Webpack + Jasmine 2 + Flight + Karma (https://github.com/andrewk/webpack-jasmine-flight)

karma.conf.js

module.exports = function (config) {
  'use strict';

  config.set({

      basePath: '',

      preprocessors: {
          'assets/tests/**/*.js': ['webpack'], // our specs
          'assets/js/**/*.js': ['webpack'], // our components
          'assets/components/webpack-jasmine-flight/lib/jasmine-flight.js': ['webpack']
      },

      frameworks: ['jasmine', 'webpack'],

      plugins: [
        'karma-phantomjs-launcher',
        'karma-chrome-launcher',
        'karma-webpack',
        'karma-jasmine'
      ],

      // list of files / patterns to load in the browser
      files: [
        'assets/components/jquery/dist/jquery.js',
        'assets/components/es5-shim/es5-shim.js', // for phantomjs ES5 compat
        'assets/components/es5-shim/es5-sham.js',
        'assets/components/jasmine-jquery/lib/jasmine-jquery.js',
        'assets/components/jasmine-ajax/lib/mock-ajax.js',
        'assets/components/webpack-jasmine-flight/lib/jasmine-flight.js',
        'assets/tests/spec/**/*.spec.js',
        'assets/tests/fixtures/**/*.html',
        'assets/tests/run.js'
      ],

      exclude: [
        'assets/components/**/specs/**/*',
        'assets/components/**/tests/**/*'
      ],

      reporters: ['dots'],

      autoWatch: true,

      browsers: [
        'Chrome'
      ],

      webpack: {
        resolve: require('./webpack.resolve.js') // webpack aliases
      },

      webpackServer: {
          progress: false,
          stats: false,
          debug: false,
          quiet: true
      },

      captureTimeout: 5000,
      singleRun: false,
      reportSlowerThan: 500,
      color: true
  });
};

webpack.resolve.js

// separate file so we can refer to it from webpack.config.js and karma.conf.js
module.exports = {
    root: __dirname,
    alias: {
        'jasmine-flight': 'assets/components/webpack-jasmine-flight/lib/jasmine-flight.js', // i don't remember if I truly needed this...
    },
    modulesDirectories: ['assets/js', 'assets/components'], // assets/components is our bower_components dir
};