Beijing Beetle International Sports & Culture Co., Ltd. recently announced the completion of the A+ round of financing, with a total investment of RMB 10 million from ChinaEquity Group and Allin Capital. The investment will be used for development of IPs in new sports sub-divisions as well as development and operation of co-created sports events.
Previously, Beetle Sports had obtained the A round of financing from Zuoyu Capital, being the first sports company Zuoyu had ever invested in.
Beetle Sports specialize in the operation of outdoor obstacle races, such as the Mud Run. With another sports company, Mountain to Ocean, they also established the event called Snow Run, which was held at Wanlong Ski Resort, attracting over 200 participants.
Beetle Sports plans to launch a self-developed IP event called Badge of Courage in 2017. This event originates from the live shooting competition in Wargame, with simulation of the real war scenes to bring players immersive reality game experience, and will be launched in 4 cities including Beijing and Nanjing. They also plan to launch the Mud Run in 7 cities.
Source：China.com
Proofread by Sean O Diobhilin