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

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Rehovot-primarily based LUSIX claimed that it will use the resources to increase output capacity in Israel with a next 100% photo voltaic-run facility, which will start output this summer season, as effectively as other initiatives. The new facility will enable LUSIX to provide growing globally desire for LGD.

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LUSIX was launched by serial entrepreneur and inventor Benny Landa, within Landa Labs, the science innovation and incubation system of the Landa Group. LUSIX was spun-off in 2016 as a different enterprise all over cofounder and CTO Dr. Yossi Yayon.

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Above the several years, LUSIX has turn out to be a globe chief in the diamond expanding system and its innovation and sustainability.

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Landa, stated: “We are thrilled and very pleased to welcome these types of substantial-profile buyers, most notably LVMH Luxurious Ventures, bringing their financial aid and useful market insights. Their aid will contribute considerably to our company’s good results when the implications of this investment decision, both for LUSIX and for the lab-grown diamond phase, are profound – and so exciting!”

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Published by Globes, Israel enterprise information – en.globes.co.il – on June 10, 2022.

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© Copyright of Globes Publisher Itonut (1983) Ltd., 2022.

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