French racing site Racing-Live.com has raised $1.17 million in funding, from Ventech, LV Capital and Xange, all French VCs, to develop its premium content and its wireless data service for Formula 1 racing fans.
The company has had two previous rounds of financing. It raised 9 million Euro in 2000, and after a restructuring of the business in 2002, it raised another million. Annual sales are expected to hit the 3 million Euro mark this year.
The site has a mix of ad-supported racing content and subscription services, and will use the money to add more video and develop the mobile content service.
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