Momenta is an autonomous driving company headquartered in Beijing, China that aims to build the 'Brains' for autonomous vehicles. 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 SAIC Motor Corp., Ltd. (formerly Shanghai Automotive Industry Corporation) is a Chinese state-owned automobile manufacturer headquartered in Anting, Shanghai. Founded in 1955, it is currently the largest of the " Big Four" state-owned car manu ...

, began offering autonomous robotaxi test rides to the public in a Shanghai district as part of a trial. 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 The General Motors Company (GM) is an American Multinational corporation, multinational Automotive industry, automotive manufacturing company headquartered in Detroit, Michigan, United States. It is the largest automaker in the United States and ...

(GM),

Toyota Motor Company is a Japanese multinational automotive manufacturer headquartered in Toyota City, Aichi, Japan. It was founded by Kiichiro Toyoda and incorporated on . Toyota is one of the largest automobile manufacturers in the world, producing about 10 ...

, and Bosch. Additionally, Temasek, Yunfeng Fund, Mercedes-Benz, IDG Capital, GGV, Jiyuan Capital,

Shunwei Capital Shunwei Capital () is a Beijing-based venture capital firm founded in 2011. It was founded by Lei Jun (the Organizational founder, founder and Chief executive officer, CEO of Xiaomi) and Tuck Lye Koh. The firm focuses on investing in the technolog ...

, Tencent, and Cathay Capital rounded out the Series C investors. 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. 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 A facial recognition system is a technology capable of matching a human face from a digital image or a video frame against a database of faces. Such a system is typically employed to authenticate users through ID verification services, and wo ...

start-up

SenseTime SenseTime () is a Hong Kong-headquartered artificial intelligence company with offices in China, Indonesia, Japan, South Korea, Macau, Malaysia, the Philippines, Saudi Arabia, Singapore, Taiwan, Thailand and the United Arab Emirates. The compa ...

References

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

External links

Official Website (english)
{{Autonomous cars and enabling technologies Self-driving car companies Companies based in Beijing