The Drone Racing League is looking to raise as much as $50 million in a Series C round and has already hit half that goal, according to SEC documents published this week.
The league, which hosts in-arena, first-person-view drone racing tournaments, has so far raised $26 million of its mid-stage round from a handful of investors that include Lux Capital and RSE Ventures. DRL declined an official comment on the round.
DRL has raised a total of $32 million in funding since its 2015 launch from backers that include Sky, Liberty Media (the owner of Formula 1), CRCM Ventures, Hearst Ventures, World Wrestling Entertainment, Allianz (the title sponsor of DRL’s premiere racing circuit), and Lux Capital.