Liberty Global and Discovery Communications have become shareholders in Formula E Holdings, the company which owns the all-electric series.
Liberty Global is the world's largest international cable company and the owner, among others, of the Virgin Media group.
Discovery, founded in 1985 as The Discovery Channel, is an American entertainment company.
No details on the Formula E deal were revealed.
"It is a significant step forward for Formula E to receive the backing of two major global media companies when we are barely halfway through our first season," said Formula E boss Alejandro Agag.
"The experience and know-how they bring will provide a significant boost to Formula E. We look forward to creating new opportunities together to develop and promote premium content for a global audience."