Intel Capital, the corporate venturing arm of chipmaker Intel, has invested an undisclosed amount in Brazil-based managed mobility service Navita.
Navita enables users to manager their mobile devices and expenses, and is used by more than 300 corporate clients in Latin America over 200,000 mobile devices.
The investment is part of Intel’s wider strategy to improve innovation across its mobility ecosystem. Navita will benefit from the stake sale by being able to consolidate its market presence using the funding while expanding its research and development, sales and marketing teams.
Roberto Dariva, president of Navita, said: “Focus and innovation provided us with solid growth and market positioning. Now we see an opportunity to keep innovating, but at a higher speed. We chose Intel Capital not just for a capital injection, but also as a strategic partner.”