Lusix secures $90 million investment
Israeli-based lab-grown diamond producer Lusix has completed an investment round of $90 million from high-profile investors, including LVMH Luxury Ventures.
In a news statement, Lusix said that the round was led by the French luxury conglomerate’s investment arm, alongside Ragnar Crossover Fund and investment house More.
Lusix was founded by Benny Landa, within Landa Labs, the science innovation and incubation platform of the Landa Group, and was spun-off in 2016 as a separate business. Lusix has since become a reference among lab-grown diamond producers thanks to its superior growing practices and its externally audited 100% solar-powered diamond growing facilities that solidify the company’s commitment to sustainability.
The company said it will use the funding to fuel its growth initiatives, including the expansion of its production capacity in Israel. In particular, Lusix aims to open a second 100% solar-powered state-of-the-art facility this summer, to enable Lusix to better serve the increasing demand for lab-grown diamonds worldwide.
“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 Landa.
“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.”
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