Benny Landa’s lab grown diamond co LUSIX raises $90m

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Israeli lab-grown diamonds (LGD) producer LUSIX has announced the completion of a $90 million funding round from LVMH Luxury Ventures, Ragnar Crossover Fund and Far more Investments.

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Rehovot-primarily based LUSIX reported that it will use the money to grow manufacturing capacity in Israel with a next 100% solar-driven facility, which will start creation this summer months, as perfectly as other initiatives. The new facility will permit LUSIX to provide soaring all over the world demand for LGD.

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LUSIX was founded by serial entrepreneur and inventor Benny Landa, within just Landa Labs, the science innovation and incubation platform of the Landa Team. LUSIX was spun-off in 2016 as a independent enterprise all over cofounder and CTO Dr. Yossi Yayon.

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More than the a long time, LUSIX has turn out to be a environment chief in the diamond rising approach and its innovation and sustainability.

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Landa, mentioned: “We are thrilled and happy to welcome this sort of superior-profile investors, most notably LVMH Luxurious Ventures, bringing their economical support and useful business insights. Their enable will add enormously to our company’s success when the implications of this expenditure, the two for LUSIX and for the lab-grown diamond phase, are profound – and so exciting!”

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Published by Globes, Israel organization news – en.globes.co.il – on June 10, 2022.

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© Copyright of Globes Publisher Itonut (1983) Ltd., 2022.

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