Israeli lab-grown diamond producer LUSIX, announced on Friday the completion of a $90 million Series B round to expand its production capacities, particularly with the development of a second state-of-the-art facility powered entirely by solar energy 100 percent, which will  commence production later this summer. 

The round was led by investment firms LVMH Luxury Ventures, Ragnar Crossover Fund, and More Investment House. 

LUSIX’s new facility will serve to better meet the increasing demands for lab-grown diamonds (LGDs) from both its global clients and the overall industry. Additionally, the solar-powered facility will reflect the company’s leadership in integrating sustainability into production operations. 

Founded in 2016 by Benny Landa and CTO Dr. Yossi Yayon, LUSIX grows and offers 1-5 carat lab-grown and custom-shaped rough diamonds for various industrial applications. Its diamonds are certified by the International Gemological Institute, and the company has grown to become a reference among LGD producers for its proprietary in-house scientific expertise regarding the diamond growing process. 

LUSIX is part of the Landa Group, a holding company dedicated to disrupting major industries with advanced technologies. It employs over 1,200 people and comprises Landa Labs, Landa Digital Printing, Landa Fund, and Landa Ventures. 

“We are thrilled and proud to welcome such high-profile investors, most notably LVMH Luxury Ventures, bringing their financial support and valuable industry insights,” said Benny Landa, founder and chairman of LUSIX. “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!”