Open-Source Gadget Maker Bug Labs Closes Third Funding Round

NYC-based Bug Labs, which makes open-source mobile devices, has raised a third round of funding. Leading the round: Court Square Ventures. Existing investors Union Square Ventures and Spark Capital also participated. No financial terms disclosed, but Bug says it'll use the money to expand its marketing efforts, hire people, etc.

What's the Bug? Think of it as a lego kit for mobile gadget nerds (and enterprises) -- a mix-and-match mobile device that can include modules like wifi, motion sensor, touchscreen display, GPS, and forthcoming modules like a weather sensor. And it's all open-source, so beyond running whatever software you'd like on it, you can also design new hardware components.