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Olswang advises former Top Gear hosts' startup DRIVETRIBE on its $5.5mn Series A funding round

19 August 2016

This article was produced by Olswang LLP, which joined with CMS on 1 May 2017.

International technology, media and telecoms law firm Olswang has advised DRIVETRIBE, the digital media platform and online community for motoring enthusiasts, on its Series A funding round. Led by Breyer Capital with additional participation by Atomico and other individual investors, the round raised $5.5 million. DRIVETRIBE is the creation of former Top Gear trio, Jeremy Clarkson, Richard Hammond and James May, and also former Top Gear Executive Producer Andy Wilman and serial entrepreneur Ernesto Schmitt.

Built on an advanced, bespoke distribution optimization solution, DRIVETRIBE will offer a platform for social-driven content aimed at auto enthusiasts. DRIVETRIBE will also provide a hub for social interactivity and user-generated content. Content will be structured into distinct streams - 'Tribes' - each of which will be hosted and curated by Clarkson, Hammond, May and also special guest stars.

Olswang Corporate Partner Nick Crosbie commented: "It's been a pleasure working with DRIVETRIBE on this funding round and we're confident that the company is on its way to unlocking a growth market with significant potential. The team behind DRIVETRIBE is instantly recognisable globally, and brings a wealth of unique know-how and passion to whatever they are involved in - this investment will enable the further development of the platform, and we look forward to working with them on future endeavors."

Corporate Partners Nick Crosbie and Simon Morgan led on this transaction, and were supported by Founding and Senior Partner Mark Devereux, Commercial Senior Associate Rebekah Hayes, Corporate Associate Tom Jameson, Finance Associate Mike Tanner and Trainee Will Holder.

Read more about Olswang’s international legal practice on the firm’s website.