So reports PEHub, citing sources: Novarra, the Itasca, IL-based mobile browsing software company which makes those half-sucky browsers for operators, has raised a big $50 million round. The round was led by longtime backer JK&B Capital, with Qualcomm (NSDQ: QCOM) signing on as a strategic investor that will help Novarra expand into Asia. Other investors include Fort Washington Capital Investors and a direct investment fund affiliated with Colorado PERA. Novarra’s original VC – Kettle Partners of Chicago – did not re-up, as it went out of business several years ago (although it retains a small minority stake in Novarra), says the story. The company operator clients include Vodafone (NYSE: VOD) UK, 3 Italy and Hong Kong, and U.S. Cellular. It recently signed a deal to provide web browsing within Yahoo’s (NSDQ: YHOO) oneSearch service.

Novarra’s last publicly disclosed round was $20 million third round in 2001, but has raised rounds in 2003, 2005 and 2006 as well. Next on tap is probably an IPO.

JK&B Capital also invested in the past in Openwave (NSDQ: OPWV) (then called Phone.com).