Modu barely alive after failed bid for capital, laying off most of its employees

Modu hasn’t really stormed the market with any of its miniature offerings just yet, and even with the just-announced Modu T and the upcoming Android-based Modu W offering a chance to turn things around, it looks like Modu is up against the financial ropes. Founder Dov Moran just announced that the company had failed to raise money in Tel Aviv, and he’s going to have to lay off most of his workforce to stay alive. Modu currently employs around 30 people, and it’s naturally going to have trouble building and selling phones with any fewer, but Dov says the company will “continue to sell its products” and he’s going to be on the hunt for “other sources of capital.” Modu barely alive after failed bid for capital, laying off most of its employees originally appeared on Engadget on Thu, 18 Nov 2010 15:48:00 EDT. Please see our terms for use of feeds . Permalink

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