Lusix raises $90 million for lab-grown diamonds, including from LVMH Luxury Ventures
The company, founded by legendary entrepreneur Benny Landa, plans to use the investment to expand its production capacity in Israel with a second 100% solar-powered facility
Israeli startup Lusix, which produces lab-grown diamonds (LGD), announced on Friday that it has completed a $90 million funding round from investors, including LVMH Luxury Ventures, Ragnar Crossover Fund and More Investments.
The company, founded by legendary entrepreneur Benny Landa, plans to use this investment to expand its production capacity in Israel with a second 100% solar-powered facility, which will commence production this summer.
Lusix was founded by Landa within Landa Labs, the science innovation and incubation platform of the Landa Group. Lusix was spun-off in 2016 as a separate business around co-founder and current CTO Dr. Yossi Yayon.
Lusix’s lab grown diamonds (LGDs) are marketed under the Sun Grown DiamondsTM mark, with the company growing custom shaped rough diamonds, including LUSIX Pyramid DiamondsTM, as well as custom-colored rough diamonds.
“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 Founder and Chairman, Benny 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.”