendly online platform accessible 24/7.

Communication with service providers is centralised and tracked on a secure dashboard, providing peace of mind and real-time updates. Settld's B2B solution further enhances operational efficiency for businesses with a bespoke online portal.

Customers consistently praise Settld's one-stop-shop approach and automated service, with the dedicated customer service team ensuring a smooth and stress-free experience. "We have made incredible progress over the last year with a small, dedicated team. We are proud to be making a substantial, positive difference to the lives of our bereaved customers," Wilson said.

Zenplans

Zenplans is a software solution for professionals like accountants, financial advisors, and solicitors. It empowers them to create secure digital estate plans for their clients.

Fueled by the challenges of our increasingly paperless society and ever-growing digital footprints, Zenplans focuses on tackling modern estate planning and probate complexities.

Stephen Moses (founder) was inspired to create Zenplans while helping his father organise his affairs. The difficulty of consolidating information, even in this collaborative scenario, highlighted the overwhelming burden placed on those who lose a loved one without a clear plan.

Zenplans was born from the need to address the growing risk that vital information will become inaccessible to executors and beneficiaries without proper planning.

Exizent

Exizent is a purpose-driven tech company founded in 2019 by Nick Cousins and Aleks Tomczyk. The company is transforming the bereavement experience for everyone involved. Drawing inspiration from their encounters with loss, the founders saw an opportunity to leverage technology in this digital age to streamline a traditionally cumbersome process.

Real estate administration is an arduous, lengthy, complex, and emotionally draining process. Exizent's cloud-based platform tackles these challenges by digitising the entire process. Professionals can efficiently manage cases, gather information, upload documents, and utilise data searches to expedite tasks and generate essential documents like court forms.

The company extends its positive impact to institutions like banks, allowing them to offer a smoother experience for those notifying them of a death. Exizent fosters collaboration between legal professionals, institutions, and executors by connecting various data points and services.

In just two years, Exizent has become a crucial player in the deathcare landscape. Their technology minimises uncertainty, streamlines case resolution, and makes the entire process more manageable, allowing those grieving to focus on healing.

Farewill

Farewill, launched in 2015, is revolutionising how people approach death planning. Their user-friendly online platform simplifies and expedites creating a legal will. Backed by a team of legal experts, Farewill has already written over 30,000 wills, making them the UK's leading will writer.

Co-founder Dan Garrett developed the company through his experience working with nursing homes. He observed a societal discomfort surrounding the topic of death. Farewill aims to bridge this gap by offering affordable, accessible, and straightforward wills, empowering individuals to take control of their end-of-life wishes.

Farewell has impressive investor backing, which includes prominent figures like Errol Damelin and Alex Chesterman. By the end of 2019, they were projected to handle 10 percent of all wills written in the UK, solidifying their position as a deathcare leader.

The deathcare landscape is transforming, with innovative startups emerging to address previously unaddressed challenges. Capsula Mundi, AssetVault, and Guardian Angel are some of the other key players to watch.

Technological advancements like artificial intelligence (AI) impact both sides of the life cycle: alleviating grief after loss and potentially extending lifespans. For example, an Australian doctor's innovative treatment, based on his research, has reportedly kept him cancer-free for a year.