For Washington, Russia and China tech spies are suddenly everywhere
He faces up to 20 years behind bars if convicted. The ex-minister has denied the charges. He is still waiting for a hearing.connected to the Russian Maria Butina
Former Russian Minister Mikhail Abyzov heads to a hearing on March 27, 2019. Russia's anti-corruption agency alleges he ran a"criminal group" that"embezzled funds". He is connected to a VC firm investing in U.S. tech.However, Bright Capital's managing director, Mikhail Chuchkevich, was arrested in Russia in 2018 on suspicion of embezzlement, which may be why his picture is not on their website.
Their portfolio includes a $75 million investment Santa Clara, California-based Alta Devices—developers of flexible solar panels used on drones and other aircraft.the U.S. Navy Research Laboratory would use its devices for some test drones. There is a global competition going on between the U.S., Russia, and China to spearhead the drone-technology development.
The Pentagon is forcing a more skeptical look at Russia investments, just as they are with the Chinese.Abyzov-linked Bright Capital exited out of Palo Alto-based Augmented Pixels, a company focused on AR technologies and developing automatic navigation algorithms for drones. The tech is mainly for the military use for improve guidance precision in unmanned aviation vehicles.
“You’re not dealing with private capital in Russia,” says Blank. “It’s all connected to the government. I’d tell you that the majority of these Russian VC firms are not in it for the money.”
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