The corporate venturing unit of BMW, BMW i Ventures, has invested in mobile technology company Embark, a company that creates navigational apps for iphone and android. This expands BWM’s tie-ins with mobility service providers after investments into MyCityWay, ParkAtMyHouse and Chargepoint.
BMW i Ventures, part of the BMW i sub-brand, invest in services that can aid the carmaker expand its traditional business into new areas. BMW also intends to launch a range of new, mostly electric, vehicles under the i brand.
David Hodge, chief executive of Embark, said: “The investment will help Embark explore ways to partner with BMW and to expand geographically.”