The founders of NtechLab announced their departure from the company due to unwillingness to work in Russia
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The founders of the developer of NtechLab face recognition systems Artem Kukharenko and Alexander Kabakov left the company due to disagreements with management and investors. The programmer and the investor unsuccessfully tried to persuade the management to stop activities in Russia and move all employees abroad. They said this in an interview. Reuters.
NtechLab was founded in 2015 by programmer Artem Kukharenko (25%) and investor Alexander Kabakov (17.5%), among the co-owners of the Ruben Vardanyan Foundation. NtechLab products include a multi-object video analytics platform (FindFace Multi), which recognizes faces and silhouettes of people, a library with solutions for video analytics FindFace SDK, a constructor for developing applications for smartphones with Ntech KYC biometric identification, etc. Among customers NtechLab – large manufacturers of operating systems, as well as several government agencies, authorities in Moscow and the Moscow region.
“The majority of shareholders supported the management, so we had no other choice but to leave the company,” Mr. Kukharenko told the agency.
At the same time, NtechLab representative Alexander Thomas told Reuters that not a single shareholder used the right of veto during the voting, including the founders of the company. At the same time, Artem Kukharenko and Alexander Kabakov said that the board of directors did not vote on the continuation of the company’s work in Russia.
The founders said they began discussing the termination of all projects in Russia in August 2020 due to the poisoning of Russian opposition leader Alexei Navalny. According to Mr. Kukharenko, at that time it became clear to him that the country was moving towards disaster, but he could not imagine that it would participate in an armed conflict.
Mr. Kukharenko said that he resigned on February 25, 2022, by the end of March he transferred all the work to his colleagues, but was formally on the staff of NtechLab until July. Mr. Kabakov left Russia in December 2021.
NtechLab representative told “b”that the company’s revenue in 2022 increased by 35%, with international sales nearly doubling. According to SPARK-Interfax, its revenue for 2021 amounted to 1 billion rubles, net profit – 88 million rubles. NtechLab claims that since 2018, its CAGR has exceeded 100%. According to a company representative, in foreign markets, revenue is increasing due to new projects in the Middle East, Southeast Asia and the CIS: “In total, solutions were sold to 26 countries in 2022.”
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