A consortium of the Rattha Group from Chennai, Mumbai based White Unicorn Ventures, AngelList India LLP from Delhi, Jitendra Gupta of PayU and ex-founder of FreeCharge Kunal Shah, have come together to invest in the recently launched Xtreme1 Racing League or X1 Racing League with a long-term vision in mind and for the promotion of motorsports in the county.
The brainchild of India’s top international car racers Armaan Ebrahim and Aditya Patel, the X1 Racing League is scheduled to be held in the first quarter of 2019. The race will be a mix of track and street circuits and will see eight city-based franchise teams, each comprising of two custom-made cars and four drivers.
Institutional investors like the Rattha Group, White Unicorn and AngelList have taken a long position on the League giving the founders freedom to invest in R&D including developing electric engines and hi-tech integrations, and assets like cars, engines, safety equipment and circuit infrastructure.
All the investors believe that the X1 Racing League is well-positioned with a made-for-TV and Made-in-India product, that is capturing audiences across all age groups and gender. It is also a good mix of the traditional sports league along with the new-age technological inclusions, right from broadcasting the live content to the distribution of the content.
Involvement of individuals like Jitendra Gupta and Kunal Shah offer access to capital that haven’t been tapped yet for sports and entertainment content, and to the tech ecosystem which is ripe for disruption with regards to sports advertisements and fan-engagement. This investment from a very strategic group of people has given the League the dynamism for growth.
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