Russian oligarch Roman Abramovich has invested in several startups that went on to receive government contracts in the US and the UK, according to leaked documents. At least one of the seven firms was unaware of Abramovich’s investment, highlighting issues of small startups identifying who actually backs them. Sunnyvale, California-based location services company Kiana Analytics received $140,000 from offshore tax haven-based Innes Worldwide Holdings, a company that Abramovich ultimately controlled, without knowledge of the oligarch’s involvement. Seven months later, Kiana received $200,000 from the US Department of Homeland Security to develop technology for Customs and Border Protection. The Kiana transaction reflects how difficult it can be for small startups to identify obscure backers, the report said.
Russian billionaire Abramovich invests in US govt contract startups
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