Remember when I posted about Modu and asked could you guess what it was about? (here) well it seems like they are going to be getting another $100 million to the $20 million in venture capital they’ve already raised according to The Globes. Currently the round hasn’t closed, but details are leaking such as the company is being valued at $150 million pre-money which means that they’re giving away 40% of the equity in this round.

Modu will create tiny modular phones that can be slipped into different device “jackets”— like an MP3 player, GPS, bigger cell phone, car stereo, or digital camera with Modu’s founder Dov Moran’s previous company M-Systems selling SanDisk for $1.6 billion in 2006 which pioneered the concept of the USB flash drive.

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