Media and e-commerce company Naspers has provided $40m of series E funding for Movile, a Brazil-based software and services developer, TechCrunch reported on Friday.
Movile provides educational entertainment and content apps aimed at children. The company is also building out its online-to-offline commerce capabilities, and currently operates food and ticket delivery services, as well as providing delivery logistics and online reviews through a range of subsidiaries.
Naspers previously participated in a $55m series D round for Movile in August 2014 that was led by private equity firm Innova Capital and also backed by FINEP, a part of Brazil’s Ministry of Technology.
Founded in 2000, Movile was originally known as IntraWeb before becoming Compera and then merging with nTime in 2007. In 2010, the company changed its name to Movile when it acquired its rival Yavox.
Naspers invested in both Movile’s 2008 series B round and 2010 series C, though the size of neither rounds has been disclosed. In 2000, venture capital firm Rio Bravo Investimentos invested an undisclosed amount of series A funding.