Momenta completes series C funding

LinkedIn +

Chinese autonomous driving startup Momenta has completed a US$500m series C funding round, taking its total investment so far to approximately US$1bn. Backing has come from a variety of industry giants including GM (which invested US$300m in September), SAIC Motor, Toyota, Bosch and most recently, Jack Ma’s Yunfeng Capital.

The company is taking what it calls a scalable path towards full self-driving capabilities, starting out with self-parking and in-cabin perception systems, before moving on toward full autonomy. A cornerstone of the company’s system is the use of data-driven rather than rules-based algorithms, which it says deliver lower costs and greater efficiency. This forms one part of its ‘Flywheel’ approach, which combines said algorithms with closed-loop automation and harnessing massive data.

“Customers in China are embracing electrification and advanced self-driving technology faster than anywhere else in the world, and the agreement between GM and Momenta will accelerate our deployment of next-generation solutions tailor-made for our consumers in China,” remarked Julian Blissett, executive vice president of General Motors and president of GM China, on announcement of the auto makers investment in September.

Share this story:

About Author


Lawrence has been covering engineering subjects – with a focus on motorsport technology – since 2007 and has edited and contributed to a variety of international titles. Currently, he oversees Automotive Powertrain Technology and Professional Motorsport World magazines as editor.

Comments are closed.