Deal Structure
- Babenko entered the company’s capital as a private individual.
- Vyriy Industries is not a party to the transaction.
- Kateryna Kobernyk retains 25% ownership and her role as editor-in-chief.
- No changes to the editorial team are planned.
In comments to industry media, Kobernyk emphasized that this is a private investment that will not affect the outlet’s editorial policy.
What the Deal Means for Babel
According to Babenko, the investment is part of his effort to support independent Ukrainian media during wartime. He stated that strong independent media are a foundation of a resilient state and that he intends to develop the media project together with the existing team.
Babel’s editorial team underlined that the publication’s strategy remains unchanged:
- strengthening financial independence;
- diversifying revenue streams;
- developing high-quality journalistic content;
- expanding its membership and community support model.
The outlet has not attracted shareholder funding since September 2022. In recent years, Babel has been financed through:
- grants from international donors;
- advertising contracts;
- audience donations;
- a community support model actively developed since late 2024.
The entry of a strategic investor may reduce reliance on grant funding and provide a more stable operational horizon.
About Vyriy
Vyriy Industries is one of the largest FPV drone manufacturers in Ukraine. The company produces thousands of unmanned systems monthly for defense needs.
- Revenue in 2024 amounted to approximately UAH 1 billion.
- According to Babenko’s estimate at the time, the company’s share of the FPV drone market stood at around 5%.
- In 2025, Vyriy completed five M&A transactions to strengthen its manufacturing and technological capabilities.
The entry of an entrepreneur from the defense technology sector into the media business reflects a broader trend of capital diversification by Ukrainian technology companies into humanitarian and socially significant sectors.
Why It Matters
The transaction may have several implications for the market:
- strengthening the financial sustainability of independent media in a wartime economy;
- shaping a new partnership model between technology businesses and journalism;
- reducing the dependence of Ukrainian media outlets on international grant funding.
For Babenko, this represents his first publicly known investment in the media sector and may signal a broader strategy of asset diversification beyond the defense industry.
