Report: Modu Raises $100 Million

Modu Ltd., an Israeli cellular startup, has raised $100 million in new VC funding commitments, according to Globes. The deal has a $150 million pre-money valuation, and is expected to close within the next few weeks.

Modu was formed 18 months ago by Dov Moran, founder of Msystems (sold to SanDisk for $1.6 billion). It initially raised $20 million from Genesis Partners, Gemini Israel Funds, San Disk and Moran.