Momenta targets new funding at valuation above $5bn

Core Insights - Momenta, a Chinese autonomous driving company, is seeking a new funding round with a valuation exceeding $5 billion, aiming to raise several hundred million dollars initially, depending on investor interest [1][2] Company Overview - Founded in 2016, Momenta provides advanced driver-assistance systems and operates robotaxi services in cities including Shanghai and Munich [2] - The company has notable investors such as Temasek, Tencent, and Jack Ma's Yunfeng Capital, and its customers include major automotive players like SAIC Motor, General Motors, and Toyota [2][4] Funding and IPO Plans - A successful funding round could facilitate future plans for a stock market listing, as Momenta had confidentially filed for a US initial public offering last year, with timing dependent on market conditions [2] - A spokesperson from Momenta disputed the reported funding terms, indicating that the figures and progress mentioned were inaccurate [3] Industry Context - Other Chinese robotaxi developers, including Baidu's Apollo Go, WeRide, and Pony AI, are also seeking capital to expand into international markets such as the Middle East, Europe, and Southeast Asia [3] - Companies in this sector often focus on technology supply and partnerships with car manufacturers and ride-hailing platforms like Uber and Grab Holdings [4] Strategic Partnerships - Recently, Momenta and Uber announced plans to test Level 4 autonomous vehicles in Germany by 2026, aiming to integrate Momenta's technology into Uber's global platform for a scalable robotaxi service [5] - Munich has been identified as the initial test location due to its strong automotive ecosystem and engineering heritage, with plans to expand trials to other European cities [5]