Momenta

From Wikipedia, the free encyclopedia
Momenta
IndustrySelf-driving cars
FoundedSeptember 2016; 5 years ago (2016-09)
Founders
Headquarters
Beijing
,
China
ProductsDeep learning software
Websitewww.momenta.ai

Momenta is an autonomous driving company from China[1] and aims to build the ‘Brains’ for autonomous vehicles.[2]

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, 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. [3]

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

“Together with GM, we will jointly invest in autonomous vehicle technologies to enhance driving safety, convenience and efficiency,” Momenta CEO Xudong Cao said.

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 [4]

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

Momenta's deep-learning based software in perception, HD semantic mapping, and data-driven path planning enables the realization of full autonomy.[5]

References[]

  1. ^ a b 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. ^ www.bloomberg.com https://www.bloomberg.com/news/articles/2021-11-03/china-s-momenta-raises-200-million-in-self-driving-cars-push. Retrieved 2021-11-08. {{cite web}}: Missing or empty |title= (help)
  4. ^ "Autonomous driving startup Momenta raises $500 million from SAIC, Toyota, others". Retrieved March 18, 2021.
  5. ^ Aaron, Tilley (July 31, 2017). "China's Rise In The Global AI Race Emerges As It Takes Over The Final ImageNet Competition". Forbes. Retrieved July 6, 2018.

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

External links[]

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