This special section marks the launch of the annual Startups to Watch list, a collection of startups New Mexico Inno will keep an eye on in the next 12 months.
The list of 10 honorees includes businesses in various sectors — sustainable energy, health care and mobile communications, to name a few. Our Startups to Watch are trying to use data to identify the “social determinants of health” and deploy space-mining technology.
Like New Mexico’s broader startup ecosystem, one industry or vertical isn’t responsible for the majority of the startups we are watching. Generally, each company has raised funding and is in the process of developing or commercializing technology.
Startups to Watch honorees were selected by New Mexico Inno reporter Collin Krabbe, who, when considering each honoree, looked at how the businesses performed in 2021, as well as what they have planned in 2022.
In the coming days, you will have a chance to read about each startup online and see the work they are doing to grow their businesses in New Mexico and beyond. All 10 companies were also highlighted in the Feb. 4 print edition of Albuquerque Business First.
Next up, Parting Stone.
Parting Stone
Spurred by loss, so-called “death-tech” startup Parting Stone is proving that its product — a high-tech alternative to cremation — is in demand.
The company was founded in 2019 and recently moved into a new 8,000-square-foot facility in Santa Fe where it will boost production capacity. It sells handheld “stones” which are made from human ashes and a binding agent.
The solidification process costs $695 for humans (dog remains can also be preserved) and yields 40 to 60 “solids,” according to the company.
Founder Justin Crowe developed the business after losing his grandfather. He teamed up with Chris Chen, a ceramic engineer at Los Alamos National Laboratory. Chen and his team made recommendations that enabled Parting Stone to develop a process to superheat remains.
“One of the biggest things was what percentage of people were going to choose solidified remains over cremated remains,” Crowe said. As it turns out, about 5% are choosing solidified remains, he said. And with thousands of funeral homes in the U.S., Parting Stone sees room to grow.
Parting Stone’s Santa Fe facility is located near the intersection of Interstate 25 and Cerrillos Road. The company hopes to grow a workforce of 80 to 100 people over the next three years. As of January, it employed 22 people, up from eight in 2021.
Parting Stone plans to invest about $1 million in new equipment, renovations and hiring, Crowe said. So far, they have raised $2 million in funding and saw a year-over-year revenue increase of 135% in 2021, he said.
