Drone Racing LeagueThe Drone Racing League (DRL) has announced the closing of a $20 million Series B round of financing, bringing the total amount raised to $32 million. Additional investors in the DRL Series B round include Hearst Ventures, RSE Ventures, Lerer Hippeau Ventures and Courtside Ventures, all of which had pre-existing relationships in place with the DRL. It appears that the DRL has been sold to existing and new partners as a technology company first, as opposed to a new type of sports league. "We’re incredibly proud to announce new partners and investors aligning with DRL to solidify drone racing as the sport of the future," said DRL CEO and founder Nicholas Horbaczewski. The support we have from some of the most respected brands and investors is helping us rapidly realize that vision."

Source: Forbes June 12, 2017 14:15 UTC