Lab-grown diamond producer Lusix raises 90 million US dollars

Israeli-based lab-grown diamond producer Lusix has completed an investment round of 90 million US dollars involving high-profile investors including LVMH Luxury Ventures.

In a statement, Lusix said that the round was led by the French luxury conglomerate’s investment arm LVMH Luxury Ventures, alongside Israeli’s Ragnar Crossover Fund and investment house More.

The 90 million US dollars funding will be used to fuel its growth initiatives, including the expansion of its production capacity in Israel with a second 100 percent solar-powered state-of-the-art facility, which will commence production this summer.

Lusix, which markets its diamonds under Sun Grown Diamonds branding, said that the new facility would enable it to better serve the increasing demand for lab-grown diamonds from its clients worldwide and from the overall industry.

Commenting on the investment, Lusix founder and chairman, Benny Landa, said: “We are thrilled and proud to welcome such high-profile investors, most notably LVMH Luxury Ventures, bringing their financial support and valuable industry insights.

“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!”