Modu Sounds Off With $100M
by
Justin Moresco
on
25 March 2008, 13:38
Categories:
General news
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Media
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Communications
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Finance
Topics:
handsets
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Modu
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cellular technology
,
wireless technology
,
cellular handsets
,
wireless handsets
,
Globes
Modu, the Israeli technology startup that has the Guinness World Record for the world’s lightest mobile phone, has raised $100 million in venture funding.
The investment was made on the basis of a valuation of Modu of $150 million before this latest round of funding, according to a report by Globes, an Israeli business news publication.
Modu has developed a mobile handset based on flash memory technology. The handset can be fitted into “jackets” that transform it into different electronic devices, from a phone to a digital camera to a music player.
The Kfar-Saba, Isreal-based company was founded in early 2007 by Dov Moran, who previously founded msystems, a leader in the USB flash drive market.
Modu has previously raised $20 million from Genesis Partners, Gemini Israel Funds, SanDisk, and Mr. Moran, according to Globes.