Lusix Overview
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. Lusix 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. Lusix is a spinoff company of Landa Group.
Cumulative Funding Raised Over Time ($)
Latest News
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Lusix’s $4M acquisition marks end of struggle for Benny Landa’s lab diamond venture | CTech
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.
Acquired-by
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The debt-ridden diamond company is looking for alternative bidders after the Japanese investor pulled out.
Japanese company EDP has withdrawn from its planned acquisition of Lusix, a laboratory diamond producer, due to the ongoing war in Israel.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.
Acquisition
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Investor Naoji Fujimori's bid falters as guarantees remain unpaid and rivals step up.
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.
Acquired-byLayoffs
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הרוכש היפני מתמהמה, ובינתיים המתחרה העלתה את ההצעה לרכישת לוסיקס של בני לנדא | כלכליסט
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.
Acquired-byLayoffs
growth-negative
From $152M in investments to a $2.5M sale: Lusix’s lab-diamond dream comes to a bitter end | CTech
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.
Acquired-byLayoffs
| Sector | Industrial Technologies |
Funding
| Total funding | $135M |
| Last funding | $90M |
| Stage | Acquired |
| Rounds | 2 |
| Investors | 5 |
Team Members
4
Employees: 51-200
Web & Social Links
| Website | lusix.com |
| Careers | Careers page |
Locations
Derech Gad Feinstein 13, Rehovot, Israel
Photos & Videos
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