The event, which is due to be held at the Copper Box Arena from October 19 to 22, will see the best taekwondo athletes from across the globe taking part.

The partnership between GB Taekwondo and 12BET was arranged by Sport Collective, a UK-based sports marketing agency.

"We are proud to be hosting the best taekwondo athletes in the world for the Grand Prix and World Para Championships in London," GB Taekwondo chair Julia Newton said.

"12BET have recognised the global reach and value of our sport and event and we are delighted to have them on board."

12BET spokesman Rory Anderson added: "I am really pleased to be involved with the 2017 World Taekwondo Grand Prix and World Para Championships.

"I am looking forward to 12BET receiving great brand exposure in key markets.

"Both events should be spectacular, and we wish all involved the best of luck."

BBC Sport will broadcast the event across all their platforms.

It will also be televised extensively around the world, including the rest of Europe and Asia.

Double Olympic champion Jade Jones will spearhead a 16-strong British squad at the World Taekwondo Grand Prix.

The squad also includes two-time world gold medallist Bianca Walkden and double Olympic medallist Lutalo Muhammad.

Great Britain won three medals at last month's World Grand Prix in Morocco's capital Rabat with gold for Walkden and Mahama Cho as well as silver for Jones.

Jones, who triumphed when the World Grand Prix visited Manchester in 2013 and 2015, is looking forward to returning to London where she won her first Olympic title in 2012.

"To be back fighting in London again will be just amazing," the 24-year-old said.

"It will always feel special.

"Winning my first Olympics at just 19 was the best experience I have ever had in my life.

"I am sure it's going to be great competing in front of a home crowd again.

"There is such a good vibe and it's great to know people have your back.

"It's our chance to shine and show people what we do behind closed doors."