DRX closes $10M Series A investment - Reuters.com - 1 minute read

DRX has secured a $10 million Series A investment as a means to strengthen its infrastructure and welfare for players, global content production and marketing.

The investment also is expected to allow the South Korean esports management organization to be prepared for the launch of Legends Champions Korea (LCK) franchises.

In addition to this investment, DRX announced that ATU Partners and its parent company Kibo Steel will invest another $12.5 million in the future.

“I sincerely thank all the investors. They believed in DRX’s value and its growth potential and executed investment and payment in advance before the franchise is finalized,” DRX CEO Sang-in Choi said. “I hope this investment will help not only DRX but also the entire LCK to continue its significant growth.”

Celebrated Korean actor Bae Yong-joon joined as a DRX shareholder. He will serve as an advisor to DRX’s strategy to strengthen its global branding.

—Field Level Media

Source: Reuters

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