Haredi VC fund invests in aviation sensor start-up

The optical sensor of Aviv Tzidon's Verifuel can spot the presence of water in planes' fuel tanks.

Bashalva will invest NIS 1.1 million in Verifuel Ltd., a new start-up founded by Aviv Tzidon, at a company value of NIS 7. million. Tzidon is the founder and former chairman of aviation simulator and training systems maker BVR Systems (1998) Ltd. (Bulletin Board:BVRSF).

Tzidon, a former IAF combat pilot, 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 in Verifuel is Bashalva's second investment 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 was launched two months ago to specialize in investment in the haredi (ultra-orthodox) community. It has raised $5 million, and is managed by Yosef Boimgarten. The company's offices are located in Kiryat Belz in Jerusalem.

Published by Globes [online], Israel business news - www.globes-online.com - on April 24, 2008

© Copyright of Globes Publisher Itonut (1983) Ltd. 2008

Twitter Facebook Linkedin RSS Newsletters גלובס Israel Business Conference 2018