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A Lab-grown Manufacturer Receives $45 Million Investment for New Factory

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Lusix, an Israeli lab-grown diamond producer, has received its first external investment as it moves forward with plans to construct a new, larger facility for the production of diamonds.

Lusix, an Israeli lab-grown diamond producer, has received its first external investment as it moves forward with plans to construct a new, larger facility for the production of diamonds.

Its owner, the Meirov family, also owns MID House of Diamonds, an Israeli natural-diamond dealer, which also owns More Investment House. Dotan Meirov, chief operating officer at MID, stated that the fund's investment decisions are made independently of the company.

“This investment will further accelerate Lusix’s growth, in line with the exploding demand for premium lab-grown diamonds [that] Lusix is experiencing,” Lusix said. “This is another milestone on Lusix’s growth path.”

Among the company's expansion plans is the establishment of a new manufacturing facility in the Israeli city of Modi'in. According to Landa, who spoke on the Rapaport Diamond Podcast last year, the plant will be several times larger than the current facility in Rehovot. The company intends to open it in the second half of this year, at the earliest.

The announcement comes on the heels of Lusix's recent appointment of Eyal Axelrod to the position of vice president of sales and marketing. At I. Hennig & Co., Axelrod worked as a De Beers broker and consultant on the natural-diamond market before joining De Beers.

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