Bug Labs is developing BUG: An open source, web-enabled, modular software + hardware platform.

Bug Labs is a new kind of technology company, enabling a new generation of engineers to tap their creativity and build any type of device they want, without having to solder, learn solid state electronics, or go to China. Bug Labs envisions a future where CE stands for Community Electronics, the term "mashups" applies equally to hardware as it does to Web services, and entrepreneurs can appeal to numerous markets by inventing "The Long Tail" of devices.