Time goes by and Modu the Israeli device manufacturer that started with big noise continue to fade slowly. We hear about delays and layoffs, difficulties to raise new funds, and about the intentions to build a modu touch screen device.
The most recent official announcement stated that the launch will be on June… but Modu’s launch day is still not here.

With all these factors, the company can use some more money (the estimations are that Modu raised 85-95 million dollars). Today it was published that Israel’s Chief Scientist office granted a 1 million dollar investment in Modu.

Dov Moran the founder and CEO spoke  about the procedures / obstacles that caused (and still are) the delay.
“At first we did not know how to build a mobile device, we consulted with experts, that were charlatan.
Moreover there is no experience building a mobile device in Israel [not true, IXI Mobile, Motorola, Emblaze H.S) so we connected companies that were hurt from the global economy crisis, such as Texas Instruments and Sky Mobile”.
But Dov Moran also dropped a bomb and said that “Canon examines a co-op with Modu”

via TheMarker