{"_id":"agxzfmlsbGlzdHNpdGVyGAsSC05ld19Db21wYW55GICAwOWavoMJDA","lastupdate":"2024-10-30T00:00:00.000Z","update_date":"2024-10-30T00:00:00.000Z","lastModified":"Oct 30, 2024","active":1,"confidence_score":90,"confidence_score_reason":"markets, not claimed","urlname":"lusix","minimal_profile":null,"status":"Acquired","fullstatus":"Acquired by Fenix Diamonds Belgium B.V on Oct, 2024","acquired":0,"hide_reason":null,"hide_reason_data":null,"hide_reasons":[{"id":"8257rxn4P8EFQOmS5hAAauHyYMhhxrA5u6yWX4XUShpybX3AMNo3Y9","reason":"Pending approval - External entity"},{"id":"aOIaOiiqfpA8UMw6VCTh8ueRmkG3lzDy1NGqEOaJbe11OrCzMTCCd6","reason":"The company is a service provider"},{"id":"ddgjKuc3GgH8E5UehSVJviRl471BCajL1plO8HtGoOojy2NivYqQ7x","reason":"Owner asked to delete"},{"id":"EjOKM211H1ira9J63oaGPuUxvr7Oba55TZo3NWsFO5uhbNu7o4x4zD","reason":"The company is not Israeli"},{"id":"J7fQJtnT3GdWWSE3MD8rzaW65LJ4jEIKxSZnneQiReONdZjG3zIqWe","reason":"Owner asked to hide in the meantime"},{"id":"NxlAC3ReFb5ksiYNLp2FnUyluoJzwRCYfcF7xpTZaPM53SdWQ5kv0B","reason":"Pending approval"},{"id":"RhC1tlwXzioK0MfzBII3H2wepEfQOfKVktmdwqeqTJjGi3ZaBWUqZo","reason":"The company is not innovative"},{"id":"S0Ed46vNI6vZYVxLedANWGjas23K6hY0QdsCtiGYL7lshqIEdLV3sA","reason":"The company ceased operations in Israel"},{"id":"VTANq7bEvlsEcPjp0ghelXfShaCosgndONGjgU730aAOxXtaDIF5j3","reason":"This is a product of an existing company"}],"type":"Startup","logokey":"$66IblhVuTu3mLDudVzMVfVYy7yjjlUJjPsrcu2YUTLGCUDfu0VWCuc","name":"Lusix","oneliner":"Lab-grown Diamonds","registrar":"515374742","website":"https://lusix.com","careerspage":"http://lusix.com/careers","founded_month":1,"founded_year":2016,"formernames":[],"sociallinks":{"twitter":"","youtube":"","facebook":"https://www.facebook.com/Lusix-475853372573476","linkedin":"https://www.linkedin.com/company/10568030","instagram":""},"social":["https://www.linkedin.com/company/10568030","https://www.facebook.com/Lusix-475853372573476"],"flattenedsociallinks":"https://www.linkedin.com/company/10568030|https://www.facebook.com/Lusix-475853372573476","apps":{"appstore":"","googleplay":""},"is_claimed_by_owner":null,"employees":"51-200","employees_exact":56,"patent":1,"raised":135000000,"stage":"Acquired","public_stage":"Acquired","primary_sector_key":"agxzfmlsbGlzdHNpdGVyJAsSF0Jhc2VDbGFzc2lmaWNhdGlvbk1vZGVsGICA4Puanf0LDA","primary_sector":"Industrial Technologies","alternativenames":null,"about":"Lusix is a technology-driven prime producer of lab-grown diamonds marketed under the brand name Sun Grown Diamonds. The company has developed the ability to grow custom-shaped rough diamonds, including Lusix’s proprietary Pyramid Diamond, as well as colored rough diamonds. \n\nLusix is committed to the highest level of quality and traceability practices and is independently certified for its sustainability. The company’s diamonds are grown in Israel in one the world’s most scientifically advanced manufacturing facilities. Lusix is vertically integrated, from the design and manufacture of its own custom-made reactors to the large-scale production of premium quality diamonds.\n\nLusix is a spinoff company of Landa Group.","climatetech_description":null,"is_climatetech_relevant":null,"phone":"+972772208600","country":null,"address":{"israeli":[{"id":"3cf41442-95e8-4a31-aa1f-748e46d43956","city":"Rehovot","type":null,"address":"Derech Gad Feinstein 13, Rehovot, Israel","placeid":null,"notactive":0,"openeddate":null,"registrarid":null,"firstrdcenter":0,"registrarname":null}],"officesabroad":null},"headquarter_address":null,"district":"Center District","news":[{"id":"PQ7qsaAkr56mYR459EutgmbMEGT1QHnENl9tAa2XBUW1Pjhy6lVqxj","date":"Oct 29, 2024","link":"https://www.calcalistech.com/ctechnews/article/rjwkl50xkx","source":"www.calcalistech.com","visible":1,"analysis":{"tags":"acquisition","company":"Lusix","layoffs":null,"summary":"Lusix, a laboratory diamond company, has been sold to the Belgian company Fenix for $4 million after facing financial difficulties and intense competition in the lab diamond market. The sale was finalized following a court ruling, with Fenixs proposal favored due to its employment commitments. Lusix, founded by Benny Landa, had previously received investments totaling $152 million but faced significant losses and a sharp decline in diamond prices. The company was valued at $5 million during an emergency fundraising round in October 2023. Fenixs acquisition was supported by Lusixs employees and creditors, as it promised to retain more employees compared to other bidders. The sale marks the end of Lusixs struggle to survive in the competitive market.","partners":null,"customers":null,"investors":["Fenix","PD Holdings"],"confidence":10,"key_topics":["acquisition","financial hardship","competition","employment","valuation"],"date_of_event":"October 2023","valuation_amount":"$5 million","impact_on_company":"growth-negative","investment_amount":null,"structured_issues":["Acquired-by"],"acquisition_amount":"$4 million","structuredIssuesShow":"#Acquired-by","entityGrowthIconPath":"url(/assets/circle-red.svg);"},"sentiment":"growth-negative","analysisId":"aLHIhOx7CpcQVy3EFr2jAro7WFSvJxOutFGuc6RUyM6hk5XBvaFRWI","news_summary":"Lusix’s $4M acquisition marks end of struggle for Benny Landa’s lab diamond venture | CTech","analysisStructuredIssuesDisplay":"block","analysisImpactOnCompanyDisplay":"block"},{"id":"aAFX4eNSSFrAiXBN3e4myQiuR3gzqRSUkZ9U7tx9qLqPmTlugtk6GR","date":"Oct 8, 2024","link":"https://www.calcalistech.com/ctechnews/article/sjszd8mkyg","source":"www.calcalistech.com","visible":1,"analysis":{"tags":"withdrawal","company":"EDP","layoffs":null,"summary":"Japanese company EDP has withdrawn from its planned acquisition of Lusix, a laboratory diamond producer, due to the ongoing war in Israel. Lusix is facing financial distress with debts amounting to NIS 103 million (approximately $27 million). EDP, which is publicly traded on the Tokyo Stock Exchange, decided against investing in Israel due to perceived risks. EDP had initially offered $2.5 million for Lusix, proposing to pay in 36 installments and retain 20 of Lusixs 50 employees. With EDPs withdrawal, Belgian company Phoenix, which had the second-highest bid, may reenter the acquisition process. Lusix has raised $152.5 million from investors but is struggling with significant financial losses.","partners":null,"customers":null,"investors":["Benny Landa","Louis Vuitton","More Investment House","Ragnar"],"confidence":10,"key_topics":["withdrawal","acquisition","investment","financial distress","losses"],"date_of_event":"October 2023","valuation_amount":null,"impact_on_company":"growth-negative","investment_amount":null,"structured_issues":["Acquisition"],"acquisition_amount":"$2.5 million","structuredIssuesShow":"#Acquisition","entityGrowthIconPath":"url(/assets/circle-red.svg);"},"sentiment":"growth-negative","analysisId":"xLdr5V7DRNoUAtPl1IoUZEUIUepzgS1wHuO6SMiYFYnkYnGVY3tM2a","news_summary":"The debt-ridden diamond company is looking for alternative bidders after the Japanese investor pulled out. ","analysisStructuredIssuesDisplay":"block","analysisImpactOnCompanyDisplay":"block"},{"id":"ij0lRzlxsKoEVHItSQZdLGaf98QSfdHmve7g14zwGNldtBvzbIiqam","date":"Oct 6, 2024","link":"https://www.calcalistech.com/ctechnews/article/s15og7gkyg","source":"www.calcalistech.com","visible":1,"analysis":{"tags":"sale process","company":"Lusix","layoffs":"most of the companys employees","summary":"Lusix, a laboratory diamond company, is facing challenges in its sale process to Japanese investor Naoji Fujimori, owner of EDP. Fujimoris offer of $2.5 million, which was higher than a competing bid, is in jeopardy due to his failure to provide a required 10% guarantee. The competing party has since increased their offer to $2.7 million. Lusixs trustee, Shay Bar Nir, has requested the court to extend the deadline for the sale process beyond October 8. Lusix has suffered significant financial losses, totaling $65 million over the past two and a half years, and most of its employees will be laid off. The company had previously raised $152.5 million in investments since its founding in 2016.","partners":null,"customers":null,"investors":"Naoji Fujimori","confidence":9,"key_topics":["sale difficulties","court application","competing offer","payment terms","financial losses"],"date_of_event":"October 8","valuation_amount":null,"impact_on_company":"growth-negative","investment_amount":null,"structured_issues":["Acquired-by","Layoffs"],"acquisition_amount":"$2.5 million","structuredIssuesShow":"#Acquired-by  #Layoffs","entityGrowthIconPath":"url(/assets/circle-red.svg);"},"sentiment":"growth-negative","analysisId":"gZb9n0oAQZpw48ImFA8PGXkHndq1bdMzlKUy9ghalgHH2IWEbYnWwB","news_summary":"Investor Naoji Fujimori's bid falters as guarantees remain unpaid and rivals step up. ","analysisStructuredIssuesDisplay":"block","analysisImpactOnCompanyDisplay":"block"},{"id":"5KAM1mI1hwpVGuquYEmaFkD3FNiFj7CP11Z9MWV2NufMnaCl0TQ5bG","date":"Oct 6, 2024","link":"https://www.calcalist.co.il/local_news/article/skwcmbejjx","source":"www.calcalist.co.il","visible":1,"analysis":{"tags":"acquisition","company":"לוסיקס","layoffs":"most employees","summary":"The article discusses the challenges faced by לוסיקס, a lab-grown diamond company owned by Benny Landa, in its acquisition process by Japanese investor פנאוזי פוגימורי, owner of Japans public company EDP. Despite submitting a higher bid of $2.5 million, פוגימורי has not provided the required 10% guarantee. Meanwhile, Belgian company פניקס דיימונדס has increased its competing offer to $2.7 million and committed to retaining 13 לוסיקס employees post-acquisition. לוסיקס has incurred losses of $65 million over the past two and a half years, despite $152.5 million in investments since its founding in 2016. Most employees, represented by attorney אופיר רונן, will be forced to leave. The court is being asked to extend the stay of proceedings beyond the set date of October 8.","partners":null,"customers":null,"investors":"פנאוזי פוגימורי","confidence":9,"key_topics":["acquisition","investment","layoffs","valuation","court"],"date_of_event":"October 8","valuation_amount":null,"impact_on_company":"growth-negative","investment_amount":null,"structured_issues":["Acquired-by","Layoffs"],"acquisition_amount":"2.5 million dollars","structuredIssuesShow":"#Acquired-by  #Layoffs","entityGrowthIconPath":"url(/assets/circle-red.svg);"},"sentiment":"growth-negative","analysisId":"7jApfLKJKbvbvKxfsfWMQ42nlZwfSIIRKSKDCZh99gLqSyLTEEMtBC","news_summary":"הרוכש היפני מתמהמה, ובינתיים המתחרה העלתה את ההצעה לרכישת לוסיקס של בני לנדא | כלכליסט","analysisStructuredIssuesDisplay":"block","analysisImpactOnCompanyDisplay":"block"},{"id":"Q2RPDFJQ51MwNASSl3htyS7AH9GyE0eDZf1pUhPZGO52K0GMBbP9kQ","date":"Sep 30, 2024","link":"https://www.calcalistech.com/ctechnews/article/skcf4td0r","source":"www.calcalistech.com","visible":1,"analysis":{"tags":"acquisition","company":"Lusix","layoffs":"60","summary":"Lusix, a lab-grown diamond company founded by Benny Landa, is set to be acquired by Japanese firm EDP, owned by Naoji Fujimori, for NIS 9.5 million ($2.5 million). The acquisition comes after Lusix faced significant financial challenges, losing $65 million over two years and accumulating NIS 103 million ($28M) in debt. Despite raising $152.5 million in investments since 2016, including $90 million from prominent investors like Louis Vuitton and More Investment House, Lusix struggled due to a sharp drop in lab-grown diamond prices. The acquisition deal includes employing 20 Lusix employees, but most will be laid off. The sale proceeds will primarily cover Lusixs debts. The acquisition is pending court approval, following a bidding process where another offer was 25% higher.","partners":[],"customers":[],"investors":["Naoji Fujimori","Louis Vuitton","More Investment House","Ragnar","Dudi Weissman","Geffen Capital","Aharon Frenkel"],"confidence":10,"key_topics":["acquisition","investment","debt","layoffs","competition"],"date_of_event":"October 2023","valuation_amount":"$5 million","impact_on_company":"growth-negative","investment_amount":"$15 million","structured_issues":["Acquired-by","Layoffs"],"acquisition_amount":"$2.5 million","structuredIssuesShow":"#Acquired-by  #Layoffs","entityGrowthIconPath":"url(/assets/circle-red.svg);"},"sentiment":"growth-negative","analysisId":"tvaUoyh8V03BW3bjvR9zfQFeOnifJg5pqsrzdgF1r7HRpSMcgXW5yT","news_summary":"From $152M in investments to a $2.5M sale: Lusix’s lab-diamond dream comes to a bitter end | CTech","analysisStructuredIssuesDisplay":"block","analysisImpactOnCompanyDisplay":"block"},{"id":"fETRV0QIoeIyjxN2Vv83LVJYIMs4Y0aad2gGcDvRZLYyfsz9GI0G3f","date":"Sep 29, 2024","link":"https://www.globes.co.il/news/article.aspx?did=1001490596","source":"www.globes.co.il","visible":1,"analysis":{"tags":"acquisition","company":"Lusix","layoffs":"20 employees retained","summary":"Lusix, a lab-grown diamond company founded by Benny Landa, is facing a challenging period as it is set to be acquired by Japanese company EDP for $2.5 million. The acquisition offer, which is 25% higher than other bids, comes after Lusix raised around $150 million from various investors, including Benny Landa and Louis Vuitton. EDP, owned by Naogi Fujimori, plans to retain most of Lusixs employees and keep production in Israel. However, Lusixs financial struggles, burning $800,000 monthly, necessitated the sale. The acquisition includes intellectual property, and the previous legal entity will be dissolved. A significant deal with a major Israeli retailer in the U.S. fell through, which could have provided a higher valuation.","partners":["EDP"],"customers":[],"investors":["Benny Landa","Aaron Frenkel","Dudi Wiesman","Louis Vuitton"],"confidence":9,"key_topics":["acquisition","valuation","employees","investment","production"],"date_of_event":"Not explicitly mentioned","valuation_amount":"2.5 million dollars","impact_on_company":"growth-negative","investment_amount":"150 million dollars","structured_issues":["Acquired-by","Layoffs"],"acquisition_amount":"2.5 million dollars","structuredIssuesShow":"#Acquired-by  #Layoffs","entityGrowthIconPath":"url(/assets/circle-red.svg);"},"sentiment":"growth-negative","analysisId":"xT07MhoYKVwbfVUtJ7jHgRy9HjHtQ2I5tdRYoaJFhjh5Qesi2lREFh","news_summary":"האם חברת היהלומים של בני לנדא תימכר במיליוני דולרים בודדים?","analysisStructuredIssuesDisplay":"block","analysisImpactOnCompanyDisplay":"block"},{"id":"iCnW1tlCTq6Pplbf3HZilVxYWAFszEX0kdn4UIBfH0SxYvkvqNyv5v","date":"Sep 4, 2024","link":"https://www.calcalistech.com/ctechnews/article/rtbjxy4la","source":"www.calcalistech.com","visible":1,"analysis":{"tags":"debt settlement","company":"Lusix","layoffs":"60","summary":"The Central District Court has extended the stay of proceedings for Lusix, a lab-grown diamond company, until the end of the month. Attorney Shay Bar Nir has been appointed as the trustee for the companys debt settlement and will seek to find a buyer for the company. Lusix has reported significant financial losses, totaling $65 million since 2022, primarily due to aggressive competition from Indian companies. The company has placed two-thirds of its 90 employees on unpaid leave and is dealing with debts amounting to NIS 103 million. Lusixs revenue has been steadily declining over the past few years.","partners":null,"customers":null,"investors":["More Investment House","Ragnar","Aharon Frenkel","Dudi Weissman"],"confidence":10,"key_topics":["debt","losses","merger","competition","revenue"],"date_of_event":"2024-09-30","valuation_amount":null,"impact_on_company":"growth-negative","investment_amount":null,"structured_issues":["Acquired-by","Layoffs"],"acquisition_amount":null,"structuredIssuesShow":"#Acquired-by  #Layoffs","entityGrowthIconPath":"url(/assets/circle-red.svg);"},"sentiment":"growth-negative","analysisId":"MBLDaS3R9ymQFasA0AjtioTfVM1KEcWeL4IEGuq7QxMJqFSbchdpW3","news_summary":"Trustee to explore full or partial sale of Lusix as financial woes deepen.","analysisStructuredIssuesDisplay":"block","analysisImpactOnCompanyDisplay":"block"},{"id":"k1hW5TpqVbnUhsixcAfJYtl3GIVWlQkfZEeDrjlF7VMJFcuVrUOQpr","date":"Aug 19, 2024","link":"https://www.calcalistech.com/ctechnews/article/rykb0igoa","source":"www.calcalistech.com","visible":1,"analysis":{"tags":"Debt, Merger, Insolvency","company":"Lusix","layoffs":"60","summary":"Lusix, an Israeli company that produces laboratory diamonds, has requested a stay of proceedings due to debts of about $28 million. The company is seeking six weeks to complete a merger with another company, after which shareholders will inject $22 million. Lusix has raised over $150 million to date. The company has put 60 of its 90 employees on leave without pay, and its plant in Modiin will be temporarily closed. Lusix began selling rough diamonds in 2019, and by 2020, the business had become profitable. However, as of June 2022, the prices of rough laboratory diamonds have fallen by about 90%, leading to financial difficulties.","partners":"Not mentioned","customers":"Not mentioned","investors":["Benny Landa","LVMH","More Investment House","Ragnar fund","Maverick VC fund","Tel Aviv Municipality employees","Israel Aerospace Industries employees","Dudi Weisman","Aaron Frenkel"],"confidence":8,"key_topics":["Debt","Merger","Insolvency","Layoffs","Investment"],"date_of_event":"Not specified","valuation_amount":"$300-500 million","impact_on_company":"growth-negative","investment_amount":"$150 million","structured_issues":["Investment","Acquired-by","Layoffs"],"acquisition_amount":"Not mentioned","structuredIssuesShow":"#Investment  #Acquired-by  #Layoffs","entityGrowthIconPath":"url(/assets/circle-red.svg);"},"sentiment":"growth-negative","analysisId":"TSJCDBRL5ukHN8Ime8YcCRb0WOiyHZM35wVpkQbi4bQPJFiUyC4OGk","news_summary":"The fall of Lusix: Inside the collapse of Israel's synthetic diamond pioneer | CTech","analysisStructuredIssuesDisplay":"block","analysisImpactOnCompanyDisplay":"block"},{"id":"JftvEhY1q4VjsIMat2ThWwNySHHdm9P7T9dkYZFn6xsJzTkmwvqp8I","date":"Jan 17, 2024","link":"https://www.calcalistech.com/ctechnews/article/hyy76qhfa","source":"www.calcalistech.com","visible":1,"analysis":{"tags":"Emergency Funding, Management Changes","company":"Lusix","layoffs":"Not mentioned","summary":"Lusix, an Israeli synthetic diamond company, has been significantly impacted by high interest rates and increased industry competition, leading to an emergency funding round at a valuation of $50 million. The companys founder, Benny Landa, had to dilute his ownership stake from 97% to 25% as a result. The company has also replaced its CEO and is refocusing its activities. Lusix, which was founded in 2016, produces laboratory-grown rough diamonds that are sold to polishers and used by jewelry companies. The company secured a $90 million funding round in June 2022, led by the investment fund of fashion giant LVHM.","partners":"Not mentioned","customers":"Not mentioned","investors":["Benny Landa","LVHM Luxury Ventures","Ragnar Crossover Fund"],"confidence":"8","key_topics":["Emergency Funding","Management Changes","Industry Competition","Synthetic Diamonds","Business Diversification"],"date_of_event":"2023","valuation_amount":"$50 million","impact_on_company":"growth-negative","investment_amount":"$90 million","structured_issues":["Investment","Management Changes"],"acquisition_amount":"Not mentioned","structuredIssuesShow":"#Investment  #Management Changes","entityGrowthIconPath":"url(/assets/circle-red.svg);"},"sentiment":"growth-negative","analysisId":"NT9LXw0SK2vVsGrgOqOItIiszV5We9NePt3dJYqoYrWxnw45HsYeFb","news_summary":"Benny Landa's lab diamond startup Lusix sees valuation crash, raises urgent funding | CTech","analysisStructuredIssuesDisplay":"block","analysisImpactOnCompanyDisplay":"block"},{"id":"7xsLWwUMgB6yng2G1i56qFxJcZmO9Hk0JlJGhCPdYnRzuLWCALhTBV","date":"Jun 15, 2022","link":"https://www.businesswireindia.com/lusix-unveils-sun-grown-diamond-79337.html","source":"www.businesswireindia.com","visible":1,"analysis":null,"sentiment":null,"analysisId":"K6EXeQ7Vli6z3DeBKFw7XeCHbRcPTnfjfz8Dv4M1U5YOVda93JENYD","news_summary":"LUSIX Unveils Sun Grown Diamonds™","analysisStructuredIssuesDisplay":"none","analysisImpactOnCompanyDisplay":"none"},{"id":"489ce008-6ca6-48c7-bbdd-a0b15ffb4565","date":"Jun 10, 2022","link":"https://www.calcalistech.com/ctechnews/article/b1nhuqxyc","source":"www.calcalistech.com","visible":1,"analysis":{"tags":"investment, expand","company":"Lusix","layoffs":null,"summary":"Israeli startup Lusix has completed a $90 million funding round from investors, including LVMH Luxury Ventures, Ragnar Crossover Fund, and More Investments. The company plans to use the investment to expand its production capacity in Israel with a second 100% solar-powered facility. Lusix produces lab-grown diamonds and its products are marketed under the Sun Grown DiamondsTM mark. The investment is expected to have a positive impact on the companys growth.","partners":null,"customers":null,"investors":"LVMH Luxury Ventures, Ragnar Crossover Fund, More Investments","confidence":9,"key_topics":["Lusix","lab-grown diamonds","investment","expansion","solar-powered facility"],"date_of_event":null,"valuation_amount":null,"impact_on_company":"growth-positive","investment_amount":"$90 million","structured_issues":["Investment","Expand"],"acquisition_amount":null,"structuredIssuesShow":"#Investment  #Expand","entityGrowthIconPath":"url(/assets/circle-green.svg);"},"sentiment":"growth-positive","analysisId":"wspPSNlkJhi7Ho3lS2YzocErWL2BxRmL3dePxoAPP3q3Zv4aXWFAsY","news_summary":"Lusix raises $90 million for lab-grown diamonds, including from LVMH Luxury Ventures  CTech","analysisStructuredIssuesDisplay":"block","analysisImpactOnCompanyDisplay":"block"},{"id":"sftS9KslnDopyqQyVMxnaD1HQu4lCzpwmbWmv7HOIQtSJ2GE13tYRt","date":"Feb 20, 2022","link":"https://en.israelidiamond.co.il/news/israel/israel-based-lab-grown/","source":"en.israelidiamond.co.il","visible":1,"analysis":null,"sentiment":null,"analysisId":"NeOBi1upuyEp5bshzold6c4pqkedPA32yNxLEAk8foLQqjMrQlHr9L","news_summary":"Israel-based lab grown company Lusix announced that it has raised $45 million - Israeli Diamond","analysisStructuredIssuesDisplay":"none","analysisImpactOnCompanyDisplay":"none"},{"id":"20069943-b61c-4ae3-9d38-7a5ef60ba82a","date":"Feb 10, 2022","link":"http://www.idexonline.com/FullArticle?Id=47388","source":"www.idexonline.com","visible":1,"analysis":{"tags":"investment","company":"Lusix","layoffs":null,"summary":"Lusix, the lab-grown company, has raised $45m to build a new plant in Israel and expand its production. The funding was secured from a consortium led by Ragnar and including More Investment House, Gefen Capital, and Maverick Ventures. The new facility in Modiin will be five times the size of its current facility and is set to open later this year. Lusix aims to bring back the diamond-production industry to Israel through diamond synthesis. Benny Landa, the founder of Lusix, is known as the father of commercial digital printing and previously sold his company Indigo to HP for $830m.","partners":null,"customers":null,"investors":"Ragnar, More Investment House, Gefen Capital, Maverick Ventures","confidence":9,"key_topics":["Lusix","funding","new plant","expansion","Israel"],"date_of_event":null,"valuation_amount":null,"impact_on_company":"growth-positive","investment_amount":"$45m","structured_issues":["Investment"],"acquisition_amount":null,"structuredIssuesShow":"#Investment","entityGrowthIconPath":"url(/assets/circle-green.svg);"},"sentiment":"growth-positive","analysisId":"tw8y3ztrzV6OfQuhFX2BcnsPhfdrLOeeb1YcWwDIj635NtClcZinLi","news_summary":"Lusix to Expand Lab Grown Production with $45m Investment","analysisStructuredIssuesDisplay":"block","analysisImpactOnCompanyDisplay":"block"},{"id":"I65yHCtY3busIpi24yR9e2V8o6FYAHUE6KZmmO8Xrw41z6T2C60no8","date":"Aug 10, 2021","link":"https://www.prnewswire.com/news-releases/lusix-granted-sustainability-accreditation-301352456.html","source":"www.prnewswire.com","visible":1,"analysis":{"tags":"sustainability","company":"LUSIX","layoffs":"","summary":"LUSIX, a laboratory-grown diamond producer based in Rehovot, Israel, has achieved accreditation under the SCS 007 Sustainability Rated Diamond Standard for Trial Use. This certification confirms LUSIXs commitment to sustainability across five key areas, including climate neutrality and ethical stewardship. The company is expanding its production capabilities with new reactors to meet the growing demand for certified sustainable diamonds. LUSIXs accreditation is seen as a significant milestone in promoting sustainability within the diamond industry. 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