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

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Israeli lab-developed diamonds (LGD) producer LUSIX has declared the completion of a $90 million funding spherical from LVMH Luxurious Ventures, Ragnar Crossover Fund and Additional Investments.

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Rehovot-based LUSIX claimed that it will use the money to expand manufacturing capability in Israel with a 2nd 100% solar-driven facility, which will commence production this summertime, as perfectly as other initiatives. The new facility will permit LUSIX to provide mounting around the world demand for LGD.

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LUSIX was launched by serial entrepreneur and inventor Benny Landa, inside Landa Labs, the science innovation and incubation system of the Landa Team. LUSIX was spun-off in 2016 as a individual enterprise close to cofounder and CTO Dr. Yossi Yayon.

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In excess of the decades, LUSIX has come to be a planet chief in the diamond expanding method and its innovation and sustainability.

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Landa, stated: “We are thrilled and proud to welcome this sort of higher-profile investors, most notably LVMH Luxury Ventures, bringing their economical help and beneficial field insights. Their aid will lead significantly to our company’s accomplishment while the implications of this financial investment, each for LUSIX and for the lab-developed diamond phase, are profound – and so thrilling!”

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Posted by Globes, Israel small business 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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