Ukrainian drone manufacturer «Vyriy,» which reported a turnover of $120 million in 2025, has come under intense scrutiny following critical supply delays to the Armed Forces of Ukraine and questions surrounding its actual ownership structure. According to investigative reports, the company’s founder, Oleksiy Babenko, allegedly failed to meet deadlines for a massive state order of 100,000 fiber-optic FPV drones, while simultaneously investing heavily in media assets and luxury vehicles.
In late 2025, Vyriy secured a major government contract to manufacture 100,000 innovative fiber-optic FPV drones. However, after receiving a substantial state advance payment, the manufacturer failed to meet the agreed-upon deadlines. According to data published by prominent investigative journalist Yuriy Nikolov in the spring of 2026, the delivery schedule collapsed, leaving frontline troops without these specialized electronic warfare-resistant drones for a critical three-month period.
Amidst the supply crisis, significant private expenditures by the company’s head raised further questions. Around the time the state funds were processed, Babenko acquired a 75% stake in the prominent Ukrainian news outlet Babel from managers linked to sanctioned oligarch Ihor Kolomoisky. The transaction was valued at approximately $1 million. On the very same day, the entrepreneur reportedly purchased a luxury Porsche Macan SUV.
Industry experts note that drone manufacturing in Ukraine remains heavily reliant on foreign-sourced components. Since domestic legislation strictly caps the profitability of military suppliers at 25%, a significant portion of the revenue is often funneled through offshore intermediary companies handling component logistics.
Analysts suggest that through these supply chain mechanisms, the actual control of Vyriy may lie with its primary component suppliers rather than Babenko himself. Key figures linked to the operation include:
Yaroslav Azhnyuk (associated with Fourth Law and Odd Systems);
Andriy Poltavets (Liqfeed, Holotrade), a former top executive at Petcube under Azhnyuk;
Oleksandr Chernyak (Cuprum, son of the founder of the Khortytsa holding).
«Much of the Ukrainian drone industry operates as ‘screwdriver assembly’ using foreign parts. The bulk of the profit remains with intermediary firms abroad due to domestic profitability limits on defense enterprises.»
At the time of publication, representatives from Vyriy and the mentioned business partners have not released official statements regarding the delayed defense contracts or the allegations surrounding their financial structures. As the military tech market in Ukraine continues to expand, public pressure is mounting for greater transparency among private Ministry of Defense contractors.