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Israeli lab-grown diamonds (LGD) producer LUSIX has announced the completion of a $90 million financing spherical from LVMH Luxury Ventures, Ragnar Crossover Fund and A lot more Investments.

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Rehovot-centered LUSIX reported that it will use the cash to expand output capability in Israel with a 2nd 100% solar-powered facility, which will start creation this summer, as nicely as other initiatives. The new facility will empower LUSIX to serve rising around the world demand for LGD.

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LUSIX was established by serial entrepreneur and inventor Benny Landa, inside of Landa Labs, the science innovation and incubation platform of the Landa Team. LUSIX was spun-off in 2016 as a different business around cofounder and CTO Dr. Yossi Yayon.

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Around the years, LUSIX has develop into a environment leader in the diamond growing procedure and its innovation and sustainability.

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Landa, claimed: “We are thrilled and happy to welcome these kinds of substantial-profile traders, most notably LVMH Luxury Ventures, bringing their fiscal help and beneficial marketplace insights. Their assist will lead greatly to our company’s success though the implications of this expense, equally for LUSIX and for the lab-grown diamond segment, are profound – and so fascinating!”

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Posted by Globes, Israel business 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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