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Beats co-founder invests in Professional Fighters League

US mixed martial arts promotion the Professional Fighters League (PFL) has secured $30m (€26.8m) in fresh funding from a group of investors that includes Jimmy Iovine, the billionaire co-founder of consumer electronics company Beats.

The Bloomberg news agency said Iovine is joined in the Series C round by Ted Segal, whose family founded LS Power, an investment, development and operating company focused on the energy sector. Also involved are Mark Leschly, managing partner at Iconica Ventures; SWaN Ventures; and Elysian Park Ventures.

Ted Leonsis, owner of NBA basketball team the Washington Wizards and NHL franchise the Washington Capitals, also participated, having invested in an earlier Series B round. Bloomberg said the PFL will use the new funding to enhance its data and analytics provision as it seeks to expand ahead of its second season, which commences on May 9.

The PFL markets itself as the first organisation to present MMA through a regular season, playoffs and championship format.

The PFL is set to introduce a number of new ventures this season, including the debut of MMA’s first-ever 155-pound women’s division which will feature two-time American Olympic judo gold medallist Kayla Harrison, as well as SmartCage and Cagenomics, proprietary PFL features that deliver real-time data and analytics in an attempt to bring fans inside the cage.

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