Momenta targets new funding at valuation above $5bn

Chinese autonomous driving company Momenta is pursuing a fresh funding round at a valuation exceeding $5bn, reported Bloomberg, citing sources familiar with the matter. The Beijing-based firm, which counts Temasek, Tencent and Jack Ma’s Yunfeng Capital among its backers, is working with advisers to assess interest from prospective investors. Initially, the company is seeking several hundred million dollars, though the size could increase depending on investor demand, the sources added. A successful rais ...