Israeli lab-grown diamond producer LUSIX on Friday announced the closing of a $90 million Series B funding round to expand its production capabilities, including the development of a second state-of-the-art, fully-oil-powered facility. 100% solar powered, which will begin production later this summer.
The round was led by investment firms LVMH Luxury Ventures, Ragnar Crossover Fund and More Investment House.
LUSIX’s new facility will serve to better meet the growing demands for synthetic diamonds (LGD) from its global customers and the industry as a whole. Additionally, the solar-powered facility will reflect the company’s leadership in integrating sustainability into production operations.
Founded in 2016 by Benny Landa and CTO Dr. Yossi Yayon, LUSIX grows and offers lab-grown and custom-shaped 1-5 carat rough diamonds for various industrial applications. Its diamonds are certified by the International Gemological Institute, and the company has become a benchmark among LGD producers for its proprietary in-house scientific expertise regarding the diamond growing process.
LUSIX is part of the Landa Group, a holding company dedicated to disrupting major industries with breakthrough technologies. It employs over 1,200 people and includes Landa Labs, Landa Digital Printing, Landa Fund and Landa Ventures.
“We are delighted and proud to welcome such prestigious investors, including LVMH Luxury Ventures, who are providing their financial support and valuable industry knowledge,” said Benny Landa, Founder and Chairman of LUSIX. “Their assistance will go a long way towards the success of our business, while the implications of this investment, both for LUSIX and for the synthetic diamond segment, are profound and so exciting!”
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