Drone Racing League has closed on $20M in Series B funding, led by U.K telecommunications company Sky, Liberty Media Corporation (which owns the Formula 1 racing brand) and Lux Capital.
This new funding means that the league has now raised over $32M in three rounds. Allienz (who is also the title sponsor of DRL) and World Wrestling Entertainment also joined the round as new investors in the startup.
As a refresher, Drone Racing League was founded in 2015 to capitalize on the trend of amateur drone racing – and is now by far the most established player in the space. Last season over 75 million fans tuned in to watch DRL races, either online or on TV via their broadcast agreement with networks like ESPN.
While the new funding is certainly a benefit to the young startup, Nicholas Horbaczewski, founder and CEO of DRL emphasized that that the funding round materialized as…