Israeli lab-developed diamonds (LGD) producer LUSIX has introduced the completion of a $90 million financing spherical from LVMH Luxury Ventures, Ragnar Crossover Fund and Far more Investments.

Rehovot-centered LUSIX said that it will use the cash to expand creation capability in Israel with a second 100% solar-run facility, which will begin production this summertime, as well as other initiatives. The new facility will allow LUSIX to serve rising around the globe demand for LGD.




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LUSIX was established by serial entrepreneur and inventor Benny Landa, within just Landa Labs, the science innovation and incubation system of the Landa Group. LUSIX was spun-off in 2016 as a individual enterprise about cofounder and CTO Dr. Yossi Yayon.

Over the a long time, LUSIX has become a planet chief in the diamond growing method and its innovation and sustainability.

Landa, reported: “We are thrilled and proud to welcome these substantial-profile traders, most notably LVMH Luxury Ventures, bringing their monetary help and beneficial industry insights. Their support will add greatly to our company’s results whilst the implications of this expenditure, both for LUSIX and for the lab-developed diamond phase, are profound – and so enjoyable!”

Published by Globes, Israel business enterprise information – en.globes.co.il – on June 10, 2022.

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