Brabham Racing has met its first ?250,000 crowdfunding target to get its burgeoning sportscar project off the ground with a view to competing at the Le Mans 24 Hours in 2015.

The Brabham Racing moniker has not been seen in motorsport since 1992, but the revival of the name will begin with a planned season in the LMP2 class of the World Endurance Championship, with a view to competing in the Le Mans 24 Hours as well.

In order to achieve this, Brabham Racing launched a crowdfunding project to raise ?250,000 of funds in just under two months. With four days remaining, that total has now been surpassed.

Going forward, Brabham Racing will now look to up the bid to ?500,000.

"Our next target is ?500,000 - at which point we can start to assemble the back-office Brabham team and populate the Brabham-Digital platforms with content. Much of this money will be raised through private partnerships and sponsorship, but the closer to the target we can get at this stage the quicker we can get out on the track."