Navini Raises $50 Million

Navini Networks Inc., a Richardson, Texas-based provider of portable wireless broadband network solutions, has raised $50 million in Series F funding. Arcapita Ventures and return backer Austin Ventures co-led the deal, and were joined by existing shareholders Granite Ventures, Investor Growth Capital, Lehman Brothers, Sternhill Partners, Intel Capital and Motorola Ventures. Navini has raised around $203 million in total VC funding since its 2000 inception. Past backer Sequoia Capital did not participate in the Series F round, but the Sequoia website still lists Navini as a portfolio company.