Drone Racing League Announces Significant Financing, New Partners

The Drone Racing League (DRL) has announced multiyear, international partners and sponsors ahead of its 2017 race season, as well as the close of a Series B investment round of more than $20 million.

In February, DRL introduced insurer Allianz as the title sponsor of the league’s race circuit. Allianz and Toy State, home of Nikko Air racing drones, are now joined by other brands including Amazon (Prime Video), Swatch, FORTO Coffee Shots and the U.S. Air Force. The DRL season begins on June 20 on ESPN and will be broadcast in more than 75 countries.

The $20 million financing was led by Sky, Liberty Media Corp. (owner of Formula 1) and Lux Capital. In addition to Liberty Media Corp., DRL has added new investors Allianz and World Wrestling Entertainmen. Other existing partners that joined Sky and Lux in the round included Hearst Ventures, RSE Ventures, Lerer Hippeau Ventures and Courtside Ventures. DRL has also added CRCM Ventures, supporting DRL’s expansion into China.

“We’re incredibly proud to announce new partners and investors aligning with DRL to solidify drone racing as the sport of the future,” comments Nicholas Horbaczewski, CEO and founder of DRL. “Over the past 18 months, we’ve committed to building a technology company that can capture the imagination of new sports fans around the world. The support we have from some of the most respected brands and investors is helping us rapidly realize that vision.”

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