Lab-grown diamonds (LGD) producer LUSIX has just completed a $90 million investment round led by several high-profile players, including LVMH Luxury Ventures, Ragnar Crossover Fund, and More Investments.
“We are thrilled and proud to welcome such high-profile investors, most notably LVMH Luxury Ventures, bringing their financial support and valuable industry insights,” said Benny Landa, LUSIX founder and chairman.
“Their help will contribute greatly to our company’s success while the implications of this investment, both for LUSIX and for the lab-grown diamond segment, are profound – and so exciting!”
Landa originally founded LUSIX as a subsidiary of Landa Group’s science innovation and incubation platform, Landa Labs.
In 2016, LUSIX was spun-off as a separate entity with a robust research and development foundation and an experienced team of experts, led by co-founder and current Chief Technology Officer Dr. Yossi Yayon.
With the new round of funding under its belt, LUSIX plans to fuel its growth initiatives, notably the expansion of its production capacity in Israel, which will be its second 100% solar-powered state-of-the-art facility, this summer.
The new facility will enable the lab-grown diamond producer to better serve the increasing demand for LGD from its clients worldwide as well as the overall industry.
The news follows LUSIX’s years of efforts toward fostering sustainable growing practices, which include its solar-powered diamond-producing facilities that have been audited entirely and its mission toward perfection and quality.