Israel-based lab-grown diamond producer LUSIX said that high-profile investors, including LVMH Luxury Ventures, Ragnar Crossover Fund and More Investments, have completed an investment round of $90 million.
The company will use this investment to fuel its growth initiatives, notably the expansion of its production capacity in Israel with a second 100% solar-powered state-of-the-art facility, which will commence production this summer. The new facility will enable LUSIX to better serve the increasing demand for LGD, from its clients worldwide and from the overall industry. 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!”