Momenta

Momenta is an autonomous driving company headquartered in Beijing, China[1] that aims to build the 'Brains' for autonomous vehicles.[2]

Momenta
IndustrySelf-driving cars
FoundedSeptember 2016 (2016-09)
FoundersCao Xudong
Headquarters
Beijing
,
China
ProductsDeep learning software
Websitewww.momenta.ai

In December 2021, Momenta and BYD established a 100 million yuan ($15.7 million) joint venture to deploy autonomous driving capabilities across certain BYD car model lines. The new venture, called DiPi Intelligent Mobility Co and located in Shenzhen, combines BYD's capabilities as an automaker with Momenta's experience in intelligent driving. Earlier in December, Momenta and SAIC Mobility, a unit of Chinese automaker SAIC Motor, began offering autonomous robotaxi test rides to the public in a Shanghai district as part of a trial.[3]

Momenta finalized its Series C Financing round of more than $US 1 billion. The financing was led by key strategic investors including Shanghai Automotive Industry Corp. (SAIC), General Motors (GM), Toyota Motor Company, and Bosch. Additionally, Temasek, Yunfeng Fund, Mercedes-Benz, IDG Capital, GGV, Jiyuan Capital, Shunwei Capital, Tencent, and Cathay Capital rounded out the Series C investors.[4]

Momenta received a $300 million investment in September, 2021, from GM. GM said the investment will speed up the development of next-generation self-driving technologies in China.

Momenta has also received $500 million from SAIC Motor, Toyota Motor and auto parts supplier Bosch, as the global auto industry pursues the autonomous future.

Other investors in the funding round include Daimler AG, Temasek, Yunfeng Capital and Tencent.[5]

Momenta was founded in September 2016 by Cao Xudong, a former scientist at Microsoft Research and formerly executive director of research and development at Chinese face recognition start-up SenseTime.[1]

References
  1. PAN, YUE (July 25, 2017). "NIO Capital Leads $46M Round In Autonomous Driving Technology Firm Momenta". CHINA MONEY NETWORK. Retrieved July 5, 2018.
  2. Iris, Dorbian (July 27, 2017). "Chinese self-driving car startup Momenta drives away with $46 mln Series B". The PR HUB NETWORK. Retrieved July 5, 2018.
  3. Shirouzu, Norihiko (27 December 2021). "China's BYD, Momenta enter venture for autonomous driving technology". REUTERS.
  4. "Momenta Raises $200 Million in Self-Driving Cars Push". Bloomberg.com. 3 November 2021. Retrieved 2021-11-08.
  5. "Autonomous driving startup Momenta raises $500 million from SAIC, Toyota, others". Retrieved March 18, 2021.

https://apnews.com/article/business-technology-china-3ac51a2f83d29fffa9807a5b74b02070 https://www.reuters.com/article/us-momenta-autonomous-fundraising/autonomous-driving-startup-momenta-raises-500-million-from-saic-toyota-others-idUSKBN2BB08W[1]

https://www.bloomberg.com/news/articles/2021-11-03/china-s-momenta-raises-200-million-in-self-driving-cars-push

  1. Hale, Trevor. "Autonomous driving startup Momenta raises $500 million from SAIC, Toyota, others". Retrieved March 18, 2021.
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