Ultra-Orthodox VC Invests in Verifuel

There isn’t much connection between the ultra-orthodox community in Israel and aircraft, especially the military kind.  Nevertheless, Bashalva, a Haredi VC fund, has invested NIS 1.1 million in Aviv Tzidon’s new startup, Verifuel, which is valued at NIS 7 million.  Aviv Tzidon is the founder of BVR Systems, a company that develops and manufactures training and simulation projects for the military and civilian industries.

The former IAF combat pilot, according to Globes, “has developed an optical sensor that enables pilots and ground crew to spot the presence of water in a plane’s fuel tanks, which is a significant hazard.”  The investment is Bashalva’s second in a company established by Tzidon. “It also invested in his ergonomic chair, called the “Netron”, which has hydraulic and massage systems, designed for the computer working environment.”

Bashalva, which means “in peace”, is managed by Yosef Boimgarten out of Jerusalem.  It was launched two months ago with the mission of investing in the Haredi community and has already raised $5 million.

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