The all-electric E1 Series, the world’s first electric powerboat racing championship, is seeking to raise £20 million ($27.3 million) in its latest funding round, as it accelerates its global expansion plan and targets a £500 million ($683 million) valuation by the end of the decade.
Ahead of a high-profile showcase on London’s River Thames, CEO and founder Rodi Basso outlined the league’s ambitions: to increase the race calendar from 7 to 15 cities, enter key markets like Miami and Singapore, and build a second fleet of race-ready boats to enable logistical flexibility.
“If we secure additional boats, we can stage races across continents with shorter turnaround times — crucial for sustainable growth,” Basso said.
Diversifying Capital, Expanding Influence
Though E1 is backed by Saudi Arabia’s Public Investment Fund (PIF), Basso noted the importance of diversifying the shareholder base. The current funding round is being advised by Rothschild & Co, with pitches already delivered to over 50 family offices, 20 VC firms, and five institutional management groups progressing into deeper talks.
The new capital injection will not only fund boat manufacturing, but also:
- Scale marketing and content strategies
- Expand the commercial sales force
- Activate new fan experience zones globally
Celebrity Equity Driving Cultural Capital
E1 has leaned heavily on its star-studded roster of team owners, which includes LeBron James, Rafael Nadal, Tom Brady, and Virat Kohli. Each owner contributes visibility across digital platforms, with mandatory content promotion across social media before, during, and after each race.
Plans are underway to launch:
- Celebrity-branded merchandise lines
- A Netflix-style docuseries focused on E1 personalities and team rivalries
Basso was candid about the strategic use of celebrity equity: “Their global audiences are key to unlocking new fan markets. Without them, we wouldn’t have this cultural reach.”
Gender Representation, Team Growth & Governance
Each E1 team is required to field one male and one female pilot, setting a benchmark for gender inclusivity in motorsport. However, the ownership structure currently lacks female representation. Basso acknowledged this gap and signaled intent to diversify at the ownership and board levels, especially as new investors are onboarded.
The league currently fields nine teams, with plans to grow to 12, although future additions will be selective: “It has to be a quality celeb — someone who aligns with our values and global ambitions.”
Building the Formula E of the Water
The E1 model isn’t just innovative — it’s a case study in modern sports asset development:
- Electrification + sustainability is a high-value, government-aligned proposition
- Celebrity equity adds a media multiplier and enhances commercial storytelling
- Global modularity (like dual boat fleets) will enable calendar scalability
- Gender equity and cultural diplomacy make it a flagship for ESG-era sports investments
For investors, sponsors, and cities alike, E1 represents a rare opportunity to align with a future-facing motorsport property — but it demands clarity of intent and executional excellence.
Whether you’re a brand seeking entry into eco-conscious sports, a VC exploring early-stage sports IP, or a host city aiming to secure a high-impact green event — 365247 Consultancy delivers strategic advisory that connects capital, storytelling, and scale.
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IMAGE: Spacesuit Media
